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The sale of timeshare ownership has become an enormously profitable way for resorts to generate additional income.
In essence, buying a timeshare means that you get to share a vacation property with different parties, usually divided by 52 weeks.
If you are interested in getting one of these properties, it is very likely that you will have to assist a sales presentation, where you will be pushed at a certain point to sign a sales agreement.
But, how do I know if I was a timeshare scam victim? In the following paragraphs, we will tell you the most common lies said during timeshare presentations.
Also Read: Timeshare fraud: 5 tips timeshare Resorts Don't want you to know.
One of The Most Popular Frauds in Mexico
Mexican timeshare fraud has been increasing over the last few years, according to PROFECO, the Government’s Consumer Protection Agency in Mexico.
Only this year, from January to April, 478 complaints about 20 different timeshare companies have already been filed, but that is only the beginning.
After the complaint is filed, it takes a long time to accomplish a conciliation of the case, and that is not always possible.
Before buying a timeshare in Mexico, it is very important that you know your timeshare cancellation rights.
When you purchase a timeshare in Mexico, you have 5 business days to cancel the contract; this is after the contract is signed.
Another important thing to know, is that under the Mexican law, verbal promises are not valid if they are not written.
Therefore, you should read your contract very carefully before you sign it.
How do I Know if I Was a Timeshare Scam Victim?
At this point, you are probably wondering, How do I know if I was a timeshare scam victim? If you recognize any of the following statements, it is very likely that you are a timeshare scam victim:
- The verbal promises made by the timeshare salespeople during the presentation are not established in the contract
- You were told that your timeshare would be a smart financial investment
- They told you that your timeshare would be easy to resell
- You were told that you could rent your timeshare weeks easily, so you can make a profit out of them
- You were told that you could travel all over the world with your timeshare unit
- You were told that you wouldn’t pay any timeshare maintenance fees or that they would stay fixed
- You were told that you would get great discounts on cruises, air tickets, car rentals, city tours, etc.
Also Read: Mexican Timeshare Fraud
What Do I Do If End up Being a Timeshare Scam Victim?
If you, unfortunately, find yourself stuck in a timeshare scam, you will be glad to hear that there is a way to get out of it legally.
If you have already purchased a timeshare, contact us at Mexican Timeshare Solutions.
We offer professional and efficient services to cancel your timeshare contract as soon as possible.
At MTS, we will work hard on your behalf with no upfront fees. Contact us today for a free consultation!
To receive more information to know if you were a timeshare scam victim and to cancel your membership, send a WhatsApp to +52 333 239 6589, fill in the form in the contact section, or call us at +1 714 277 3662.
Information to share
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Timeshares themselves are a rip off. Id rather just save money and buy a place outright or rent a place where ever I want to go on vacation.
Pagamos las vacaciones mas caras de nuestras vidas, perdimos mucho el dinero con esta empresa por un tiempo compartido que nunca pudimos usar
Another lesson learned here is that you should NEVER send any funds to anyone until you have read and signed all contracts.
If it feels scammy then it probably is. This is very interesting and I never knew very much about them other than that some friends had bought them in the past. Transparency leads to confidence but it sounds like there are hidden fees, etc. Your insurance for not getting scammed, it seems like, is to stay far away.
de haber sabido esto antes, no habria pasado por tanto estres, gracias por compartirlo
de haber sabido esto antes, no habria pasado por tanto estres, gracias por compartirlo
My wife and I were also scammed with a Royal Elite timeshare in Playa del Carmen last August. They promise you everything and deliver NOTHING! We were sucked in by their promise to get us a balcony for an inside cabin rate. We do alot of cruising and thought-Wow this is really a great deal. However, it turned out to be more of a great rip off since everything they told us was a lie. Fortunately we only joined the club and NOT buy the Royal Elite timeshare membership. That was enough though. $2,000 down t he drain. They gave us 4 of those worthless vouchers for Sandos resorts which are also worthless. That HSI exchange is suppose to sell the vouchers for you at at least $500 is also abunch of bull. Please don't fall for anything that has Royal Elite's name on it. I'm in the process of calling the BBB and seeing what they can do. Possibly the attorney General also!!!!!!!!
Guys, there is no such thing as a free lunch, free dinner, or free show tickets. Ask yourself this question when accosted by these slimy-salesmen: "Is a $50 dinner worth two hours of our time in a stressful environment?"
NO.
Walk.
Away.
I know i was scammed, i need to get rid of it as soon as possible, please! can you help me?
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