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Many timeshare owners have been called out of the blue and told that the market is hot! For their timeshares and have a buyer waiting to purchase their unwanted timeshare.
Learn how these companies operate and prevent yourself from falling victim to timeshare fraud.
If a timeshare owner is unhappy with their timeshare, they may assume that the best way to get rid of it is to resell it.
Many timeshare owners are referred to rental and resale companies by the resorts where they purchased a timeshare.
Unfortunately, the secondary timeshare resale market offers very little value for the membership and many possibilities to get scammed again by fraudulent resale agencies that work in tandem with the resorts, or prey on people who have already been scammed by the timeshare industry.
How the meal is "cooked"
A common timeshare scam is for the resale agent to contact the client and say that they have a confirmed buyer for the client’s timeshare membership.
The purchase offer will include an attractive purchase price and various terms that the client is required to agree to in order to process the sale.
One of the terms will typically be for the client to ensure that all monthly payments and maintenance fees are up-to-date with their resort.
This is one way for the resorts to ensure that unhappy clients are not delinquent in their timeshare fees.
Another term in the purchase offer that the resale agent provides is that if the client pays the maintenance fee, but the week is available for the purchaser, the amount paid for the maintenance fee is added on to the price for the purchaser.
The scam in this scenario is that the resale agent does not say what happens if the sale falls through.
In reality, 99.999% of the sales are not processed, and the client has paid an additional maintenance fee and likely waited so long for information about the sale that they also lost the use of the week for that particular year.
The resale agent will then ask the client to send a copy of their certificate of membership to verify ownership.
Once the ownership is verified, the resale agent will send a Transfer Form that outlines the resale agency’s fees to process the transfer.
The scam is that the client is required to pay the transfer fee before the completion of the sale.
In legitimate real estate transactions, the fees to the agent are paid at the end from the profits that the client receives from the purchaser.
Once the transfer fee has been paid, the client has no recourse to try to recover the money from the resale agent should the sale not actually go through.
"...escrow companies don't exist in Mexico."
The resale agents claim to keep the purchaser’s money in an escrow account until the sale is completed. In reality, escrow accounts do not exist in Mexico.
This fraudulent statement is made to try to instill confidence in the client by using a process that is common in the United States.
In reality, the resale agents scam clients by having them pay their timeshare maintenance and monthly fees owed, as well as the transfer fees, and then they will stop replying to the client regarding the sale.
The transfer will never go through, an escrow account will never be set up, and the purchaser is fictional.
Selling timeshares is very difficult, particularly timeshares with resorts that are renowned for scamming clients.
The problem is that resorts sell many timeshares because they have high-pressured sales pitches and don’t allow clients to have any time to research their purchases.
On the secondary resale market, buyers are more aware because they have the time to research the company they are interested in owning a timeshare with, and they have many purchase options available to choose from, most at bargain prices.
The valuations and purchase offers that the resales agents make to sellers are unrealistic and prey on people who want to recover some or all of their lost investment in their disappointing timeshare plan.
If you have a timeshare that you no longer need or want, and were sold it based on fraudulent promises, you should consider canceling your contract as a more viable option than selling it on the resale market.
At Mexican Timeshare Solutions, we help clients to avoid getting scammed by the thousands of fraudulent resale agencies, and help to cancel their deceptive timeshare contracts.
We never charge upfront fees, so you can be sure that you can get rid of your timeshare contract with no risk to your financial health.
To receive more information about purchase offers from timeshare resale companies and how to cancel your timeshare, send a WhatsApp to +52 333 239 6589, fill out the contact form, or call us at +1 714 277 3662
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Leave your comment below and share your opinion with us. To know more about timeshare scams go to: Timeshare Companies: the truth about them
Just dont get caught, this offers are the worst out there, me and my husband were scammed by this kind of offers, actually we bought a resale timeshare contract with royal holiday, biggest mistake ever.. the resort dont respond of our timeshare, we need desperately help !
buenas tardes, quisiera contar una experiencia, a finales del mes de abril llamaron a mi casa de la compañía " GENERAL PROPERTY MANAGEMENTIC" , mencionándome que tenían una gran oferta para la reventa de una mambresía que teníamos, me hizo algunas preguntas no comprometedoras pero a final de cuentas tenía una información confidencial y lo cuestione al respecto el respondió que esta información la sabía por la reestructuracion que estaba haciendo la secretaría de turismo al informarle a ellos los nombres de los dueños de membresías. No pregunté más porque el sr. me dijo que enviaría a mi correo la propuesta de reventa de mi membresía .
el día lunes 02 de mayo me enviarón el correo con la oferta de ellos hacia nosotros y es muy lucrativa que la verdad en estos tiempos hay que desconfiar de todo, por fin hable con el y me dice que le mande por correo el contrato de la membresía con la enmendadura DE NO NEGOCIABLE esto es para mi un gran gancho para tener el contrato en mano y así poder utilizarlo, por los comentarios que leí, antes pedían dinero ahora no solo piden copia del contrato e INE del propietario
Avoid that is also a scam ! dont trust on the resale companies, they offer something that they cant acomplish , for own experience the best that you can do is to stay away from the timeshare field, i promise.
Try to avoid all this tihngs, for sure only will carry us to big complains, in my opinion if you have a timeshare and you already had some troubles , cancellation is the only option
The scammers talked to my house offering to sell my timeshare and they robbed me, no more. First they asked me $2000 for closing costs of membership and then they asked me $3000 dollars for Mexican taxes with the promisse that in 10 days I would receive $20,000 dollars from the sale of the membership. This didn't happen, they didn't answer my calls. But they are still there trying to steal more people. I pray every day for getting caught and damage not follow more people like me and my family.
Just yesterday we were getting out of some villas in Mazatlan, with whom we had booked, trying to enjoy the last hours they approached us to invite a breakfast, a 90-minute talk lasted nearly three hours! The manager was forcing us to buy a timeshare! According were $ 103,000.00 pesos than which we had to leave half but as my wife and I did not want he told us that with 1000 pesos we could make the contract, so insistently that I got desesperate, besides the guy painted it us as "business of our lives " thing sounded as a joke! Be careful and not be wrapped by this type of people who are not rude but they offer a breakfast that cost 30 pesos and later you have to pay for almost half a million dollars for a virtual property!
I would like to get out of this timeshare ASAP. Lies, Lies, Lies and more lies. The deceit and fraudulence is beyond belief. It seems like everything we were told by the salesperson was a lie. Like many of the other complaints above among many others we have the same complaints. This company should not be permitted to sell another time share. I like the resort but I can get it cheaper if I did not own the timeshare. In addition the all inclusive cost per diem was supposed to be per couple. We were shocked and appalled at our first booking to learn that it was per individual. Lies, Lies, Lies and more lies. What an expensive false!
Que horrible que esto continue pasando, tengo muchisimo cuidado antes de firmar cualquier cosa e investiguen muy bien todo antes
I don’t understand why people continuously purchase time shares. My sister and her husband did years ago and can’t get rid of it. They’ve paid for it in full but still it’s a money pit.
I’ve found that you can usually contact the timeshare directly and they’ll rent to you by the week at a considerably lower price than if you were a member. I don’t understand how they stay in business.
Timeshares are one of the biggest financial mistakes that a person can make. To get scammed beyond that is just icing on the cake.
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