Learn the Characteristics of Fraudulent Timeshare Companies

Timeshares can be an incredibly relaxing and beautiful means of vacationing. However, the financial investment they require makes individuals shopping for a timeshare a prime target for scammers. These principles can help you protect yourself.

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We are living in a world that contains technological advances like no other age before us. The abundance of information available in today’s world means that it can become easy for scammers to concoct stratagems to take advantage of well-meaning prospective timeshare owners. Therefore, you need to learn how to use this available information to spot a fake timeshare company, instead of being taken in.

The number of timeshare owners worldwide continues to expand very quickly, in spite of — or perhaps because of — recent economic turmoil. Around the world, there are an estimated seven million owners of timeshares and counting. Staying at a timeshare while on vacation has become even more convenient as time has passed. However, current or prospective timeshare owners have to understand that one negative side effect of this growth rate is potential problems due to unscrupulous companies that prey on timeshare owners and buyers. The means by which these scammers lure victims can vary widely; many scammers will attempt to con individuals into joining some type of fake holiday club or association. They then pretend to sell resort properties that they do not actually own.

Here are some tips to help you spot a fake timeshare company:

# 1. Their advertisements are vague. They will tell you that the timeshares they are selling are contracted and will avoid discussing the fact that they do not own the properties, let alone manage them. However, they will eagerly explain that they have been experts in the timeshare field for quite some time when they offer their “services.”

# 2. Check the website to corroborate the company’s story. See if it contains links to independent articles and double check the address that they provide. Check the local phone number and email address and try contacting them through both. Before purchasing or signing any agreement with them, check to see if they are registered in their listed city.

# 3. A genuine timeshare company should be able to direct you to a physical head office or resort office.

# 4. Avoid resale companies that claim that they can guarantee you a timeshare faster than anyone else.

# 5. Update yourself on news regarding recent scam techniques by browsing timeshare fraud news sites.

# 6. For companies based internationally, if they are claiming to be a member of the official European trade block for timeshares, check if they have signed up for its code of conduct. Also check to see if they belong to any RDO websites.

# 7. Do not sign anything, and especially do not release any money, until you have checked the background of the people you are dealing with. If you have any doubts, rely on a trained attorney for guidance.

# 8. To reduce your risk, rely on reputable, well-established companies. If you have never heard of a company offering to sell you a timeshare, you could be dealing with a scammer. Instead, work with the timeshare divisions of major companies like Marriott, Hilton, Wyndham, Ritz Carlton or Pestana.

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Boris Razmiki

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