Millions of people including some real estate investors have fallen prey to timeshare resale scams. Timeshares itself is a recipe for disaster. With depreciating time value of money, high maintenance fees and other unpleasant factors, timeshares can never be considered as an investment. Here are some signs which timeshare attorneys denote that you are dealing with a timeshare scam:
There are several companies out there waiting to lure customers into timeshare schemes that sound too good to be true. Such sellers claim that timeshares are highly demanded and are profitable. Timeshare attorneys mention that such sellers put out false claims that more people buy timeshares and they yield great returns from it.
Little to no Track Record:
The goal of any fraudulent company is to grab as much money as possible from people’s pockets at the earliest, which is why they don’t stay for long. Timeshare attorneys warn that if a company you are dealing with claims to be highly reputable and backed by a superior track record, think twice before closing a deal with them.
Outrageous Upfront Fees:
According to timeshare attorneys, one of the ways timeshare resale scams make money is by charging unrealistically high upfront fees. They begin to bring up a list of fees such as listing fees, administrative fees, assessments fees and the like. Such companies do whatever it takes to convince you in paying such charges.
Victimized by Timeshare Scams?
Timeshare lawyers have heard of hundreds if not thousands of people who have been taken by timeshare scams. If you are a victim to a timeshare scam, immediately contact your state attorney’s office.
Nobody wants a so called investment that costs them more than what they would get in return. Timeshares is such an investment, and should be avoided at all costs.