Florida is the world’s timeshare capital. Many cash-rich tourists who visit the state each year have fallen victim to fraud and scams. Timeshare fraud comes in various shapes and sizes, from sneaky giveaways and hidden costs to realtors and resellers asking for upfront fees and disappearing after the transaction.
Carefree tourists are often enticed by the promise of incredible profits and free holidays or pressured into signing documents during presentations.
If you’ve been scammed or agreed to an offer that seems too good to be true, take advantage of our free assessment. Our timeshare fraud attorney will help you verify the timeshare and its seller or developer, and pull you out of a scam before it’s too late.
The lure of vacationing in Florida for weeks on end is understandable. In your excitement to spend more time in the Sunshine State, you may overlook critical details in a timeshare transaction. Regret typically sets in when it’s too late, and you may find yourself dealing with a property you can no longer afford to keep.
Unfortunately, timeshare fraud is alarmingly common in Florida.
Here’s how you can protect yourself from and prevent a scam:
The Common Signs of Timeshare Fraud in Florida
- You won something – you’re told you won a free holiday or giveaway via raffle or scratch card. These will all be charged to you once you own the timeshare.
- The offer is too good to be true – you’re given a lower mortgage offer for the timeshare in a high-end resort then you end up paying a lot more for maintenance fees.
- The timeshare company or resort calls you first – if a resort calls you for a timeshare offer, it could be fraudulent. Buyers should be the one calling resorts or developers.
- A resale company calls and offers to sell your timeshare – scammers sell “suckers list” to fellow scammers because previous victims are likely to fall for a second scam. If a resale company calls and offers to resell your timeshare in exchange for a fee, hang up right away.
Tips to Avoid Scams and Fraud
- Only buy a timeshare from a legitimate and reputable resort or developer. Verify it with the local Better Business Bureau or Attorney General’s office.
- When reselling, make sure that the resale company is legitimate, or the realtor has a license and is in good standing.
- Read the contract carefully, preferably with an attorney, before signing it. Check if the sales pitch reflects in the contract.
- Consult with a financial advisor to have a better understanding of the transaction.
- Don’t fall for intensive or high-pressure selling techniques. Walk away and stay alert.
Your Timeshare Cancellation Rights
Frauds or scams can be financially and emotionally devastating. Recovering your assets and peace of mind might take years. Some people don’t recover them at all. Fortunately, there are laws in place to protect consumers from fraud.
The best way to get out of a scam is to have an attorney deliver a valid cancellation of the contract. Don’t attempt to resell it or negotiate with the scammer, contact a lawyer right away.
Consult with Florida’s Leading Timeshare Fraud Attorney
The Law Offices of Susan Budowski can help you avoid fraud or get out of it. Whether you need help reviewing a contract or cancelling a timeshare, give us a call right away for a free, no-obligation assessment.