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How to avoid a Timeshare Fraud

As with any kind of investment, the chances of your timeshare investment ending up in a fraud or scam are very much possible. A fraud or a scam can prove devastating for you both financially and mentally. It may take a while for you to recover from its backlash. Those of you who have already been a victim of these notorious frauds and scams can understand the trauma that they have experienced and gone through. That dream vacation that you may have been planning since a long time ended up being a nightmare for you.
But if you think you are the first person to have been scammed hold on there are many more people may be in hundreds who have been the victim of this unscrupulous behavior of some individuals.

As a matter of fact the timeshares are one of the safest ways of experiencing many popular vacation places. How about a secluded journey to the geographical wonders of the world? How about that romantic getaway in a beach resort? Sounds exciting, but these are one of the marketing tactics used by the scammers to lure people into thinking about buying a timeshare. In fact this is their first victory in setting a trap for you. This does not mean that every timeshare company who uses this tactic would be a scammer. The essence of that is to be precautious and not get impulsive about it in the first go. Always think and rethink before making a decision on buying a timeshare. Restrain yourselves to the maximum.

One of the important criterions is selecting a right timeshare company. As a rule of thumb, always go with large, well established timeshare companies who have been in the business for years. In this way you know their history very well and their reputation in the market. They are less likely to fraud a person than a new or a small company. This is applicable when it comes to the resale of your timeshare property.

Many times the catchy style of marketing techniques of these scammers can easily raise red flags and you can avoid being scammed. It first starts with an invitation to a timeshare presentation. They offer you a gift if you attend the presentation which may look expensive but in reality is not. Sometimes they may also inform you that you have won a gift and you can claim it by attending the free presentation. And then once you fall prey to it and attend the presentation which turns to be nothing more than a gimmick, they start using pressure selling techniques and they won’t let you go out unless they have you sign something just like dealers selling used cars who say “we will sell you this car for this much price if you buy it today”. They may say the property is only 5 minutes walk from the beach but in reality it may turn out to be 15 minutes away from the beach. Sometimes the property might not be the same they described in their presentation taking advantage of the fact that nobody would go to Florida or Carolina to see the property themselves before buying it. And in some rare cases the property might not even exist at all. What we learn from this is to read the fine printed lines in the invitation if you are sent one. Never ever succumb to their pressure tactics and refuse to sign any kind of paper.

A much better idea is to consult a lawyer before signing any contract documents and see if all the promises that were made verbally are being fulfilled or not. Do your home work before buying a timeshare by researching the market prices in the location you are buying. And also ask for contact numbers of the previous customers. Make sure you call them and find out everything you want to know about the company and their properties.

 

How to get fair deal while going for timeshare resale:

Timeshare bought through a resale cost very less than buying directly from the resort owner or developer, but then having a thorough knowledge about the purchase of timeshare resale will provide a good and a positive experience by avoiding scams.

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Timeshare bought through a resale cost very less than buying directly from the resort owner or developer, but then having a thorough knowledge about the purchase of timeshare resale will provide a good and a positive experience by avoiding scams.

Before buying a timeshare from a resale it is good to physically see the timeshare and its location. Even if it is resold timeshare it needs lot of money for making such a kind of investment. Never go by the resellers words as, they might sometime hype about the timeshare, its features and the location. Be sure they are actually true to your knowledge.

Buying a timeshare through a resale can be very appealing due to such lower prices offered, but then it would be smart enough to ask some of the crucial questions like the annual maintenance fees collected, property tax paid till date etc. The closing costs plus extras might some time over do the base price of the timeshare got through resales.

Many timeshares are affiliated along with an exchange company. If so, it is good to find out if the membership fees can also be transferred, to avoid any hassles to be faced in the future. If the timeshare is based on point system, try to find out if the points can be transferred too. If there is additional amount of bonuses earned along with the timeshare, try transferring it too.

Before purchasing the timeshare through re sale it is important to find out if it has to be partially remodeled. As some times the timeshares would not have been maintained at all. Paying a whooping price for such a worn out and old timeshare might not be a good idea at all.

If the timeshare is of a leased type of property, it is better to find out how much time is left out on the lease agreement, otherwise one might end up paying for a lease ended timeshare.

The important reason to be found out is that why the owner is selling his timeshare. This piece of information can be some times very crucial. The reason might be that the owner no longer needs it, or he might have faced a problem or inconvenience with the timeshare, which is resold. If the buyer is fully confident of purchasing it after satisfying that there is no problem, then it might really be a good investment. Otherwise the deal can be dropped.

 

How To Purchase A Timeshare While Saving Money

Purchasing timeshares can be completed using several different methods. Knowledge about the methods available may save you thousands of dollars. By choosing wisely, money can be put back into your pocket instead of being wasted. This article was written for showing you three of the more popular methods of purchasing a timeshare.

Prospective buyers are presented with an opportunity to purchase timeshares when they receive invitations to a resort property. Most of these invi...

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Purchasing timeshares can be completed using several different methods. Knowledge about the methods available may save you thousands of dollars. By choosing wisely, money can be put back into your pocket instead of being wasted. This article was written for showing you three of the more popular methods of purchasing a timeshare.

Prospective buyers are presented with an opportunity to purchase timeshares when they receive invitations to a resort property. Most of these invitations give you the opportunity to stay at the resort for the weekend. This has been an effective sales tactic in the past. While you are being shown all the wonderful amenities of the timeshare, the sales person is pushing for the sale because they work solely on commissions. They can show you what is available but do not rely on them for the information necessary to make an informed decision about spending your money on them. The real thing to keep in mind is the commissions and salaries of those working of the company offering them have their wages included in the cost of the timeshare.

The resellers offering timeshares will be the next encounter you will have with purchasing. The businesses offering the timeshare will be the intermediary that joins the buyer and seller together. If thinking a reseller is the way to go, think about these things first:

1. Knowledge of the fees being added to the process of the timeshare is necessary.
2. Find out what fees apply that is not included in the timeshare price
3. Provide yourself with a list of any fees for the title, state transfer taxes, unique resort evaluations, and maintenance fees due.
4. Find out your particular schedule to the timeshare to know when it will be available for you.

Remember, if the time you select for the use of the timeshare is passed, you will need to prepare yourself to wait until the following year to use it. For more info see http://www.timesharesreview.com/Sell_My_Timeshare/ on my timeshare need.

The last method and the one that will cost less are to become the outright owner of the timeshare. You will be able to find lists of timeshares directly for sale by the current owner. EBay is the best place to find those lists. An example of this listing is the timeshare that was purchased for fourteen thousand dollars less than what the original sales price would be. That is hard to believe but true way to save money. Be thorough and realize there are fees associated with timeshare property that will be included in the cost.

As with anything you spend your money on, you will find problems. Study each item with care and concern before agreeing to anything. Research will be your friend in the future. By purchasing the timeshare from the owners, money will be saved. You might even be able to save yourself thousands of dollars that can be used for the trip. Simply Unbelievable!




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