A Timeshare Guideline: Outsmarting The Scammers

A controversial budding industry that offers consumers the rights to use a luxury

property for a fraction of a time yearly, the timeshare business is one that has developed a reputation for having loads of scams. Although the products it offers are legitimate, countless frauds and shady deals have made it so that people now look at the industry otherwise. Also contributing to the negative image are ruthless timeshare sellers who use hard-sell tactics and other practices that arent essentially illegal, but nonetheless unethical. Here are some of the things to watch out for.

Look Out for the Sales Pitch: Sellers often encourage people to listen to one of their sales presentations by offering huge prizes if they just stay for the entirety of the pitch. Some of the most common items they offer include cash rebates or new cars and appliances. It is important to find out the details and terms regarding these prizes before agreeing to anything. Often times, there are hidden costs you have to pay to claim these free gifts. Some of them are even different from the impression they give. There have been reported cases in which a free boat that was offered as a prize turned out to be a toy one. Sometimes, people who already own a timeshare are convinced to buy another one with promises that their old one will be easily resold, when in fact the broker doesnt exert any effort to do so.

Aggressive Sales Tactics: High-pressure sales pitches, also known as hard-sell tactics, employ hardnosed and confrontational methods, designed to bully you into signing that timeshare contract. Some even take a jab at the consumers pride, by insinuating they might not be the right kind of person for the deal. The key to avoiding these tactics is to recognize the sellers intention in his tone and choice of words.

Whether he raises his voice or comes off as a brownnose, never agree to sign anything on the spot. Take the information home with you, read the contract at your own pace (or have someone else more knowledgeable do it for you), and come up with a decision only when you have read it top-to-bottom. Should you opt to make the purchase, have every detail be put in writing, and compare the contract with the initial offer. And before signing your name, make sure you have seen the actual property. Photographs in a glossy brochure don't count. Remember that most of these agents are hardcore sellers who dont care about others welfare as long as meet their quota.

Occasionally, new timeshare units are sold before the property is even built. If the financing for the construction falls, the property might never be built. Use an escrow service to hold your money until you're sure everything is in order.

A poorly maintained property isnt a fun place to visit, so make sure there are terms in the contract defining exactly what maintenance services the resort will be providing. That way, you can take legal actions if the company cuts corners on upkeep.

by: Jessie James

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