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How to Avoid Timeshare Scams in Florida
If you’re planning to buy or resell your timeshare? It’s essential that you know how to avoid timeshare scams in Florida. Contact the Timeshare Defense Attorneys for assistance.
Florida Timeshare Scams and How to Avoid Them
Unfortunately, in an industry as large and lucrative as the timeshare industry, there is an entire food chain of bottom feeders keen to scam you into buying and keeping timeshares. It is also possible to be scammed when you attempt to sell.
Many timeshare owners try to get rid of their timeshares. However, fraudulent timeshare resale companies who promise to sell timeshares usually fail to do so. Many of the top reasons why people want to exit their timeshare contract are connected to timeshare scams.
A timeshare owner can end up with unwanted investments, a feeling of being ripped off, and constantly increasing annual maintenance fees.
Let’s explore how to avoid timeshare scams in Florida.
Scammers at the Entry Point to Timeshare City
For some people, buying a timeshare property may be a good choice. Many families can enjoy the concept of timeshares, especially those who make sure they buy into timeshares with no hidden surprises and from reputable timeshare companies.
However, many buyers are tricked into a timeshare purchase. They sign on the dotted line after sitting through a lengthy 2-hour sales pitch during which every sales trick is pulled off to make them part with their money.
Salespeople are well-trained to prey on people’s emotions and make a sale. It’s no secret that owning a timeshare puts you at risk. If you decide to buy a timeshare, here are a few tips to avoid getting scammed.
Do Your Research on the Timeshare Company Beforehand
Doing some due diligence on the timeshare company before attending their presentation will be valuable. Check out the internet for reviews to see what people are saying.
Look for properties for sale on the second-hand timeshare market at the same resorts, so you know the real second-hand value. You may also check the Better Business Bureau website and see whether the company is involved in public lawsuits.
Sticking with larger, more reputable timeshare companies is safer, but some are also highly questionable, so do not let your guard down. Deal with timeshare companies that are affiliated – if they are not, exercise extreme caution. An affiliated company is likely to be legitimate, bound to some code of ethics, and subject to sanction by the affiliated body. One such body is the American Resort Development Association (ARDA).
Be Prepared to Say No – In Advance
The goal of a timeshare presentation is to get you to commit to signing a contract.
You will be prompted to say yes to everything during the presentation. A question like “So you agree there is no reason not to take advantage of this fantastic limited-time offer?” is a good example. Be prepared to say a firm “No” and look the salesperson in the eye when you say it.
Tell them you won’t sign anything until your timeshare attorney looks at it first. This will afford you an easy exit from being pressured further. You will probably find that the sales agent quickly loses interest in you and moves on to somebody else, leaving you to stroll undefeated out of the room.
Feel No Guilt About Accepting Your Free Gift
Typically potential customers are wooed by the promise of a free gift or a holiday if they will register for the presentation. Be sure to ask whether there is any obligation on you to qualify for the gift.
Once it’s time for you to leave, ask for your gift. Since it was a no-obligation commitment by you, you are fully entitled to the gift, so don’t feel bad – you have, by this time, sat through a long badgering presentation and given your time. Enjoy your gift!
Ask the Difficult and Uncomfortable Questions
During the timeshare sales presentation, feel free to ask questions that many timeshare companies would rather avoid. You could ask questions like:
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How much are the annual maintenance fees, and what is their annual escalation rate?
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Once I sign this agreement, how do I get out of it if I no longer want it?
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Does the company have a buy-back scheme, and how does it work?
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The second-hand timeshare resale market is at rock bottom – why do you claim this timeshare is an investment? (It may be a good idea to check second-hand values during or before the presentation.)
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How long is the cancelation period when I can cancel without obligation, and what are the requirements to cancel?
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Why is this offer only available today?
Any reputable timeshare company should have no problem answering these questions reasonably. Collecting your gift and walking away from the deal would be a great idea if they do not.
Scammers at the Exit Point From Timeshare City
If you already own a timeshare, it’s prudent to avoid timeshare resale scams. Isn’t it surprising that, as soon as you decide that you want out of your timeshare, you suddenly receive unsolicited phone calls from resale scammers claiming to represent keen buyers for your timeshare?
The golden rule for all scams is this – paying any upfront fee for anything is not a good idea. Ever. Period.
Timeshare resale scammers try to position themselves as legitimate by exuding professionalism and charm to gain confidence. Once they have it, they will ask for upfront fees and closing costs and promise you all things that sound too good to be true.
Yes, they may have a buyer who is interested in your property and is prepared to pay you more than what you paid for your timeshare, and even after their fee, you will be in for a handsome profit. However, if you have to pay an upfront fee, it’s a bad idea.
If you decide to use an exit timeshare company or an agent to sell your timeshare, insist on using a licensed real estate broker and an escrow account broker to ensure your money is safe.
Making payments by credit card and never by wire transfers or cash is also a good idea. Your credit card offers you a better chance of getting your money back if you are the victim of any timeshare resale scams.
For help With any Timeshare Matter, Reach out to Timeshare Defense Attorneys
If you are considering buying a timeshare, take the timeshare contract to an attorney for advice before you sign anything. This will give you some breathing space and time to properly consider whether the contract is what you want. You can avoid many future headaches by taking this simple step.
Timeshare Defense Attorneys offers a wide range of timeshare legal services. Our Florida timeshare exit lawyers can assist you whether you need your agreement analyzed, you’re looking to exit the contract, or you’re involved in a timeshare resale. Get in touch with us today and avoid timeshare scams.