Much of the bad press about timeshare refers to organized scams rather than the concept of the timeshare product itself. In fact, most of the scams are related to reselling timeshare. It is important to learn about the kinds of timeshare scams that can separate you from you hard earned cash so as to avoid the pitfalls and enjoy the benefits timeshare can offer.
Here are some examples of timeshare scams what to avoid:
One popular scam involves you receiving a telephone call where you are informed that someone would like to buy your timeshare. Perhaps you had not even considered selling, but the opportunity arises and the company seems to be offering a great price. You are then asked to pay a fee upfront so that they can give you the details of the buyer, but once the fee is paid, the buyer is no longer interested.
On some occasions it is necessary or desirable to sell your timeshare; for example, sometimes people inherit a second timeshare and therefore wish to sell it. Under these circumstances you might be tempted to join a company that guarantees you a sale for a high fee. Remember, no company can guarantee a sale, and you are more likely to end up losing your money, and potentially your timeshare if you have signed over the rights to your property as well to ensure a fast sale.
In some cases, the scammers use the guise of a vacation club swap to get you to relinquish the rights of your timeshare property to them. You think that you are exchanging your timeshare permanently for points, when in fact, they sell your timeshare for whatever price, while charging you a high membership fee for the vacation club. In this case, you are better off joining a reputable vacation club on your own steam and adding your timeshare to their catalog in exchange for points.
Remember to read the small print and use your common sense. If it sounds too good to be true, it probably is.