Thousands of International travelers, particularly from the US and Canada, Report Scam have fallen victims of timeshare fraud while vacationing in Mexico. Resort developers hire skilled salesmen to represent their timeshares as many different attractive packages, such as financial investments, deeded properties, or vacation clubs, just to increase their sales.
Unfortunately these promises are normally made verbally, and the clients end up being disappointed by their purchase which turned out to be nothing they were promised. In desperation to get rid of their timeshare, they research different options to try to resolve their timeshare fraud issue.Getting out of timeshare contract option 1
Many timeshare developers sell their timeshare packages as a financial investment. They claim that their properties are in constant demand by travel agents, and that the rentals are guaranteed if the client signs up with one of their affiliated brokers. Most times, these companies do not perform the rental of timeshare weeks and the client is left even more frustrated in the intend of getting out of timeshare contract.Getting out of timeshare contract option 2
Selling their timeshares to someone elseDuring the sales presentation, many salesmen will claim that if the client is not completely satisfied, the timeshare developer will buy back the timeshare for an attractive percentage of the fair market value. In reality, timeshare developers do not buy back their timeshares. They may refer the timeshare owner to a third party resale company, who operates in a similar fashion to the rental agencies that collect fees to list the property, and then never follow through on the sale.
We have also heard recently of clients who have listed with a resale company that claims to have a purchase offer from an actual client. Be careful as these resale agents tells the client that they are required to pay the Mexican IVA taxes for the sale into an escrow account. In a matter of days, the client is supposed to receive their payment from the purchaser, and the taxes will be refunded.
This is another form of timeshare scam because escrow accounts do not exist in Mexico. The resale agent takes the thousands of dollars, meant to be paid for taxes, and disappears.Getting out of timeshare contract option 3If you have already purchased a fraudulent timeshare and are interested in renting, selling or getting out of timeshare contract, here is some advice from our experts at .
Cancelling TimesharesCancelling a timeshare is a complicated procedure that requires help from people with experience and knowledge. There are several new companies that claim to offer timeshare relief or cancellation for an upfront fee. They may send the client paperwork to transfer the title or complete the cancellation procedure. This paperwork never actually gets processed by the timeshare scam developer. When the client calls the resort, they are still in fact the owner of the timeshare, and they have lost money to the timeshare cancellation company in upfront fees.