7 Things you can do to avoid Timeshare Scams

1. Don’t ever, ever buy or sell ‘on the spot.’ Sleep on it, and take the time to evaluate whether the deal is a good one.

2. If you are offered a prize as an incentive, read the ‘fine print’ on the prize, and DO NOT PAY for anything.

3. Read the contract and have it reviewed by an attorney. If the sales person promised you something that’s not in the contract, don’t sign the contract!

4. If the presentation is too high pressure, leave. You have every right to leave when you want. Simply stand up and politely say ‘thank you very much but we’re leaving now.’ Then go — don’t let them argue with you.

5. Ask for references — and call them. Ask for folks who have been happy and unhappy with the previous service.

6. Don’t EVER pay up-front fees when selling your timeshare! A reputable company will only collect a commission once your timeshare is SOLD. Read more about Timeshare Resale scams here: Florida gets tough on timeshare resale firms.

7. Consider a timeshare the same way you’d consider any other real estate investment. Do research and educate yourself on the market and the value.

Some people prefer to look at the costs of a timeshare in terms of the money they spend on their vacations rather than as an investment. Just be sure it makes sense and that you want to go to the same place every year — or that there are good options for trading which will work for you year after year.

If you have any questions regarding the timeshare market, the resale value of your timeshare, trading options, selling your timeshare or buying a timeshare resale you can contact us by email or call us toll free at 1-800-996-2001.

Some of the above information was compiled from Scambusters. Copyright © Audri and Jim Lanford

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