More people are becoming financially literate and would opt to put their hard-earned money in investments that they can actually see and enjoy. One kind of such investment is a timeshare. Owning a timeshare allows you to enjoy the perks of a certain shared property, usually a resort.
While timeshare itself is a legitimate business, the rise of timeshare scams has made people wary about investing their hard-earned money in one. Be a wise investor and know when a timeshare fraud is presented in front of you. Here are warning signs worth looking out for:
1. Overly Aggressive
Selling a timeshare is like selling a product. There will definitely be sales talk involved, but a legitimate company will be sharing timeshares professionally and not aggressively. Overly aggressive offers are often a sign of desperation and lack of professionalism.
2. Exit Guarantees
Many people are concerned about exiting timeshares, with fears that it will be a hassle to get out once they’re in. Another popular timeshare fraud is through offering exit guarantees. Exiting a timeshare is a complicated job. Therefore, it’s important to work only with licensed lawyers or exit companies. The last thing you want is to be entangled in legal issues just because you opted to exit your timeshare illegally without knowing.
3. Too Good to Be True
Shop around. That is where you can get an idea of what to expect from various offers. If a deal is too good to be true, chances are it is and should definitely be avoided. Policies that give you all the gains and access might be tempting, but they only exist in a perfect world. Which, unfortunately, does not exist here on Earth.
Getting into the timeshare business is a smart move, only if it is transacted with a legitimate party. Be a wise investor and be on the lookout for such scams and avoid it before it happens.