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Many people who have been scammed by timeshare salespeople look back and see that a series of lies led up to the scam. If they offered you an incentive for your visit, did they give you what they promised? Did they keep the presentation close to the time period agreed upon? Did they pressure you into doing something you weren't comfortable with? If you've answered yes to any of these questions, you may have been set up for a scam.
Many fly-by-night companies sweep into the tourist traps, offer gifts for presentations and get folks to buy something they normally wouldn't purchase. Make sure you are not dealing with one of those organizations. Think and research before you make your purchase. Is the company you're dealing with known in the industry? How do they rate with the BBB? Do they have all the right licenses and registrations from the local authorities? If they advertise with an exchange network, does the network acknowledge them and advertise their locale? If any of these questions cannot be answered in a positive light, you should consider making your purchase from another timeshare company.
Most timeshares you'll be purchasing will already be available on the resale market. Does the resale price reflect a reasonable value? (If your resale purchase can be made from a reputable establishment or person, you will save money by purchasing from them in the first place. However, if, for example, you're purchasing a white week, second floor pool view for 2 to 3 times plus more than you can purchase it for on the resale market, you may want to reconsider the purchase altogether.) Compare it with other units in other resorts in similar locations with similar amenities. If the price is significantly different, you may want to reconsider. If it is higher, you can get a better deal elsewhere. If it is significantly lower, you may want to find out why they are offering units at such a discounted price.
If you can visit the unit before purchasing it, you will have a better idea of what you're getting. If you liked room A on the first floor in building B, make sure your contract states you are entitled to that particular space. If not, make sure you are confident that there is no way you can be put in a space of lesser value.
Many states and countries have timeshare law rights that govern timeshare sales. Know what your ownership rights are. Most (but not all) states have a rescission law that allows you to back out within a short time of signing your contract, sometimes as short as 3 days. International laws vary, as well. Your timeshare salesperson should disclose this and all costs at closing. If that doesn't happen, don't make the purchase.
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Although you may find lawyers that advertise timeshare expertise in regions that are overloaded with timeshare communities, most lawyers won't have this specialty. You may find that you are best served in checking with the local chapter of the American Bar Association for help in such a manner. Find the lawyer, then check with the Bar to see how long they've been practicing law and if there are any complaints against the lawyer. This should not be the end of your research. While references can be helpful, make sure that you interview the lawyer first. Next, negotiate price. It the cost of hiring a lawyer is not easily offset by the financial saving to you, you may want to look elsewhere. If you can't find a timeshare specialist, find a real estate lawyer. They will understand the law and may even know the company you're dealing with, making it possible for you to negotiate without going to court.
If you've been ripped off by a timeshare scam artist, you may not have a legal outlet. If the timeshare company has followed local laws and properly disclosed all that must be disclosed, most likely, they are in the clear. The main way that timeshare legal advice is helpful is if the timeshare company didn't disclose something or lied about their product in a way that you can prove. There should be no hidden fees, and ownership rights and responsibilities must be provided prior to the signing of the deed. Since a lawyer would be best equipped to evaluate this; take advantage of a free consultation prior to hiring which most reputable lawyers offer. Lawyers can be expensive and getting money back from a bad lawyer is almost as hard as it is to get money back from a timeshare company so proceed with caution. Avoid lawyers who want to work on an unlikely angle or a flimsy legal argument, unless they are willing to do it on contingency or at no cost to you. Sometimes lawyers are able to make a name for themselves in such a manner. It would be worth consideration if they are willing to take a chance at no risk to you. However, if they expect you to pay for their legal experimentation, you'd be better off looking for another legal adviser.
Again, find legal help local to your purchase. Contact the US Embassy or your country's Embassy closest to your timeshare for assistance. They should be able to point you towards a reputable route of dealing with your problem. Sometimes the best solution is to cut your losses by renting out your unit, rather than using it, giving it to a charity (with full disclosure) or relinquishing your rights to the property all together.
]]>Be sure the timeshare closing service is registered with the Better Business Bureau and is licensed and bonded, as many scams are out there. If the right timeshare closing service is not chosen, unpleasant circumstances can develop, including:
It is important to choose a timeshare closing service that specializes exclusively with selling timeshare. If the closing company deals with many types of real estate, rather than only timeshares, errors and omissions can occur.
Look for a company that offers a large data base of buyers, specializing in timeshare selling for the following reasons:
Whenever possible, select a timeshare closing service that can handle some of the aspects of the process through the Internet in order to speed up the transfer process. As documents can be transferred more readily online, the complete transfer process will process more quickly.
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Advertise that your timeshare resort is a Marriott resort. Make certain you note that the vacation week or weeks will be available for trade to other equally luxurious accommodations throughout prime locations across the globe. Marriott has its own exchange network and can be exchanged as part of Interval International (II), as well. II is also a top exchange network with a strong reputation. For many timeshare purchasers, the ability to trade their unit for other desirable holidays is far more important than where their actual timeshare ownership is.
Many people buy timeshare units understanding they will be able to rent their vacation holiday to someone who isn't part of the exchange network. Getting people to participate in such a rental demands a great deal of confidence that the renter will receive what he or she paid for. Renting a Marriott gives renters confidence that they will get what they expect. Pictures of the resort can be found on Marriott's website and from the owner, so the renter can have a better idea of what to expect. The website will also list available amenities backing up the owner's promises to the renter. Such a polished view from a renowned organization will only increase the desirability of your timeshare resort to others.
Marriott Rewards® Points are a benefit available to MCVI original purchasers, but they do not transfer with resale. These points are valuable to the member because they allow MCVI members to turn their timeshare week over to Marriott in exchange for points that can be used for other purchases, such as plane tickets, car rentals, cruises, Marriott merchandise, Marriott hotel stays such as weekend get-a-ways and other related travel purchases. This gives the owner much more flexibility and value for his or her timeshare. Many members would rather take the points and use them at their leisure than deal with renting or exchanging their vacation week or weeks. Although these benefit points do not transfer, many timeshare weeks purchased as Marriott timeshare resale weeks are eligible for adding the Marriott Rewards® Points to the unit directly through the Marriott for an additional cost. Check with your resort to see whether this is available to your purchaser when selling your timeshare unit on the resale market. Its important to be honest with purchasers about the transferability and cost related to the Marriott Rewards® Points because doing otherwise could give the purchaser a legal way to dissolve his or her contract with you.
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