Timeshare offers are generally legitimate and thousands of timeshare owners have benefited and continue to benefit from it. Sadly though, there are scammers and dubious entities who lure people in and because of this, timeshares have developed an unfavourable reputation. There are timeshare agents who use hard-sell methods that turn buyers off. They also use practices that are not downright illegal but admittedly unethical.
If you are offered a timeshare membership, pay attention to the sales pitch. This will give you an idea if the one you’re talking to is a scammer or not.
- You will be asked to attend a sales presentation and for incentives, offer you amazing prizes such as cash rebates, free vacation, gadgets and others. Watch out for this tactic because free gifts aren’t necessarily free in the sense that you have to pay some kind of fee in order to qualify.
- If you already own a timeshare with another company, their come on would be a promise that your existing timeshare can be easily resold when it fact, they have no intention of helping you to resell.
- Some agents suggest huge discounts provided you sign a contract right away. Do not fall for it. No matter how tempting the offer is, do not sign up without studying the offer. Bring the offer home, show it to a lawyer and ask questions.
- If possible, ask for a site visit before buying. It’s not a wise idea to spend thousands of dollars on something you do not see. Do not rely on pictures; most of them are just photogenic.
- There are companies that sell timeshare units for properties they are yet to build. While this is not illegal, it can be risky. If the financing for the construction fails, chances are the properly will not get built. To protect yourself from such an occurrence, let an escrow service hold your money until everything is in order.
- Look into the property’s maintenance. Poorly-maintained properties spoil a holiday so make sure to check what the contract states about maintenance. Have a written agreement on the items they will take care of so you will have legal rights if the agreement is not met.
Classic Holidays has long been in the timeshare business and have thousands of long-time members. You may come across or hear about Classic Holidays scams but they are just misrepresentation about the company.
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