Thursday, December 20, 2018

Are Timeshare Scams Common in Minnesota?

Find Truthful Timeshare Companies

The timeshare industry has a bad reputation for scams, even though the laws that regulate the timeshare business are becoming stricter and the companies that manage timeshares are regularly audited. When timeshares are bought from a legit and honest business, the investment is safe and allows the owners to make the most of their vacations spent at the resort of choice making selling timeshares much easier, but scammers do exist – there are very few of them operating in Minnesota, but if you are currently considering buying into timeshare or selling your exiting timeshare property, here are the most common forms of scam that you should know about:

  • Buying from a fictive company – timeshares are usually sold to people who attend presentations that take place in hotels or in restaurants and are held by professional and very assertive sales people. They are great presenters and they also know how to push interested participants to sign the timeshare contract without actually reading it, without allowing them time to check the timeshare company’s identity. The easiest way to avoid this scam is to not let the agent push you, to take your time to check the timeshare provider;
  • The resale scam – there are many timeshare owners who are unhappy with their property and would like to get rid of it and there are scammers who offer to help with the sale and promise a huge profit. All that these scammers ask for is a commission that needs to be paid upfront – a sum that they run away with.

First Posted here: Are Timeshare Scams Common in Minnesota?

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