As the economy opens up and more Americans venture out for a summer like no other, some of the old vacation scams are once again rearing their ugly heads. Chief among these is the rise of the timeshare. Although timeshare contract agreements had hit historic lows prior to 2020, they are now rising faster than ever.
Part of this is due to the simple fact that the market for US vacation homes is hotter than ever right now. This has pushed up the prices of second homes and made it harder for the average American to buy one for themself, thus enhancing the appeal of timeshares.
If you have taken the bait and are worried you might be the victim of a timeshare scam, you need to act fast. The last thing you want is to end up stuck in a timeshare contract that you cannot get out of. That’s why you need to know when to call a timeshare lawyer specialist that knows how to set you free.
Read on to find out the telltale signs that you need to talk to a timeshare cancellation expert.
1. Your Timeshare is Different from the Pictures
Your first sign that you need to be reaching for the timeshare exit button is if you feel you have been mis-sold a property. It’s all too common for a buyer to arrive at the resort only to find that the timeshare they have been sold does not resemble the brochure in any way. If you feel that the timeshare you have entered into is not up to scratch, you need to consult a timeshare cancellation agency immediately.
2. Upfront Fees for Renting or Selling
Most timeshare arrangements should provide you with the option of renting out or selling your timeshare. Granted, this can be a difficult and often worthless undertaking, but you should still be able to do so during your own timeshare period. If a timeshare company charges upfront fees from you in exchange for allowing you to rent out or sell the timeshare, there is a high chance that you have a scam on your hands.
3. High-Pressure Tactics
As with anything in life, high-pressure sales tactics are always going to be a red flag. The timeshare industry does have a very negative reputation when it comes to this, so always be on your guard when attempting to purchase a timeshare. If the agent is telling you that you need to buy now or otherwise trying to rush you or apply pressure, hang up the phone and consider that you might be about to be roped into a scam.
4. Direct Calls
Timeshare laws do not explicitly forbid agents from cold-calling people, but it should always set off alarm bells when this happens. If the timeshare you have received came about as a result of an agent calling you out of the blue, you should be worried. It is likely that the agent retrieved your contact information illegitimately from a “sucker list” of potential scam victims, meaning that your timeshare might be a scam.
5. Evasive Salespeople
With a dodgy development, the salespeople are usually available and full of charm right up to the point where you start asking questions. You have a right to know the full terms and conditions of anything you are considering purchasing. If a salesperson for a timeshare company demonstrates any evasiveness when you request information or have any concerns, this should immediately set off some serious alarm bells.
6. Poor or Unreliable Reviews
Any reputable timeshare company will have a wealth of reviews from the public that should be available on a third-party platform such as Yelp or Google Reviews. If you cannot find reviews of your timeshare company, it’s possible that you are in a timeshare scam. If the reviews are all bad, this is an obvious red flag. However, overwhelmingly positive reviews should also cause concern, as these may be fake reviews posted by the company.
7. It Seems Too Good to Be True
As with anything in life, if it seems too good to be true, it ain’t. Timeshare salespeople are very good at their jobs. They will tell you that you are getting an affordable luxury vacation while also investing in your future and freedom. This is rarely the case. The IRS considers timeshares to be effectively worthless and it is almost impossible to re-sell a timeshare or see it appreciate in value. If the sales pitch glosses over these facts, approach with caution.
8. A Lack of Clarity in the Contract
Many shady timeshare companies will attempt to obscure the scam by loading up a contract with unnecessary legalese and references to laws that do not exist. If your contract is in any way unclear or difficult to understand, you should submit it to a timeshare lawyer to have a proper look at. If even they are confused by the contract, then you are probably dealing with scammers that want to confuse you and make you sign your savings away.
9. Any Hesitancy in Showing the Contract
This is a pretty non-negotiable red flag in any situation. If a timeshare salesperson shows any reluctance whatsoever when you ask to see the contract, you have a problem. First off, you should keep in mind that you have the legal right to see any contract in full before you sign. If a salesperson hesitates for even a moment when you ask to see a full copy of your contract, then you are in an extremely concerning situation and should immediately reach out for professional help.
10. Timeshare Resale Scams
Finally, let’s not forget about timeshare resale scams. Let’s say you have realized that your timeshare is a dud and you want to sell it. Someone from the agency you purchased the timeshare from might pose as a reseller or estate agent and attempt to convince you that they will get you a good price, as long as you pay some upfront fees. Any solicitation of this kind is illegal and is definitely a scam.
Get in Touch with Our Timeshare Cancellation Experts Today
If your alarm bells are ringing and you want to contact a timeshare cancellation expert, you have come to the right place. Make sure to give our friendly and professional team a call today to find out how we can set you free.