Contrary to popular press, most timeshare offers are legitimate; you just need to decide whether it is right for you. However, there are a number of different types of timeshare scams that you might fall foul to if you are not careful check the reputation of the company you are dealing with.
One of the most common types of scams are the companies who offer to sell your timeshare for a cost. You join their company, pay the fee and then never hear from them again. Some scammers even phone you and say that they have a buyer ready offering a great price and that you need to pay the fee upfront. Perhaps you were not even thinking about selling your timeshare until you were offered more than what you paid for it!
Buying a unit that has not yet been built, especially from a company that is not well established can be huge risk. In some cases, the property is never intended to be completed – hence the scam – so you have bought a timeshare that you will never get to use. If this happens in a foreign country, it can be almost impossible to get your money back.
Some scams involve enticing you to a timeshare presentation on the condition that you will receive a monetary rebate or a huge prize like a car, when in fact you get a toy car and paper money. While these scams are relatively harmless in comparison to other scams, some ask you to pay a fee to be able to enter the possibility of winning your prize.