In the world of timeshares where consumers often feel already anxious and untrusting, there are now groups, people and organisations who intentionally deceive timeshare owners, claiming they have the ability to get them of their contract. Unfortunately, individuals who are desperate to be rid of their contract can be more susceptible to this type of timeshare scam and fall for the convincing spiel that they use to reel in innocent customers. In fact, these people that often call themselves ‘brokers or agents’ rarely hold the necessary licences and won’t work to sell the timeshare at all, but instead make their income by charging customers for their ‘selling’ services that doesn’t exist.
At Sarah Waddington Solicitors, we are here to help tackle these problems and advise you on how to deal with timeshare selling scams.
Where Do These Scams Originate From?
Timeshare selling scams usually originate from a cold call, meaning that someone will call you up and promote a service which isn’t always legitimate and truthful. When we look at the prospects of cold calling, these organisations don’t exactly achieve much and even if they think they are getting somewhere, the outcome may not be so great for them.
Most of these companies that ‘claim’ to be giving you genuine advice, are in fact other Timeshare companies, ex Timeshare sales people or funded by the Timeshare companies themselves. These organisations can become very forceful and aggressive when trying to sell something to people – making them feel intimidated or threatened and like they must invest in the proposed service, but this is just another type of timeshare scam that people should be wary of.
Organisations that involve themselves in Timeshare Selling Scams are clever in the way that they approach potential clients. They use tactics such as promising to buy you out of your timeshare or securing your release out of your existing timeshare, the reality however is that you will end up in the exact same situation but with less money after paying these scammers.
These organisations and the individuals who work for them can be very convincing and even though you might believe that they will do their best to help you, in reality you are simply just adding to the despair and frustration that you are currently experiencing.
How to Avoid Timeshare Scams
Timeshare Scams have increased in recent years. If you already have a timeshare and are hoping to get out, you could be vulnerable and at a higher risk of being scammed. It is important to get clued up on how this can be avoided. Some of the main methods that scammers will use include cold calling, on the street timeshare sales and misrepresentation.
It is important to note that we will never cold call you, along with many other officially registered companies, so if you ever receive a call from a company allegedly selling you a service which will get you out of your timeshare, either just say you aren’t interested or do your research before agreeing. When you suggest that this solution doesn’t appeal to you, these companies have a reputation of becoming quite assertive and forceful so if you have not requested the call, put the phone down immediately and do not engage in further contact.
How Sarah Waddington Solicitors Can Help You
Sarah Waddington Solicitors are regulated by the Solicitors Regulation Authority and adhere to strict compliance guidelines. We pride ourselves on ensuring we deliver a professional service that our customers are satisfied with.
Ensuring that you are offered secure trusted advice from an early stage is vital when selecting a company to work with or buy from. You should always be thorough with anyone you choose to help you, whether that means asking several questions or doing some research before you commit, this is very important.
If you are looking to get out of your Timeshare legally and want to be sure that they are a dependable and authentic company, you can check if a firm is officially registered at www.lawsociety.org.co.uk. Even if you receive a call from a company suggesting they can help you, it is beneficial to take 2 minutes to see if they are registered at the law society. This way, you can be sure that you are investing your time into a legitimate company that has your genuine best interest at heart and will work to help solve your problems, not make them worse.
What are the warning signs that a timeshare is a scam?
Although a timeshare seller, agent or broker might seem genuine with their convincing legal jargon, fancy website and professional branding, the truth is that those who orchestrate timeshare scams are often exceptionally good at faking legitimacy.
Here are some easy to spot and clear warning signs that people should be aware of when interacting with these companies or individuals.
- Promises of guaranteed financial returns with little to no risk
- Dismissive when asked for concrete proof, evidence or stats
- Investments are not registered with the regulatory body for the industry
- When questioned of details regarding the investment strategy, investors are dismissed or told that it is ‘too complex’ to understand or even a ‘secret’.
- Not being upfront about the exact purchase price and evading the question when asked
- Official documentation or paperwork is not available to the ‘investor’
- Removing money from the scheme is difficult if not impossible
- The hard sell is infamous amongst timeshare sellers who can even use tactics such as plying the investors with free foo, drinks and even accommodation to pressure them into signing contracts they don’t understand.
Be vigilant, take your time, never sign anything before getting it checked by a legal representative and trust your gut, if a timeshare deal seems too good to be true then the chances are that it is!
How can I protect myself legally when buying a timeshare?
If you aware of the potential timeshare selling scams but are still certain that you would like to invest in a timeshare, then there are certain steps that you can take in order to help protect yourself legally.
Ensure that you read all documentation, paperwork and contracts very carefully and pay particular attention to any fine print. Before signing you should have a clear understanding and written documentation of your;
- Total financial responsibility
- The total costs and what they cover such as fees, assessments and maintenance etc.
- Your options should you choose to sell at any point
- Legal rights and obligations pertaining to the country you are buying in
It is always advisable to seek advice from a professional timeshare lawyer who will be expertly qualified to help identify any potential issues with the deal.
- Your options for backing out of the sale should be made clear to you and each state, country or region can vary in your right of refusal or ‘right of recission’ period for the timeshare contract. This period is typically around 3-10 days and during this time allows the buyer to cancel after signing with zero penalties.
- If you do decide to cancel, be sure to send the letter of cancelation by certified / secure post, requesting a return receipt and signature upon delivery where possible. Keep all correspondence and records of cancellation in case you need them in the future.
Where can I get help for my timeshare issues?
Timeshare contracts can be extremely long, complex and diverse which is why people often feel out of options after spending a lot of time trying to resolve the issues themselves.
Whether you think you have been subject of a timeshare scam, were mis-sold a timeshare, are looking to get out of your contract or have a timeshare dispute then it is always advisable to seek help from a qualified professional. A solicitor who specialises in timeshares will be much be equipped and experienced in dealing with contract law and timeshare cancellations. Some timeshare companies are a lot more likely to resolve contract issues quickly when a solicitor is involved, rather than be faced with potential litigation.
Contact Us Today
At Sarah Waddington Solicitors, we are here to help our clients with all of their legal timeshare needs. If you would like to find out more or need some advice on your circumstances, then please do not hesitate to contact us by calling direct on – 01924 601009 or emailing – info@sarahwaddingtonsolicitors.co.uk. Alternatively, feel free to send us a message though our websites contact page and one of our timeshare experts will be in touch with you shortly.
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