Mexican timeshares have earned a bad reputation over time as some people have been scammed or taken advantage of by fraudulent companies or individuals. The truth is that the majority of Mexican timeshares are legitimate investment opportunities, but it is essential you know how to protect yourself from scammers when dealing with Mexican timeshare purchases.
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Salespeople that are overbearing: In general, Mexican timeshare scams are usually run by salespeople who approach their job with fervor and will stop at nothing to make a sale. Many times, you will be approached in an aggressive or overly zealous manner with the lure of free tickets or other incentives to draw you in. Sometimes even very expensive incentives such as free cars or luxury vacations are offered so that you take the time to consider the opportunity. Make sure you always slow down and read everything that is offered to you to ensure that it is truly a legitimate opportunity. Another way to pinpoint a scam is when you are asked to pay a fee up front. This is one of the biggest warning signs to look for. Often times scammers prey on individuals who have purchased a timeshare in the past and wish to sell it. The scam occurs when they coerce you into purchasing a new, better timeshare with the promise that they will sell the old timeshare for you. The scam is that they actually will not sell the old timeshare and you will be left with two timeshares inadvertently.
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Warning sign: Sign right now! Once you know more about how scammers operate, you can make sure to avoid Mexican timeshare scams. Another top warning sign that screams “scam!” is when you are pressured to sign a contract right on the spot. Often times, they will make it seem as if you will lose a deal or special promotion if you don’t take advantage of the offer right that moment. Sometimes the scammer will even try to play mind tricks by making you feel bad about yourself if you are hesitant to accept their offer. This kind of reverse psychology is a tool that scammers use when trying to sell fraudulent Mexican timeshares. The scammer may offer impressive discounts on your timeshare that are only available if you sign a contract right now. These type of urgency is a huge warning sign that you are putting yourself at risk for Mexican timeshare scams.
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Carefully review contract: It is especially important to not let a scammer trick you into purchasing Mexican timeshare scams. A good way to avoid this is to make sure you read all contracts carefully and ask questions if anything does not seem right. It is preferable to enlist the help of a lawyer who has experience with legal documents. Also, it is very important to make sure you see the property in person and do not rely on photos from brochures or websites alone. Another topic to pay attention to is the maintenance of the property. Any monthly or yearly maintenance fees should be listed in the contract, and ask if those go up or stay consistent over time. Another way to avoid Mexican timeshare scams is to never buy a property that is not yet built or still under construction. Often times, financing may fall through for the builder and they will not finish the property in question. You will be left with an unfinished unit, an empty wallet and lots of stress if this happens! As with any real estate investment, it is important to use the services of a reliable escrow company so you can avoid Mexican timeshare scams. An escrow company is of the utmost importance whenever the exchange of money takes place between a buyer and seller, especially if you hope to avoid Mexican timeshare scams.
The number one way to avoid Mexican timeshare scams is to never, ever sign anything on the spot. Make sure you review all the information available, and also ask to take it home with you to read over even more carefully. You should even consider using a lawyer to help read over the fine print. Regardless of how persuasive the agent is in person, or how great the incentives seem, make sure to tread with care so you can take your time making important financial decisions. In conclusion, if you have everything in writing, and take time to do due diligence and avoid impulsive decisions, you will be able to successfully avoid Mexican timeshare scams.
Read more: The Scoop – Villa Group Timeshare Scams
