Is it true all the talk we are hearing and reading about Mexico Timeshare Scams? Is this really happening in Los Cabos, Acapulco, Mazatlan, Puerto Vallarta, Nuevo Vallarta, Cancun, Cozumel and other touristic destinations in the country too? Are the Fraudulent or Underhanded Sales Tactics reviews we see online really for real? If so, many buyers must be asking themselves the million dollar question, How To Cancel a Mexican Timeshare Scam? First off let’s dissect the true meaning of the word Timeshare Scam since it is a very strong word. The dictionary definitions of scam are the following: A dishonest scheme, and to swindle someone by means of a trick. Upon analysis of the definition let’s highlight the Rental and Resale Presentation of the Deceptive Sales “pitches”.
Q. Is the Rental Presentation Dishonest?
A. To be honest is a virtue. It is to be truthful no matter the consequence so to be dishonest would be the exact opposite. The question now becomes does the closer have any idea of the truthful success of the rentals that he/she is presenting to be 100% successful? The “100% successful method” presented to most clients is that a “broker” will handle everything from a to z, and all that has to be paid is an upfront fee to hire the broker services. According to numerous online reviews, tips, and complaints, the “list of brokers” provided to the clients do not seem to be successful in renting out the weeks. In fact, experienced Mexico Timeshare owners solely recommend buying to use and exchange and not to rent out via brokers. We would be quite surprised if the closers were not aware of this issue since the rental presentation exists in most Mexico Timeshare resort operations so most clients visiting the respective presentations make this issue known by saying, “once burned, twice shy”! Now let’s analyze why the rental presentation is effective in closing deals. In our estimation it is the greed of making money $$$$$$$$ with the caveat of not having to do anything to earn it since the broker does everything for you! It’s similar to the online “Get Rich Quick Scheme”. Who doesn’t want or need to make money is the emotion that is manipulated. In summation, a small percentage of owners seem to find success renting their weeks on their own but not with the “list of brokers” and that it is blatantly dishonest for “closers” to present that the rental program is 100% successful when results on the ground show otherwise.
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Q. Is The Resale Presentation Dishonest, Will My Existing Timeshare Really Sell For The Price The Salespersons Tell Me It Will?
A. The timeshare resale market is becoming more popular than ever with Americans and will soon catch enthusiasm in other countries as well. Why? Because the resale market benefits the buyer much more than it does the seller since inventory can be found for 30% to 70% less money. The “closer” probably failed to divulge this important information and presented a higher resale quote. Historically, the seller loses money on the sale and who likes to lose money? Nobody! So that is why the Resale presentation has become so effective for closers to close deals. Many timeshare owners have been burned by paying an outfit to resell an existing timeshare so when they hear that the resort will sell it for them they tend to have more credibility in the offer. The issue at hand here is that the resort does not resell the timeshare for them as the closer has led the client to believe, rather it is an outside broker who does it and the resort legally distances themselves from the outside broker for obvious reasons. So in the end it generally plays out the same, paid an upfront fee, everything sounds great from the start then weeks now months go by and all the interest about your property seems to have faded away. The original resale broker is no longer answering your calls and that little voice within says that something is not right. To make matters worse the client is now on the hook for the balance of the timeshare that was just recently purchased. Guess what, now the client owes two maintenance fees per year until the existing timeshare is taken out of original client’s name. Florida has led the path that many other states may soon follow suit by placing new legal requirements and restrictions on any worldwide resale company that is involved in reselling a Florida located timeshare resort. Check out our current blog post on the new Florida Timeshare Law HB-7025 to become informed. In summation, a very small percent of Timeshare owners are able to sell their timeshare for the amount presented by the “closer”. The overwhelming majority of properties if resold, are sold for 30% to 70% less the original sales price unless of course the inventory is deeded fixed week number 51 or 52 in Aspen, Colorado!
Q. So in the end are the buyers being tricked, is it truly a Mexican Timeshare Scam?
A. In theory the timeshare can be rented and/or resold. In actuality the majority of clients do not get it rented or resold with the “list of brokers” provided them on the day of sale. The clients who prove to be successful in renting and/or reselling appear to do it on their own either through word of mouth and/or via websites that assist in promoting their inventory on a grand scale. They are generally clients who remained positive after finding out that the “list of brokers” services did not pan out to be successful and decided to handle it on their own. A true example of mind over matter! Remember a timeshare sales presentation is a play on words for the most part and we as humans tend to believe what we want most to come true even though deep down a little voice plays the advocate role sometimes. Successful timeshare closers seem to master the play on words creating the illusion of what the buyer needs to hear in order to buy all the while sliding in words here and there to legally protect the company.
Mexico Timeshare Advocate always recommends each buyer to not stay within the timeshare dream that the salesperson has created but rather spend more time ensuring that the contents of the dream are indeed real and not an illusion. The only way to do that is to ensure that the written presentation matches the exact writing of the legal contract during the signing portion of the sale. This is the best time to ask the resort company for any addendums that may be needed to match up the verbal presentation to the written legal contract. Once client is able to do the exact match then that dream state should live on for many years to come providing the buyer with many years of fun under the hot Mexican sun!