Have You Been Guaranteed The Resale of Your Timeshare?
You may have become victim of a Mexico Timeshare Resale Scam if you’ve been GUARANTEED that your existing timeshare will be sold within a finite period of time. Even if your salesperson did not guarantee but STRONGLY SUGGESTED that your timeshare would be resold can still be considered an act of Misrepresentation depending on the circumstances that followed. It’s common knowledge that most timeshare buyers do not wish to own or be responsible for more than one ownership at a time. This one-ownership-at-a-time obstacle presented by the buyers has pushed some Mexico timeshare operations to engage in Resale Fraud. Learn exactly what constitutes as resale fraud, how is it presented, and what you can do to protect yourself.
What Exactly Constitutes A Timeshare Resale Fraud?
Fraud occurs most commonly in Real Estate transactions. Generally speaking there are five different factors that must be considered when deciphering if a Timeshare Resale Fraud has indeed occurred:
- Was the false statement presented to you as a material fact?
- Was the presenter of the material fact knowledgeable that the statement was not true?
- Was it the presenter’s intent to purposefully deceive, you, the buyer?
- Did you, the buyer, justifiably rely on the presenter’s statement when making the positive decision to purchase?
- Did you, the buyer, experience financial injury as a result of justifiably relying on the presenter’s statements?
If you or somebody you know are able to say, Yes, to all of the above statements then it would be safe to assume that a Mexico Timeshare Resale Fraud has most certainly taken place! If such has occurred, don’t despair. Click here and Reach out for assistance immediately!
How Is A Mexico Timeshare Resale Scam Presented?
Keep in mind that there are different variations on how a Timeshare Resale Scam may be presented. For this post, we will cover one method in particular, which is called, The Escrow Liquidation Contract. Notice how The Escrow Liquidation Contract phrase does not use the term “resale”. The legal definition of the word “liquidation” is to settle or to pay(a debt). The term “resale” is not used since the timeshare that is to be “resold” is presented by the timeshare seller as already having been sold to a third-party buyer. In essence, the timeshare seller presents that the most difficult part of selling the timeshare has already been accomplished since a third-party buyer has now made a viable purchase offer. In fact, the fictitious name of the third-party buyer will be printed on the contractual documents which gives the appearance that everything is legitimate. The timeshare seller then proceeds to ask you to sign contract documents stating that after a certain activation fee amount is paid then the timeshare seller/broker has the right to liquidate the timeshare property at the stated price. The activation fees can range between $499usd to $2,500usd.
How To Protect Yourself From Financial Harm?
If you are still within 5 days of purchasing and have been presented a Mexico Timeshare Resale Scam then our suggestion would be to effectively cancel the signed contract. If the timeshare resort informs you that you cannot cancel or that your down payment is non refundable it would be wise to reach out for help immediately! Keep in mind, The Escrow Liquidation Contract will always be separate from the timeshare resort’s contract. In this manner, if a credit card dispute is initiated, the timeshare resort can always say that it was not them who made such promises, rather it was the timeshare brokerage company who made such guarantees. It is also common that the activation fee amount be paid by bank wire, PayPal or Western Union. The main reason for asking that payment be made in such manner is so that once the defrauded timeshare buyer becomes knowledgeable of the fraud and attempts to fight back that there is almost no chance of getting the activation fee amount back. This particular Mexico Timeshare Scam is set up so that the defrauded timeshare buyer once knowledgeable of the fraud is 1)unable to recoup the activation fee via the manner in which it was paid and 2)loses the initiated credit card dispute since the fraudulent Escrow Liquidation Contract is a separate contract with a brokerage company and not with the timeshare operator who charged the “disputed” down payment.
Click Here To Learn More About Mexico Timeshare Advocate and It Creators:
The reason why Mexico Timeshare Advocate was established was to help Mexico Timeshare Owners who have been misled, deceived, and/or have had their Mexican Consumer Rights abused by dishonest salespersons and/or the companies that they promote.