Are you thinking of selling a timeshare in Mexico? Fraud is a serious issue among timeshares in Mexico. There are endless variations of timeshare fraud, but there are a few that are more frequent and are worth watching out for. Most of the time, the scammer promises to buy or set up the sale or rental of the victim’s timeshare for an upfront fee. They then run away with the money from that fee and you’re still stuck with your timeshare and a lot less money. They also prey on those who have already been scammed and are trying to seek remedy to their troubles. These scammers are relentless, and it’s imperative to be vigilant.
Their relentlessness is possible through the anonymity of the Internet and the technologies of today. A timeshare scam can be started, operated and repeated with a website anywhere in the world. Their websites may seem legitimate along with the documents they produce, but there are a few red flags you must keep an eye out for.
If they’re asking for money by cash or wire transfer, most likely this is a fraud. There is little way for the authorities to follow this money, and therefore little chance you’ll ever see your cash again.
Many scammers are involved in identity theft, representing themselves with real estate licenses that are not theirs. It is important to look up whoever you think you are speaking to on the DRE website, call the license at that number, and verify that you’re talking to the right person.
You can also talk to your resort or developer to see if other people are being scammed. Get the info on what the official restrictions are so you don’t get stuck in made-up fees fed to you by the scammer.
The most important thing you can do is be vigilant. You have to look out for signs of fraud before you agree to anything or send any money. If you have a weird gut feeling about an agreement, call a lawyer and do your research. Protecting your assets is the most important thing, not selling your timeshare quickly. Stay skeptical.
If you want more information, please visit our page on timeshare scams for more information or a list of red flags to look out for. It’s your timeshare, so it’s your responsibility to be on the lookout for scams. We’re just here to make that process easier. Loit & Associates are expert attorneys for time share fraud in Mexico. If you have any questions at all please feel free to contact us.