How to Avoid Timeshare Fraud or Scam

How to Avoid Timeshare Fraud or Scam

A Timeshare or vacation ownership is a property owned by more than one owner. Here, each owner has the right to use the property for a particular time period.

Attractive marketing and fake advertising platforms effectively scam the timeshare owners, and a huge number of people take the fake bait and are later fooled by such fake marketers.

How to Avoid Timeshare Fraud or Scam

The situation has gone so bad that the government of victim states has issued consumer alerts and warnings.

How Timeshare Fraud Works

Since the marketing and advertising methods have digitalized to a huge extent, it becomes difficult for users to find out whether the company stated in the advertisement is real or fake. These fake sellers charge some fee online for listing and marketing. Then, these fake sellers’ pocket all the money and vanishes.

The search engine Google filters most of the scam websites, and because of this, the scammers create a real-world advertisement to lure the victims.

It usually targets the vacationers. Moreover, the buyers lured into the enticing advertisements.

These scammers set up bank accounts in different countries and ask the victim to wire the payment. If you have wired the money, then all your money is gone, and you can’t do a thing about it. Sometimes the victims post an online warning so that no one else would get hurt. But the baits lure the people more than a neglected warning.

Also Read: Credit Derivatives and their benefits

Spotting the Scam

In a bunch of original and fake websites, one can spot the difference just by looking for legitimacy via looking at the missing parts. A legitimate platform constitutes of an up-front payment method money-back guarantee in return.

A legitimate platform has guarantees and a single listing fee, unlike monthly listing payment schemes that scammers make.

Most of the scammer, to look real, tell their owner about a huge line up of buyers.

Scam identification via research

People who want to resale their timeshare property can take the help of Google by searching for a high-ranking platform. After that, take a thorough look at the company websites and read the user experience and comments. The website shows complaints or warnings posted by the users or victims in case the company is a scam, thus making the scammers identifiable.

Also, for better records, you can visit the platform known as the Better Business Bureau. This website keeps a record of all the complaints and rankings about various companies. Just avoid the websites that do not have a good ranking or are not at all listed in the list of companies.

Advice

If you come through such fake websites, do not forget to inform the cyber authorities. And if you get yourself into timeshare fraud or scam, it becomes very difficult to trace the money or even get some compensation.

Be 100 percent sure or certain about the legitimacy of the platform or website before buying. And this is how you can avoid timeshare fraud.

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