The Scam
You buy a timeshare because you
love to vacation, you love the timeshare resort, or you love the location.
Period. It is a perk, it is a wonderful
luxury. There are some beautiful, relaxing, and wonderful
timeshares in Mexico. Read more about some great timeshares. I would like to warn you of a growing concern about the
fraudulent timeshare sales practice that is in effect at a few
resorts in Mexico. You think you are buying a Mayan
palace, but what you really get is scammed.1. Be aware that Mexico laws require a 5
business day “cool down”
contract cancellation period for timeshare purchases, and this
right cannot be waived for any reason, under any circumstances.
All monies are to be refunded.
2. Timeshare sales values do not increase, aftermarket prices are a
great value and at least 40% discounted. (Check Ebay and
Google).
3. Timeshare rentals are prices typically at, just over, or
actually below the cost of your maintenance fees. Often
the timeshare rents unused weeks at less than your maintenance fee. (Check Ebay
and Google)
If you are told anything contrary to the three rules
above – walk away from the presentation! They are trying
to scam you!
If you were scammed, make sure to check out this site. You
need to read the whole site, it may be boring, but you need to
know your rights.
Check out the breaking news
section - and the new Site Launch
article.
Check it out - I was quoted in the
LA Times. Points to Remember
Most of the timeshare salesmen use high pressure tactics and are very
persistent. They stretch the truth, state half truths, and they omit
much. Expect this.
Read your contract. Make sure you have every document you
signed. Insist on copies of
everything they write, or at least take a picture of each document.
If you try to cancel, take along a video recorder or a tape recorder.
Some salesmen are actually using illicit sales practices, and actually
committing fraud in the case of telling you that you do not have the
right to cancel in the next 5 business days.
We actually have copies of Mayan Palace
training manuals and a cancellation waiver.
Cancellation Period
You must waive your 5 day cancellation period because you are buying a
repossessed or "traded in" unit, and you can only have the cancellation protection once. SCAM
Mexican law does not allow you to waive this right.
You must waive your 5 day rescission period because you are using an
Equity Exchange. (trading in a different timeshare.) SCAM
Mexican law does not allow you to waive this right.
You must waive your 5 day rescission period because you received a
"young family" discount. SCAM
Mexican law does not allow you to waive this right. Are you
getting the picture?
You cancel your contract within the 5 day period - but they will not
accept it. SCAM By Mexican law they must
cancel and return
all monies. Get proof you tried to cancel and they refused (bring
a recorder) (call Profeco).
Make Money - Rent your unit
You can rent out the units for $1700 - 2500 a week. SCAM Some
people are trying - but in actuality they are not renting for much
beyond your maintenance fee, and often below. The developer is
actually renting excess weeks at less than your maintenance fees.
There are timeshare rental services you can use for only $300 for a
lifetime contract with no limit on weeks you sell. SCAM Yes
they may list your rental unit - but the market does not command those
prices and you just sit there, and sit there.
Use a reseller that does not charge so much upfront but charges commission per sale.
They will work harder for you. SCAM.
They already have your $150 joining fee. Find someplace that will only
take a percentage - no join fee (Redweek or eBay).
Here - Phone this travel agency right now and ask them how much they can
rent out your unit for. You then pick up the phone and talk to the
agency. They will tell you they rent for $2500 and their supply
cannot keep up with their demand. SCAM The rental company
is in on the scam.
A few more items for thought.
Our Resorts Hold Their Value
Because we keep building new resorts and you can vacation to any of
them, our units hold their value. We have plans on building one in
Cancun, Maui, and Orlando. We already have resorts in the
Riviera Maya, Puerto Vallarta, Nuevo Vallarta, Acapulco, Mazatlan and
Rocky Point. Half Scam They may hold their value
more than a different time share - but timeshare sales on the
aftermarket are discounted at least 40%, sometimes more. Of the
timeshare purchase price - about 40% is sales related leaving 60% actual
property value.
You must use our broker to sell your timeshare - he thus can control
the prices. SCAM All you have to do is have your account paid
in full and pay 10% of your purchase price to transfer title.
Things They Never Mention - But Check The Contract
To transfer title to another buyer, the resort charges 10% of your purchase price.
Check your contract.
Once you become a member, you may not be able to exchange into your
family of resorts through RCI. Sometimes you cannot exchange into
a certain season. The resort has restricted RCI from allowing
current members to exchange into these units because they want new
people to come and vacation with them. New people that have not
yet bought a timeshare.
Read More About:
Do you have a case?
What to do if you have been
Scammed.
More helpful links.
Read complaints from victims
An email "chain Letter'
you can send to warn your friends.
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