Further to our article on tips for a fruitful resale yesterday, we would like to offer a little advice on the resell companies that are rife around Britain and the rest of the globe. These scam companies are quick off the mark when it comes to scamming timeshare owners out of more money rather that helping them. There are several that still cold call, however this is illegal in Britain, and to avoid unwanted contact, join up with the Telephone Preference Service (TPS) to take your number from the allowed calling lists.
There are several well-known tricks in the timeshare industry that you may not be aware of, and they are certainly something to watch out for when sifting through the companies for a reputable one. Be aware of any company that asks for an upfront fee before any service is provided. This payment can be disguised as a deposit, land tax, legal costs, insurances etc. Do not feel pressured into a corner to do something that you are not comfortable with. If you have checked out the company, it’s reviews and are happy, still err on the side of caution by using a credit card to pay any monies. Credit card payments are secure and traceable and most payments can be redeemed within a 120-day period if you feel as though you have been misled.
Be very aware of any company that may ask your bank details, telling you that they will not take a payment. Why one may ask, would they need your bank details? Other things to watch out for are promising to get you an unexpected high price for your unit or weeks, or indeed that they already have someone lined up to buy the unit. If a company asks you to attend a presentation, just be careful that they do not end up selling you another timeshare product, or upselling you instead of relieving you of your timeshare. Do not in any circumstances post original documents, deeds, timeshare agreements to any company, and if during your correspondence with the company they put pressure on you for a quick decision, do not feel pressured, take your time, it is your right.
Don’t be fooled by them telling you that your resort has passed your number to them, these sales tactics are professional lies, and are told very convincingly, to the point where sales representatives will have people at the ‘staged’ meeting who are introduced to owners wishing to sell as buyers. This is very common, and more often than not the owner will fall into the trap.
Always keep your wits about you, if something seems too good to be true, you know the story! If you have any doubts whether to deal with a company or not, you are able to contact us on the email or phone below, and we will do our best to advise you and point you in the right direction.
For more information regarding this article or assistance in any other timeshare related issues please contact the TCA on 01908 881058 or email: info@TimeshareConsumerAssociation.org.uk