As travel restrictions are lowered, more people are beginning to travel again. And unfortunately, this means Mexico timeshare scams are becoming popular again. These scams may seem legit at the time, but they can leave you in financial ruin.
So if you want to avoid becoming a victim of these scams, you’ll want to keep reading our guide on signs of a timeshare scam.
Timeshare scams in Mexico can be difficult to pinpoint because of the ever-changing laws. For starters, Mexico does not allow any foreigners to own land within 50 kilometers of the coast. Mexico also does not allow foreigners to own land within 100 kilometers of an international border.
But most Mexico timeshares are located in beach resorts near the coast or border. Therefore, buying a timeshare in Mexico is a scam because you cannot gain any profit. You can only use the timeshare, and not at your own leisure!
These timeshares are considered a “right to use” timeshare rather than a “deeded” timeshare. And with a “right to use” you can occupy units for a particular number of weeks. However, only throughout a specific number of years.
And you’re expected to pay the starting investment amount and intermittent maintenance fees. These fees go up annually!
You should know about the common timeshare scams tactics. This way, you don’t fall victim to these scams! One of the first red flags to watch out for are pushy and sometimes manipulative salespeople.
Another sign to look out for is gifts or a complimentary breakfast. Usually, the salesperson will draw you in with a gift and then sell you on the timeshare.
This kind of selling technique is legal in Mexico. However, it’s still used a lot in Mexico timeshare scams.
Another timeshare scam is when the salesperson only shows you a brochure of the timeshare. In these kinds of cases, the timeshare is still under construction—or it’s deteriorating.
Before purchasing any Mexico timeshares, make sure you visit the property. You can also visit with the people in the developer’s office. This way, you know what you’re getting into before making any deals!
If you have already fallen victim to a Mexico timeshare scam, don’t worry! You still have some options.
For starters, you can cancel a timeshare without any penalties. However, it must be within 15 days from the day you signed.
To do so, write a letter to the developer and meet with them in person. This way, you’re share gets canceled in time. Be sure to keep any receipts or proof of cancellation!
Canceling a timeshare is easy. However, if you have surpassed the 15 days, you’ll have to sell your timeshare.
This process can be difficult, and you may need representation. So if you want to know how to sell your timeshare, click the link!
Mexico timeshare scams are common, and any foreigner can fall victim to them. But luckily, our guide has taught you about the common signs of a timeshare scam, so you never have to be their next target!
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