New industry guidelines that govern timeshare resorts and resellers have been around for some time now and the degree of protection the consumers receive only keeps rising. In reality buying a timeshare with the resort or via a reseller is less risky than it has been for a long while, if you’re operating through the appropriate sources. The key problem is not the industry per se, but rather the shady underbelly, the businesses which refer to themselves «resellers», «brokers», «advisors» or worse, mimic already recognized legitimate companies. It is not too difficult to be tricked by one of these «scam companies», as with the case of many industries — besides timeshares — economic adversity sees a rise in convincing conmen.
There are many common myths about timeshares due to the poor public appearance that’s encircled timeshares and timeshare ownership over the last 20 or so years, several of these are reasonable yet others can be viewed as being a paranoid. But it’s your finances that are at risk, so you must make sure that you’re doing what you can to safeguard your personal interests instead of become a victim.
Certainly one of the greatest things you can do to ensure you are protected is not to make yourself a target for the fraudsters. Sometimes this can be easier in theory, but really it simply entails remaining careful; making sure that you don’t give particulars (or more notably, cash) to unrequested callers after you’ve had time to check out their identification and as such find out whether or not to deal with them or not.
TATOC is possibly among the best instruments timeshare owners, resorts and resales companies have in the UK. Being the main source for guidance in concerns of timeshare online ownership, they ought to generally be your first stop for anybody who is phoned by any business you are unaware of. TATOC are also a source you should go to just in case you are mislead, cheated or otherwise targeted by a scam company; they can advise you the most effective approach and put the con company to their records, which helps to prevent other people being victim themself.
Although, if you are buying timeshares you are less susceptible than you could possibly think, despite the fact that there are many unsolicited message or calls to timeshare owners providing a purchase which will never be — actively hunting for a timeshare to buy does protect you from that. That doesn’t imply you should throw caution to the wind though, making sure that the reseller you happen to be dealing with uses a neutral solicitor who holds the funds within an Escrow account means that you’re always working through a third party who will keep you secured.
Just keep your wits about you when looking to buy a timeshare or sell yours, there are respected resellers and brokers available, plus they are ruled similarly to other sectors, like insurance or finance. The key is to be aware of this; if it looks too good to be true it is — a website promising you a substantial sum of money for your timeshare or a way of disposing it quickly without trouble is most likely not worth working with. Visit TATOC and RDO websites as the first choice and beyond that you’ll know you’re in safe waters.
James Howson is a timeshare and vacation guru with well over 10 years of experience reviewing top resorts. He owns several timeshares properties and will offer expert consultancy to those who might wish to buy a time share