In 2009, Claims Directive has received evidence that some European timeshare developers were still running illegal buy-sell stings. Every week the Claims Directive report on the timeshare buy-sell scam that was estimated to be catching over 400 European timeshare owners. This caused a lot of timeshare owners in Europe searching for timeshare relief.
Usually, most promises of a sale are made verbally by the persons involved. The sales pitch now involves a complex screen of smokes and mirrors in some of the contracts shown to Claims Directive, three of which are identified: First it may have the promise of buying a number of weeks to sell on at a profit within 12 months. Second is a rent out for a yearly income which has been loaded into the purchase price. Third is to be traded in for a profit in equity against Real Estate properties.
Those who have fallen for this scam have been left in the unfortunate position of being hit by a triple whammy. They have paid up to an estimate of 100,000 € to purchase extra timeshares. Then they find out that they cannot sell or rent leaving a maintenance bill of up to almost 10,000 € a year. Lastly is that they still own the original timeshare.
The resale value for timeshare in Europe is now at an all time low. Most of the developers don’t even wish to receive unwanted timeshares back for free. Real Estate prices in 2010 are still falling.
Almost everywhere, timeshare fraud easily spreads. Those owners wanting to get rid of their timeshares are easy targets. So when on a timeshare presentation, extreme caution should be used when offered a quick profit solution for time for timeshare disbursement.
Usually, most promises of a sale are made verbally by the persons involved. The sales pitch now involves a complex screen of smokes and mirrors in some of the contracts shown to Claims Directive, three of which are identified: First it may have the promise of buying a number of weeks to sell on at a profit within 12 months. Second is a rent out for a yearly income which has been loaded into the purchase price. Third is to be traded in for a profit in equity against Real Estate properties.
Those who have fallen for this scam have been left in the unfortunate position of being hit by a triple whammy. They have paid up to an estimate of 100,000 € to purchase extra timeshares. Then they find out that they cannot sell or rent leaving a maintenance bill of up to almost 10,000 € a year. Lastly is that they still own the original timeshare.
The resale value for timeshare in Europe is now at an all time low. Most of the developers don’t even wish to receive unwanted timeshares back for free. Real Estate prices in 2010 are still falling.
Almost everywhere, timeshare fraud easily spreads. Those owners wanting to get rid of their timeshares are easy targets. So when on a timeshare presentation, extreme caution should be used when offered a quick profit solution for time for timeshare disbursement.
