How do I know if I was a timeshare scam victim?

The sale of timeshare ownership has become an enormously profitable way for resorts to generate additional income. In essence, buying a timeshare means that you get to share a vacation property with different parties, usually divided by 52 weeks. If you are interested in getting one of these properties, it is very likely that you have to assist a sales presentation, where you will be pushed at a certain point to sign a sales agreement. But, how do I know if I was a timeshare scam victim? In the following paragraphs we will tell you the most common lies said during timeshare presentations.


Timeshare scams: One of the most popular frauds in Mexico
Mexican timeshare fraud has been increasing over the last years, this according to PROFECO, the Government’s Consumer Protection Agency in Mexico. Only this year, from January to April, 478 complaints about 20 different timeshare companies have already been filed, but that is only the beginning. After the complaint is filed, it takes a long time to accomplish a conciliation of the case, and that is not always possible.
Before buying a timeshare in Mexico, it is very important that you get to know your timeshare cancellation rights. When you purchase a timeshare in Mexico, you have 5 business days to cancel the contract; this after the contract is signed. Another important thing to know, it’s that under the Mexican law, verbal promises are not valid if they are not written. Therefore, you should read your contract very carefully before you sign it.