Some people divide real estate into timeshares in order to facilitate the sales process. This is viewed as an especially profitable method for selling real estate in prime vacation spots in many regions of the U.K. When you enter into a timeshare agreement, you are buying a property with the intention of sharing the space. Sometimes you buy the rights to several weeks of residence, or you can even acquire up to a year of time within a home. However, there are some timeshare scams that you need to be aware of.
Timeshares are often advertised with incentives. The scam timeshares include incentives such as a new car, boat or motorcycle. Some of these fraudulent timeshares promise extended vacations and other free gifts; just for listening to a presentation! The reality is that most of these timeshare offers are complete scams. Once you get to the presentation you will most likely be bombarded with highly aggressive sales tactics which are designed to make you spend money.
A recent timeshare scam in England made headlines throughout the U.K. The scam told a group of people that they had either won a boat with an outboard motor, or £1000. While attending the required presentation, guests were asked to simply pay £49.00 for the cost of delivery for the boat that they had won. When the boat arrived, it turned out to be nothing more than a plastic toy. The scammers were long gone.