What is a Timeshare? Timeshare also known as “Vacation Ownership” is basically where you buy the right to spend a certain period of time (typically a week or more) at a specific hotel resort in exchange for an initial buy-in amount plus an annual maintenance fee .
The sale of timeshare in Mexico is well regulated as the Federal Consumer Law requires for specific provisions to be included in all timeshare agreements which protect the consumer. To ensure the above, all timeshare providers must register their timeshare agreement before the Federal Consumer Agency (PROFECO) and prove that they can provide said services. When buying a timeshare ALWAYS LOOK FOR THE REGISTRATION NUMBER ON THE TIMESHARE CONTRACT.
Despite the efforts to regulate the timeshare industry, there are many unregulated “timeshare providers” operating in Los Cabos, looking to make a quick buck by defrauding their clients. Here are 5 red flags to watch out for before purchasing a timeshare.