MONTGOMERY, AL (WSFA) - While it would be nice to own your own beach home or condo, for a lot of folks it’s just not in the budget but there are other options.
A lot of families invest in time share properties where they become part owners of a condo and get to use it a certain number of days per year but before you sign on the dotted line there are some questions you need to ask.
“You need to know the amount of time you're buying and when you can use it,” said David Smitherman with the Better Business Bureau. “Plus, what is the cost beyond the purchase price, the maintenance, taxes, and other things you may be responsible for?”
Smitherman says, before you agree to your portion of paradise, be careful of high-pressure sales tactics. He's says it's pretty common. Also, when in doubt go with a reputable company and a name you recognize. And like many big purchases in life, know what happens when it's time for you to sell.
"If you find yourself in a situation where you no longer use it, or don't want it, how do you get rid of it?”
The Better Business Bureau says scammers often go after people who are trying to sell their timeshare. They will call you and say they have a buyer lined up, you just have to pay the remaining taxes and a processing fee. If this person contacted you out of the blue and wants you to wire them some money, that's a bit red flag and likely a scam.
If you want to look up a certain company be sure to use the Better Business Bureau ScamTracker.