Buying a timeshare in Mexico may seem like a great idea at first. You may be swept up by the beautiful beaches, the luxury amenities and the friendly sales staff. However, there are legal issues that you should be aware of. If you find yourself in a dispute with the timeshare company, you should seek the services of a real estate lawyer. These professionals will be able to protect you in court, if necessary.
Mexican timeshare laws are complicated. It is best to have an attorney review your contract before you sign it. They will be able to help you understand your rights and help you navigate the cancellation process. If you are unsure of what your rights are, you can also contact the consumer protection agency in Mexico.
Mexican timeshare contracts are generally more flexible than those in the United States. While some of them still involve monthly fees, you have the right to cancel your contract within five business days. You are also entitled to a full refund if you do decide to cancel. If you do cancel your contract, you will need to send the original contract and a copy to Profeco, a consumer protection agency in Mexico. The originals must be sent by shipping method that requires signature.
Mexican timeshare laws also require you to pay yearly fees, and these fees will usually increase each year. You also have to pay periodic maintenance fees. These fees are usually high, and are likely to increase over time. If you have not paid the yearly fees, you may lose your vacation club membership. You can also have your money refunded, but you may be required to repay the club dues. Check Mexico timeshare contract.
Timeshares are not a good investment, and you should avoid them. They can become emotionally and financially draining. You may end up with inflated maintenance fees and high interest mortgages. A timeshare is also not a good choice if you have bad credit. You may be able to get a full refund if you cancel your contract within 15 days, but it is best to consult with a legal professional before making a decision.
You can also contact the Consumer Protection Bureau for mediation services. They will be able to send you a certified letter to the resort. You can also ask a real estate attorney to represent you in court. They can help you negotiate with the timeshare company.
When you purchase a timeshare in Mexico, you should always consult a real estate attorney. This is to ensure that you are not committing fraud. While the Mexican timeshare industry is regulated, there are still instances of fraud. The best way to avoid getting ripped off is to get everything in writing. You should also make sure that the contract contains all the information you need. This includes the correct information on the unit, the price, the characteristics and guarantees of the resort, and the guarantees and guarantees of the timeshare company.