Police warn residents about ‘Mexican Timeshare Scam’
Residents owning timeshares in Mexico are being told to be vigilant when contacted about the possibility of selling their timeshare.
Since February of 2019, the Niagara Regional Police Central Fraud Unit has received multiple complaints regarding a Mexican Timeshare Scam.
The owner of a timeshare will commonly receive a call from an individual claiming to work for an International Real Estate Company.
Often times, an online search will lead to the company website, in order to make the company appear more legitimate.
The suspects will claim that a buyer is in place for the property, and even send legal documents to be signed.
The suspects will eventually ask for wire transfers to cover costs such as legal fees, Mexican taxes, and various other closing costs, resulting in the complainant sending many thousands of dollars.
The Mexican Timeshare Scam is a common scam across North America.
Police would like to remind owners of properties outside Canada that proper due diligence should be undertaken when selling a property, including consulting your bank and a lawyer.