Timeshare Newsflash

Not Feeling So Good About Your Timeshare Purchase?

Timeshare News Flash - 23, Source: Freeimages, royalty free

Deanna Keahey, Should I Cancel My Timeshare Purchase, Winning the Timeshare Game, Timesharegame.com: So the ink is barely dry on the sales documents, the hard-sell sales agents are gone and you have escaped the timeshare sale presentation. But now second thoughts come tumbling into your mind. How can we afford this, you think. You are mortified that you have actually purchased a timeshare and now you just want out of the contract. Where to start?

Most states have a “cooling-off” period, called a rescission period, that refers to an amount of time, usually measured in days, that you have to cancel your contract outright if you suffer from “buyer’s remorse.” This rescission period varies in length by state and it should have been discussed with you during your timeshare presentation and paperwork provided with instructions about where to send the filled-out document. If you are having second thoughts about owning your timeshare, don’t hesitate to get the paperwork filled out and sent in. If you miss the deadline, you have lost your opportunity and are stuck with your timeshare.

Timeshare Rescission laws were enacted to protect consumers who, because of the very nature of timeshare sales, feel rushed, intimidated, or do not understand the terms of their timeshare contract. Why does this happen?

1. Buyers are enticed into attending timeshare sales presentations with all intentions of saying “NO” but after long, arduous presentations by very skilled sales agents, they find themselves signing on the dotted line just to escape the presentation.

2. Most timeshare sales presentations are advertised as 90 minutes long, but once they get going, the result can be hours of ever-increasing sales pressure, leading to a signed sales document. Consumers feel rushed into the sale by indications that the sale price is “only good for today” and that others are waiting to buy.

3. As a major financial commitment, a timeshare represents a rather large sum of money that can affect a consumer for many years into the future. There are maintenance fees that last “in perpetuity” and can pass on to the consumer’s heirs. It is best to have a time away from the sale presentation pressures to discuss it with family or financial advisers.

4. Most consumers find that, because of the pace and relentless nature of the timeshare sales presentation, they become confused about what is being offered. Consumers should ensure that every question is answered to their satisfaction before deciding to purchase.

5. One very important aspect of the presentation is the lack of time for the consumer to research what is being offered. Without properly vetting the timeshare property and timeshare contract, the consumer may sign without the understanding they need to make a fully informed decision.

But what if you find yourself past the rescission period and it seems that you are stuck with your timeshare. Most people try to sell their timeshare, but without any real luck. The process leads to the realization that timeshares are really not worth much. To see this take a look at ebay, where timeshares are going for $1.00 because their owners just want out from under them. There are timeshare resellers who will, for a steep fee, sell your timeshare for you. Some even go as far as to guarantee a sale or they will buy it from you. There are major scams throughout the timeshare resale industry and you should thoroughly vet any timeshare reseller that you are thinking of using.

One viable and attainable request, that we at the Aaronson Law Firm have received from all of our clients, is to consider the cancellation of your timeshare contract. During the disorder and confusion of the timeshare presentation, there may have been many misrepresentations, deceptions and outright lies told to you, or vital information not presented to you. Perhaps they told you that your timeshare purchase would become a great investment, or “forgot” to mention the rescission period altogether, or even ignored the rescission paperwork that you turned in on time. The attorneys of the Aaronson Law Firm have many years of experience with making timeshare cancellation a reality for their clients. They stand ready and able to help you by bringing the pressure to bear on your timeshare developer to procure the cancellation of your timeshare. They can also bring litigation where necessary to get you the satisfaction that you deserve. Contact them now – it’s not too late…