Timeshare sales people shout
about the opportunity to become an owner of a timeshare resort. Sure, the
ability to return year-after-year comes with a certain sense of security; your
next vacation is planned.
However,
despite the security of a so-called guaranteed vacation, timeshares can be a
very expensive propositions with lots of unforeseen restrictions.
That
is why some many people cancel
timeshare after they
buy one. Today everyone is asking the question: Does a timeshare make financial
sense?
Understanding
timeshare ownership; it entails payment of an upfront sum plus yearly
maintenance fees.
Depending
on the timeshare arrangement, owners either own the rights to a specific, fixed
week or the rights to a floating arrangement, where they can visit for a week
within a period of time each year.
It’s
important to understand that with the wrong sales people both kinds of
time-sharing can very easily become a timeshare
scam.
Fixed And Floating Timeshare ArrangementsCan Either Be
Deeded Or Non-Deeded.
Deeded
timeshares are considered real property that can be sold or passed on to the
next generation.
Non-deeded
or right-to-use timeshares function more like leases, where an owner
can use the unit for a specified time period for a number of years.
??? Are Timeshares A Good Investment ???
The
Federal Trade Commission warns against buying timeshares as financial
investments.
Why?
The reason is very simple, the value of a timeshare generally decreases big
time the day after purchasing the timeshare.
Additionally,
vacation resorts are more desirable when they’re first built, and their
facilities and amenities are brand-new; as they age, they become increasingly
less desirable. Which is why so many people feel like saying: cancel
my timeshare.
Owning A Timeshare Is very much Like Owning A Car – Both
Depreciate A Lot The Second You Buy It.
In
this way, owning a timeshare is a little bit like owning a car: You may get a
lot of use out of it over the course of ten to twenty years, but it won’t be
worth much once you try to sell it.
Additionally,
there’s no cap on yearly maintenance fees, so the amount you pay every year
will increase. After learning this many people want to again say; cancel my
timeshare
Look For These Warning Signs To Detect Resale Fraud
Now
days’ timeshare scams are
targeting timeshare owners who want or need to resell.
Many
timeshare owners may decide they can no longer afford their timeshare payments
or they may have inherited a timeshare as part of a parent’s estate and don’t
want to keep it. That’s where timeshare scams come in.
The Basic “Timeshare Resale Scams”
Works Like This:
Scammers
target likely sellers of timeshares with the promise that they either have a
buyer ready to purchase the timeshare or the assurance that they can sell it.
All
you need to do is pay an upfront fee—usually done by a bank wire to cover
closing costs, services, taxes, timeshare maintenance or other fees.
Unfortunately,
once you wire the money, no sale, rental or purchase and for sure no timeshare
cancellation is
completed and the scammer disappears with your money.
Here Are Three Steps
To Help You Stay Clear Of Possible Timeshare Resale Fraud.
1. If It Sounds Too Good To Be True, It Probably Is.
Timeshare Resale scammers
often promise they have a buyer who is ready and willing to pay a lot in order
to get you to send money. Be cautious; no one can promise a quick sale.
2. Don’t Wire Money, Pay In Cash, Or Send A Money Order,
Certified Bank Or Cashier’s Check.
Money sent by these methods is very difficult for law enforcement officials to
help you recover. Most of the time, it’s as good as lost and will not bring a timeshare
resale.
3. The Unpleasant Fact Is, Most Timeshare Resale And Rental Companies
Are Rip-Offs.
As said before, many times they pretend to have a buyer for a seller even
though the seller’s timeshare has never been listed.
Unfortunately,
there are countless timeshare owners who have been taken advantage of by
unscrupulous businesses offering to sell or rent their timeshare properties for
a fee, all the while knowing that the timeshare owner’s properties will never
rent or sell.
The
overwhelming majority of these timeshare resales or rental companies are fly-by-night
companies that are nothing more than listing companies.
The
good news is, the Timeshare Cancel Center offers
free timeshare
resale or rental
counseling services to ensure that the resale company a timeshare owner is
considering is in fact legitimate.
A
part of our service is to educate consumers who are considering timeshare
resale.
For
the timeshare consumer that has tried to resale their timeshare or for the
timeshare owner that feels they have been misled and/or are victims of
unethical and fraudulent timeshare sales practices while purchasing or
upgrading their timeshare the “Timeshare
Cancel Service” is
a very good service for them.
FOR A FREE CONSULTATION
Call 24/7: 1-855-600-9053
We Invite you to get a FREE consultation and let our
professional timeshare consumer advocates explain all your consumer protection
rights.
For A Free No Risk And No Obligation Consumer Advocate
Consultation Call 24/7
