Timeshare news is the latest information about the timeshare industry. This information includes upcoming events, new products, and changes in the market. This information can help you make informed decisions about buying or selling a timeshare.
Be aware of timeshare scams
Many people are unaware of timeshare scams. These companies promise to get you out of your timeshare, but they don’t have the ability to do so legally or ethically. They may take money in advance, ostensibly to cover legal costs or fees related to the termination of your timeshare.
The Better Business Bureau (BBB) is warning consumers to be extremely wary of any company claiming it can get them out of their timeshares, even with offers of a full money back guarantee. Consumers can learn more about timeshare scams by visiting the BBB website or calling them at 1-800-BE-BBB.
A Timeshare is a vacation property with divided ownership rights, usually in the form of a studio or apartment. The owner of a timeshare typically shares the property with other owners who pay a maintenance fee.
These properties often become expensive, as maintenance and repairs need to be made. This can lead to significant losses if you’re unable to use your timeshare.
Avoid timeshare presentations
Sales representatives are trained to use high-pressure tactics to get you to buy a timeshare. They will break down your defenses, argue aggressively and try to use emotions to manipulate you into buying on impulse.
You should leave a timeshare presentation when you feel uncomfortable or if they are not discussing your interests. It is illegal for a salesperson to demand that you stay in a room they are not allowed to.
If you do decide to sign a timeshare contract, be sure to read the agreement carefully and ask for a copy of it. You’ll want to understand all the terms, and you should be able to explain any concerns you have.
Consider using a reputable timeshare resale company
If it’s your first time buying a timeshare, consider going through a reputable timeshare resale broker. These professionals have years of experience with the most popular vacation exchange networks. They will also help you negotiate the best price for your timeshare, ensuring you receive top dollar.
Beware of timeshare exit companies
The number of complaints filed against Missouri-based timeshare exit companies has exploded in recent years, with consumers reporting millions of dollars in losses to these firms. In the past year alone, more than 700 consumer complaints have been filed with BBB against these businesses.
Some consumers have lost up to $30,000 each, according to BBB. Other victims have paid $1,000 or more to these firms, who promised they would get them out of their timeshares and refund their money.
This type of scam is not only in the state of Missouri, but it’s also widespread across the United States. In fact, BBB has received hundreds of complaints about timeshare exit companies from consumers in 46 states and the District of Columbia.