Timeshare news covers the latest developments in the vacation industry. This includes updates from major developers, changes in timeshare laws and new products available for purchase. The information in timeshare news is useful for anyone considering purchasing a timeshare, or already owning one.
It’s important to do your homework before you tour a timeshare property. If you aren’t careful, you can wind up with a timeshare that costs more than you expected or is a bad investment. Here are some tips to help you avoid making mistakes when evaluating timeshare properties:
The best way to determine whether you’re getting a fair deal is to ask the salesperson about how much money vacationers spend on their annual trips. Then, cross-check that with the fine print of any agreement you’re offered. It’s also a good idea to ask about the cost of an annual membership and any upgrades that may be required.
Many timeshares are sold on the basis of “vacation ownership.” This means that the buyer is not actually buying a piece of real estate, but instead is buying a right to vacation at a specific location year after year for decades. This is a significant financial commitment that can be difficult to break.
Aside from the initial price of a timeshare, owners must pay annual dues that can rise over time. These are similar to condominium fees, and can eat away at a timeshare owner’s budget over the long term. Some resorts may also require that owners pay a special assessment if the property needs repairs that cannot be covered by reserve funds.
If you own a timeshare and are frustrated with your situation, consider seeking professional assistance from an experienced timeshare attorney. Depending on your situation, you may be able to get your dues reduced or even eliminated entirely.
Another option is to sell your timeshare on the resale market. The timeshare resale market is an active and growing segment of the vacation industry, with many owners looking to unload their timeshares for cash.
This is the most popular way to sell a timeshare. A reputable timeshare broker can help you find an interested party, who will then buy your timeshare from you at a fair price.
You can also list your timeshare for sale on a website such as TUG, where you’ll be able to find other timeshare owners who are willing to purchase it from you for a reasonable price. TUG has a dedicated staff of experts to help you make the right decision and to ensure that your timeshare transaction is handled professionally and with your best interests in mind.
There are plenty of timeshare scams out there, so it’s important to be vigilant. Fraudsters often use fake websites and emails to lure consumers into signing up for services that are a scam or aren’t worth the money. The FBI and SEC advise people to be wary of any timeshare company that sounds too good to be true or requests any sort of personal information from them without first confirming the validity of the contact.