There are many reasons or excuses for why you have purchased a timeshare. After all, despite knowing that these are generally a scam the idea of an affordable vacation home coupled with a very persuasive sales rep often equals a timeshare purchase.
Unfortunately the cancellation period on these contracts is very short; it can often be finished before you finish your vacation. This means you don’t realize your mistake until it is too late to cancel. To make matter worse, it is only when you start rationally breaking the market down that you will realize the timeshare vacation will cost you hundreds of dollars more than simply booking a room somewhere.
This problem is further escalated by the fact that you have told all your friends about your wonderful investment. Realizing it is not what it should be does not help; you will not want to embarrass yourself by admitting you made a mistake and getting legal help.
You Are Not Alone!
In fact, you are in very good company. Figures produced by the New York Times suggest that timeshare sales have risen by as much as 25% since 2010; approximately nine million Americans own one!
To illustrate the issue with timeshares you should read the article by the New York Times, entitled “The Timeshare Hard Sell Comes Roaring Back”. It draws attention to resorts who have managed to double their revenue in the last seven years; all through sales approaches which are designed to trick you.
This is why timeshare companies are currently dealing with massive lawsuits in California and Florida; the sheer number of customer issues necessitated action.
Many resort developers engage in these practices. The general trend seems to be to get potential customers into a room and promise them it will not take more than two hours. Then, after eight hours and the feeling that you cannot leave without signing; you finally give in, believing it is a worthwhile investment.
You can be forgiven for this; after all the sales people will extol the virtues but forget to mention any downsides.
The Real Cost
Maintenance, taxes and interest can mount up to several thousand dollars a year; despite the fact that you could rent the same unit for half the price per year! You are simply giving the developer easy access to additional profits without any real gain yourself.
This is why you see timeshares selling for just $1, or most likely not at all; the original buyers are desperate to offload them.
But, legal advice can help! When you have purchased something through a misleading, high pressure sale tactic it is possible to have the contract cancelled. It is legally impossible for the developer to enforce the contract if you have been miss-sold, misinformed or simply not been given the relevant facts.
It is not too late to speak to a legal professional and discover the options available to you. You may never actually get your money back, but you certainly shouldn’t need to keep paying.
The Fidelity timeshare attorney network has decades of experience in legal timeshare cancellation. As a consumer, you have the right to be thoroughly informed about the product you are purchasing and to be protected from fraudulent or misleading information when making a buying decision. The Fidelity timeshare attorney network makes expert representation affordable.
Fidelity Resource Management offers a free evaluation of your situation and our legal team will determine if you have a case for legal timeshare cancellation.
Call us today at 877-218-3223!