We set out to claim our free gift in exchange for a 90-minute tour of the resort, which wound up being a 4-hour timeshare presentation, with about 20 other couples and half as many resort sales closers. Our salesperson had all the right answers when we told him the payments and fees were a stretch on our budget, but he told us not to worry because we could cancel the contract, after thinking on it for a few days.
He said we may lose an opportunity to buy at such a great price, with it being a foreclosure and $9,000 in discounts. Besides, rentals were in demand or we may possibly resell at a profit. The Mrs. And I were exhausted, needing lunch and a little down time, and then the purchase contract, including resort disclaimers, is presented to us (14 pages). “A brief description of the contract was given and five minutes later we signed the contract.” Within minutes, we were in the dining room having a splendid lunch, compliments of the resort.
Returning home a week later, we started reading the contract and realized we didn’t fully understand what we signed. We called the resort telling the customer service representative what a beautiful resort they have but, after considerable thought, canceling out of the agreement is the best thing to do. All of my reasons for canceling were discussed with a very personable representative on the phone for about 15 minutes. At the end of the call, the representative said she would take care of everything and I would receive a confirmation letter in 14 days. We thought that was the end of our timeshare dealings until we received the resort letter stating that our recession period had passed, our down payment was not refundable and our contract was legally binding along with the timeshare mortgage payment and monthly maintenance fees.
We contacted the resort salesman and he referred us to a timeshare listing company in Florida. The listing company guaranteed to find us a buyer in six months and needed $750 upfront for title and escrow. Over time, we tried a rental company and another listing company, never receiving an offer. We’re out over $2,500 trying to sell while making combined payments of $670 every month to the developer. We have never been able to use our resort because the dates we’re off work are impossible to reserve.
The resort told us we could upgrade to the platinum level and get better use of our timeshare and that would make it more desirable, should we try to sell again. Long story short, we got more of the same and 50% more maintenance fee. We’ve been slow paying the maintenance a few times and the resort has threatened to report us to the credit bureau. “We’re desperate to get rid of the timeshare and not leave a timeshare inheritance to our son”
Our consultants hear about these situations daily concerning timeshare ownership. The previous scenario is compiled from over 100 clients and may be your story too. The documents signed at your timeshare closing were carefully crafted by Resort Attorneys with the Resort’s interest protected. Every timeshare purchase can have unique circumstances that need to be discussed with our seasoned Timeshare Experts, and reviewed with our company retained contract attorneys. Every client accepted by Fidelity is guaranteed a timeshare cancellation or the fee is returned.
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