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The Timeshare industry has always given much to talk about; the truth is that some people love it, some people hate it, and the reality is that the sales are still on the rise.
What is it about timeshare ownership that causes such incredible controversy? Read this article to learn how timeshare sales agreements work, and why so many people want to get rid of them.
Timeshare Purchase
In order to get a sale done, timeshare salespeople tell the prospective buyers that they’re making a great investment by getting a fractional ownership, but, is timeshare a good investment? The truth is that it is not even an investment, in fact, it should only be considered a purchase, being that it doesn’t have any possibility of financial growth.
It is also important to highlight, that timeshare purchases have also been considered by many financial experts, as one of the worst purchases you could ever make.
They are way too expensive, and even if the unit is paid in full, the owner is still attached to the monthly payments, such as maintenance and membership fees.
Timeshare Sales Agreement
A timeshare sales agreement is the contract that you get at the moment you purchase a fractional ownership.
Most timeshare companies make them long and difficult to understand, so the buyer doesn’t know well what he is getting into, and the terms and conditions are especially made to benefit the resort, but not the owner.
The timeshare sales agreement gives you the right to use the resort, for a certain number of years or for a specific number of weeks.
That means that the developer still owns the resort, so your interest would not be considered real estate.
Also, it is very likely that most of the verbal promises made during the presentation are not in the contract, and many of the agreements have no cancellation policy.
Reasons to Get Rid of the Sales Agreement
There are many reasons to get rid of a timeshare sales agreement; however, these are the most important:
- The timeshare maintenance fees increase considerably each year
- The chances of reselling the timeshare are almost nonexistent
- The timeshare was sold under deceptive sales tactics
- You will not be able to use it
- There are no possibilities for renting the timeshare
Timeshare Cancellation
The best solution to get rid of a timeshare sales agreement is by canceling the contract. Timeshare cancellation offers you the opportunity to cut the strings attached to the resort in a secure and efficient way.
At Mexican Timeshare Solutions, we assist timeshare purchasers who have become victims of a timeshare scam.
Contact MTS today for a free consultation to discuss the possibility to cancel your timeshare, with no upfront fees.
To receive more information about timeshare sales agreements and how of canceling your timeshare, send a WhatsApp to +52 333 239 6589, fill out the contact form, or call us at +1 714 277 3662
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Timeshare agreement: Is it a fair contract?
LIE, i have 2 years without using my timeshare.. i dont know what else to do
Compré un tiempo compartido en Royal Elite, con un plan todo incluido que me dice mi vendedor que en junio 2013 estaba en 60 dólares. Recibí las tarifas de 2013, y ninguna es de 60 dólares, y ahora quiero cancelar por incumplimiento de contrato, me intiman con una carta ULTIMATUM a ver qué. Ya les contaré.
claro que las posibilidades son inexistentes porque, ¿quien querria seguir perdiendo su dinero? nadie deberia seguir comprando tiempos compartidos
exactamente nunca se podra utilizar, dicen tantas mentiras que te convencen de todo y al final pierdes tu dinero, tu tiempo, todo
pongan mucha atencion y sean extremadamente cuidadosos al hacer algun trato con un extraño, ya he sido estafada y salir de esto ha sido un infierno
asi es, a mi me vendieron un tiempo compartido diciendome que seria una gran inversion, y que si algo iba mal ellos me ayudarian a cancelar, asi que no tenia nada que perder, y ahora que quiero deshacerme de el, simplemente me ignoran
Yes, unfortunately it's always about the resort, and never about the client.
I spoke with a co-worker and he told me that he purchased a used timeshare from a friend and he pays minimal yearly fees to be able to swap his week timeshare essentially anywhere he'd like to. I believe he paid approximately $1,000 for his timeshare and has saved tons of money on hotels while using his timeshare and that most of the places he has stayed are much bigger and nicer than most hotels. Is this something that's a reality for someone who wants an inexpensive getaway? If so where do I go to find something like that?
The timeshare scams became especially rampant in recent years as many consumers struggled to unload properties they'd purchased during better financial times.
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