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The timeshare industry is known for being very susceptible to scams; however, timeshare properties are still a successful business for most resorts.
In these times of rough economic times, it is important to take care of our money, and timeshares are not the way to achieve the financial security that we are all looking for.
Learn more about timeshares and how to get out of the contract if you have been scammed.
Timeshare Properties
Contrary to what salespeople say, timeshare properties should never be considered an investment, but only as a purchase and a vacation option.
A timeshare is a depreciating asset, which means that it loses its value as soon as you purchase it.
In fact, timeshares are close to being financially worthless.
Time shares can be sold as a piece of real estate or as use rights.
The units are usually bigger than a regular hotel room, and most of them include two bedrooms, a kitchen and a living room.
The typical form of ownership is the timeshare weeks program, in which the person owns a specific week of the year, but there are other programs, such as the points system, floating time and the splited-week.
Controversy
Even though the industry is successful, there has been lots of controversy surrounding this concept.
Some people love them, some people hate them, but the truth is that there is no smoke without fire.
One of the most common timeshare complaints is that the units are overpriced.
The average price of timeshare properties goes from $15,000 to $20,000 USD, and you can only use it for one week every year.
Another common complaint is that the maintenance fees rise above inflation, becoming too high to be even affordable.
On the other hand, others complained about the tactics used by the salesmen to sell the units.
Typical tactics involve insults and a bunch of lies to dazzle the prospective buyers.
5 Tips for The Timeshare Property Buyer
Before embarking on buying timeshare properties, we recommend you follow these 5 tips:
- Survive the high-pressure presentation: Yes, timeshare presentations are extremely high-pressure, and the salesmen will do and tell you anything to get a sale done.
Do not act in a hurry, and ask as many questions as possible. If you don’t feel comfortable during the presentation, just walk away. - Know the numbers: Timeshare prices are anything but cheap, and we need to highlight that the purchase price is not the only expense to cover.
There are maintenance fees, trading fees, membership fees and many other costs involved. Do the math to find out if a timeshare is really what you are looking for. - Do research on the company: Many timeshare companies are known for having a dubious reputation.
Do some internet research on the company to find out if it is a good option to purchase a timeshare.
Look out for complaints, reviews and any other information that might be relevant to you. - Talk to other owners: It is always good to find out personally what the current timeshare owners of the resort think about their purchase.
However, keep in mind that not everyone has the same needs. Look for an objective point of view to draw your own conclusions about the product. - Do not consider your purchase an investment: This is perhaps one of the biggest mistakes that timeshare purchasers commit.
Do not purchase a timeshare to make money out of it. It is almost impossible to rent it, and even so, it is not a good option to stay at for most vacationers, being that they could stay at any other resort for a cheaper rate.
Also, the resale price will fall abruptly.
How to Get Out If You’ve Been Scammed
If you are a timeshare property buyer, and you feel you have been scammed with your purchase, there is a reliable solution to get out of the deal.
Timeshare cancellation is the way to go to finally cut every string attached to the resort.
At Mexican Timeshare Solutions, we offer each of our clients a free consultation with one of our associates to gather more information about your specific situation and advise you about how we will go about canceling your contract.
Contact us today for your free consultation; we pride ourselves on achieving fast results with excellent customer service!
To receive more information about timeshare properties and how to cancel them, send a WhatsApp to +52 333 239 6589, fill in the form in the contact section, or call us at +1 714 277 3662.
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Leave your comment below and share your opinion with us.What do you think about timeshare properties?To know more about timeshare sales visit:
i agree, never never never consider a timeshare as a purchase, you will not have anything in return
Many Americans and Canadians still don’t realize real estate is not regulated very much in Mexico. Sad, but true.
Many Americans and Canadians still don’t realize real estate is not regulated very much in Mexico. Sad, but true.
pensar antes de actuar es lo mas importante, y tambien no aceptar ir a presentaciones si no te tiene el deseo de adquirirlo, para no caer en tentaciones
Why anyone would buy a timeshare is beyond me. What other expensive product would you buy on the spot without doing any research as to the claims the salesmen make. They have no resale value, you're locked in for the rest of your's and your heirs life, and you could probably stay where ever you want, when ever you want for less in the long run. Ask the salesman what's the last big purchase he made without researching it first, what's the resale value, why are there so many timeshares on ebay selling for peanuts, and what if you want out.
A good investment will never have an army of sales people trying to convince you that it is one.
Time-shares are products: caveat emptor.
es importantisimo estar bien informado de lo que ocurre en las presentaciones de tiempos compartidos y preparados para los vendedores
Honestly, timeshares aren't cheap so one should be able to maximize the value of this investment. If it does not fit your lifestyle, it wouldn't be a good investment for you.
no son una buena compra porque resultan siempre ser muy caras y al final se viaja mejor con una agencia de viajes que con una propiedad de tiempo compartido
i think the timeshare is an investment cause it's money!!!!!!!!
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