Timeshare Termination FAQ
For years, timeshare sales reps have been using deceptive sales tactics to get unsuspecting consumers to bite on a dangerously baited hook. These deceptive practices have evolved through the years and unfortunately from consumers who do not do their homework. Additionally, those who go on timeshare presentations who did not find out what a timeshare truly is prior to the tour.
Don’t be a victim of timeshare fraud. Stand up for your consumer rights!
To qualify for this timeshare termination program, the owner must be considered a Timeshare Resort Fraud Victim. Below you’ll find the top ten lies told to timeshare owners when they buy from a resort. If any of these lies sound familiar, then you Qualify as a timeshare resort fraud victim.
Being told that the timeshare purchase will increase in value, sell at a greater price, or due to location it is worth more than other locations.
Rental / Resale
Any mention or promise that the owner will be able to sell their timeshare for a profit, that the timeshare company will buy it back, or being able to rent their unit, points, or weeks to cover the cost of maintenance fees, mortgage, and any other costs.
Any mention that they never go up or that they can be offset by renting. Owners must be given the opportunity to understand what maintenance fees are and that they do go up with time.
False Sense of Urgency
Any means possible to get owners to think that they must buy today, or they will not get the same deal, or they will never be able to tour again.
Timeshare tours are to last 90 minutes. When the tour length gets over 3 hours there may be coercion.
All owners must be afforded the right to fully understand their right to terminate. This rescission period must be shown, explained, and signed by all owners.
Any meeting other than a prescribed sales presentation is against timeshare regulations. Dinner parties, party weekends, owner’s updates, or any other name for a reason to get the owners to meet for a sales presentation.
Any mention of a timeshare or the trip being a tax break or incentive.
All documents that require a signature or an initial must have been fully explained by the closing agent or it’s a violation of timeshare regulations. Many times this process will be rushed or hurried to get the owners out the door without asking questions.