At Resort Advisory Group, our team routinely speaks with timeshare owners expressing frustration. They want to cancel timeshare contracts because the timeshare didn’t meet expectations. When they attended the presentation, a sales rep assured our clients that purchasing a timeshare was akin to investing in real estate. As a real estate investment, the sales rep indicated excellent prospects for the timeshare to appreciate in value.
One of our clients told us that the timeshare rep that pressured him to buy paraphrased the famous actor Will Rogers’ line: You’ve got to buy more real estate. It’s a great investment because they’re not making any more of it.
But timeshares differed from traditional real estate investments. Any investment required due diligence. People who advised on investments should have credentials and licenses that authenticated their expertise.
Although we’re not registered investment advisors, we can look online and see that people advertise timeshares for sale on websites every day. People can purchase those timeshares for as little as one penny.
Since we don’t see much real estate available for a penny, it would seem that timeshares differed from real estate investments. Over time, good real estate investments brought substantial returns. They provided great rental income, tax benefits, and upside appreciation.
We rarely saw such benefits for people who purchased timeshares. When our team spoke with people that wanted to cancel timeshare contracts, many of them expressed frustration. Those owners told our team how the timeshare rep manipulated their buying decisions. They would not have purchased the timeshare if they had understood that rather than appreciating in value, the timeshare would come with escalating maintenance fees. Had they known they could purchase the timeshare online for a penny, they never would have purchased.
If you feel that a sales rep manipulated you into purchasing a timeshare, contact our team at Resort Advisory Group. During the free consultations, our team will help you understand options. If the developer doesn’t cancel your obligation on the timeshare, you will not pay a penny for our services. Call 1-800-334-9176.