It’s a classic decoy. You are on vacation Vegas, ready to try their luck at the casino tables or catch Bette Midler show, when a seller of clipboard carrying materializes before you. How about a pair of free tickets, she wondered. All you have to is sit through a 90-minute presentation timeshare. What could go wrong?
Everything, actually.
If you are not prepared for what lies ahead, it could end the evil owner of a timeshare. There is no shortage of complaints from timeshare companies and programs, that is, too often people get caught in the moment and participate in the timeshare property without being fully aware of the facts. If you know what you’re doing, and take steps to prevent yourself from unscrupulous companies, you can avoid the emotional and financial difficulties that some experience.
The timeshare business has been around in one form or another since 1970. According to a 2007 ARDA International Foundation Studies, the national timeshare industry has grown from a $ 2.2 billion in 1996 to U.S. $ 10 billion in 2006. At last count, there were 1615 stations across the United States representing 176,232 units.
Timeshare properties are typically in the critical points as Branson vacation, Cancun, Las Vegas, Myrtle Beach and Orlando. Many of the companies promoting the timeshare are legitimate. But if you do not know how timeshare presentations and incentives that are offered work, you will be able to be conned or persuaded to buy something off-guard – a decision that may later regret.
Timeshare Complaints are usually made to the Federal Trade Commission (FTC) and the Better Business Bureau of the State in which the firm operates. A quick search can produce dozens of complaints for various reasons, and in fact 2007, the FTC’s list of fraud complaints from consumers placed higher timeshare and related operations in 9th place, representing the two per cent of complaints from the agency.
A good number of travelers are faced with the option of attending a timeshare presentation while on vacation or are tempted to take holidays in the first place in order to attend the presentation. All too often caught up in the emotion of the moment and make a purchase I later regret, and have little or no recourse to get out. Here are some tips to help you avoid scams timeshare vacation:
1. Do not buy on emotion. No matter what arrangement will be presented, dom’t undertake to buy some timeshare presentation unless you already have researched the pros and cons of timeshare ownership. Certainly not for everyone, and financial investment should be considered carefully. If you can, take the material home and take the time to read and understand fully what they will accept.
2. Gifts are not always free. Awards and incentives offered as part of a presentation can have “fine print restrictions.” They know what they are before accepting them. Furthermore, time-share many come with a period of three to five days, when the purchase can be canceled without penalty (a “termination” period). These periods of recession are governed by state law. To find out what your state requirements are, call the Attorney General’s office or visit the department website. If you take advantage of a benefit of being a timeshare owner during this period of recession, is to annul any right of cancellation. One benefit may be as simple as discounted tickets for shows. A good rule of thumb: If you are asked to pay for something, for example, “no thanks”.
3. Read what you are signing. Read the timeshare and have it reviewed by a lawyer. If the salesperson promised something that is not in the contract do not sign the contract. Some timeshare companies provide a “verification officer” to review the contract details with you. Pay special attention during this time, and be sure to read every word of the contract. You never know what you’re agreeing to if you do not read it. Note: Some companies do not allow you to exit the presentation with a copy of a signed contract. If this happens, is a clear sign that something is not right, and you should leave as quickly as possible. Outside the U.S., especially in Mexico, it is important that the lawyer to turn to for help are familiar with the laws governing timeshare there. Owners of travel agency Travel John Frenaye with Fred in Annapolis, Maryland, had a client who thought he was buying a timeshare 30,000 pesos, when in fact it was $ 30,000. The contract he signed was in Spanish, and after some research ended chalk the experience as a bad decision.
4. Remember, you do NOT have to take it. Most timeshare presentations involved high-pressure tactics of sales. If you do not think you can handle, do not go. In addition, the presentation makes you uncomfortable for any reason, get up and leave politely. Do not allow vendors to discuss with you or convince you to stay. Some clients of travel agents I know have left, only to be with vendors, and from time to time vendors have been known to shout out to customers, and even more oil to get their statements. It is worthwhile to research company hosting the presentation to see if they have problems like this with your sales staff.
5. Research! Research! Research! A timeshare is a property investment. It is important to treat the same as if you buy a house. Do not buy blindly. Do research, and know what they’re buying.
6. Save it for another day. If you decide to attend a presentation, not to do it on a honeymoon or other special holiday occasion. While on vacation, the guard is down, but on a honeymoon or other special getaway, the guard has been reduced further. Besides, who wants to lose three hours in a presentation on their honeymoon? Laura Frazier, Honeymoon Bliss in Columbus, Ohio, is often found with brides who are attracted by a honeymoon “free” as an incentive to attend a product demonstration company. Company compliance with the “free” honeymoon has a bad reputation with the Better Business Bureau, and many of its practices of red flags rise.
Timeshare ownership has many advantages and disadvantages, and should be carefully designed by the potential buyer. When you’re on vacation, or if you are prepared about what to expect, the whole experience can result in disaster. Leaving the excitement of buying, what they are signing, and are prepared as much as you might, it can skirt a timeshare tragedy.