Post reply

Remembering why you bought your timeshare! (by Lance C.):

phill12 wrote:

Timeshares are still a great investment if you remember why you bought yours! To many owners now days jump on these timeshare forums and hear how someone was scammed or cheated and paid to much money and now want to know how to dump their unit. Way to many people jump on this band wagon and hate their timeshare for no other reason than others whining about it.

Yes some people lost jobs,income...

The reason why so many bought (from the developer) was because the salesperson(s) lied, exaggerated, misled, misrepresented, and oversold what owning a timeshare could do for the buyer.

True, the buyer should have done more research before quickly handing over thousands of dollars for and on-the-spot, spur-of-the-moment purchase but those purchases were likely based on all the lies and misrepresentations the salesperson(s) used.

For instance, did the salesperson(s) disclose to the buyer during the sales presentation that maintenance fees would increase faster than the buyers' wages? Did he/they mention property taxes and/or reserve funds?

What about the classic, "Oh, you can rent it out for [well above your maintenance fees]" when we all know that it's not as easy or guaranteed as it sounds?

Then, of course, there's the ploy where they hand you the catalog for RCI or Interval International telling you that you can exchange anytime, anywhere at any of these zillions of resorts for a "small" exchange fee. Yeah, right.

Oh, don't forget about "Why rent when you can own? You're buying a property with equitable value that you can sell down the road if you ever tire of your timeshare." Yeah, sell for how much?

Now, I'm not saying timeshares are evil. Many owners who did their research made wise purchases and are happy. But those who bought from those salespeople are probably angry and frustrated that all those promises made at the presentation are far from coming to fruition.

As for those who "now want to know how to dump their unit", that's probably because they realize that they can rent for less than the amount of their maintenance fees and, inversely, cannot recover their maintenance fees if/when they rent it out (if they can even find a renter).

Also, the last sentence that I quoted from you may sum up some owners' frustration. They bought thinking that it would provide them with a lifetime of travel savings only to find out that three years down the road, their situation changes and can no longer afford the maintenance fees or the travel expenses.