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Remembering why you bought your timeshare! (by R P.):

dennish144 wrote:

I read this with interest. I'm trying to identify those items mentioned that a reasonable person couldn't have anticipated had they read the sales documents. Of course, they could have rescinded the transaction during the few days following their purchase.

My primary complaint with timeshares is that there is no reasonable exit strategy and this is deliberately left out of the sales presentation. Proper disclosure of the consequences of the resale of your unit would caution buyers to the potential pitfalls.

Before the 2007 recession hit (and timeshare was a HOT item), people could actually resale a sellable timeshare for what they themselves bought it for on the resale market. I sold several for what I paid on the resale market before the recession hit, however since the recession I doubt I would be able to sell any of my previous resale bought timeshares for any price. There's little market for timeshares these days.

As for an 'exit strategy' when you sign on the dotted line to buy a timeshare ..... with all due respect, it's not the developer's responsibility to offer such. It's just like signing on the dotted line to buy a home. The real estate salesperson doesn't include an 'exit strategy' in the contract. I don't believe many people that bought timeshares or developers ever thought that such a downward spiral recession would hit.

If someone desperately wants out of a developer bought (or even resale) timeshare, then they can offer it at Redweek's Bargain Basement .... thousands have successfully done such.