Timeshare sales are very common these days. Resort companies and worried owners are doing all that is possible to sell their timeshare properties, but the problem is that the supply exceeds the demand by far. If you go on vacation to a well known touristic spot, it is very probable that you will be approached by a timeshare salesman. No matter where you are: at the airport, on the streets, on a restaurant, timeshare salespeople are everywhere! And if that’s not enough, the internet is also infested by thousands of timeshare sales deals. In the following paragraphs, we’ll describe how timeshare sales are seen from different perspectives.
For the companies
Timeshare companies make a big part of their incomes out of timeshare sales. It is very profitable to them, since each company can sell hundreds of rooms to different owners. If every timeshare unit has an average purchase price of $15,000 USD; just imagine how much money the resorts become from the timeshare sales plus the annual fees every owner has the obligation to pay, it is extremely lucrative for a timeshare resort to sell timeshares, that’s why they insist persistently to people to attend to their timeshare presentations.
Unfortunately, the grand majority of the timeshare sale are made under high-pressure sales tactics, and that is one of the biggest complaints timeshare scam victims have. Figure it out, why would a timeshare company give you fantastic gifts and free meals just to attend to a timeshare presentation? Very simple, they will do everything that is possible to sell you a timeshare during a 4 hours presentation. Is the free breakfast worth it? Think about it.
Besides the timeshare resorts, there are also many resale companies. Timeshare resale scams take millions of dollars every year. According to Lois Greisman, Associate Director at Federal Trade Commission, there are tens of millions of dollars being bilked from people who are trying to sell their timeshares. Many of these are “ghost companies” and as soon as they get an upfront fee, they disappear.
For an owner
If you think it is difficult to sell a house, try to sell a timeshare: it is almost impossible. If you surf on the internet, you will find hundreds of timeshare sale listed on sites like EBay, RedWeek or Craiglist for the unbelievable price of one dollar or even less. This fact reflects the desperation of many owners to get rid of their timeshares. For every prospective buyer, there are about 600 owners looking to sell their timeshare in America.
Unluckily, timeshare sales are not a good option to dump a timeshare. Selling a timeshare is not only difficult, but tremendously hard. Timeshares are overvalued, and in addition to that, they lost over 70% of their cost when they are first acquired. That means there is no possible way an owner can make a profit by selling his timeshare, or even sell it for the same purchase price.
For a prospective buyer
Timeshare sales can be also seen from the prospective buyer’s perspective. For those who are looking to buy a timeshare, it is highly recommended in several timeshare websites to buy the property from the resale market. When deal seems to be too good to be true is because it probably is. These days it is very probable to buy a timeshare in a beautiful destination for a very low price.
What the prospective buyer has to keep in mind is that by buying a timeshare, he has to assume the responsibility to pay the annual fees that are charged every year by the resort. Those fees do not stay fixed; in fact, they keep on rising each year. Also, the timeshare can be only used in a specific week of the year (usually in low seasons) and you cannot trade the location unless an upgrade is paid. Buying a timeshare is not an inversion, not even from the resale market. A timeshare is nothing but an expensive purchase that brings forth lots of problems and expenses.
The true facts
No matter if a timeshare is acquired directly from the company or in the resale market. Timeshare sales are never good news. While timeshare companies are only trying to sell their units without thinking on the consumer’s rights, the desperate owners are hoping to find someone that releases them from the annual fees.
In you are stuck in a situation where you don’t know how to get rid of your timeshare, in Mexican Timeshare Solutions we offer you a free consultation on your timeshare matter, and we do not charge any fees until your contract is properly cancelled. Contact MTS today for a free advice and release yourself from your timeshare issues.
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To know more about Timeshares visit: Timeshare Rip Off! Timeshare Scams on the Rise