Timeshare industry has always given much to talk, the truth is that some people love it, some people hate it, and the reality is that the sales are still on the rise. What is it about timeshare ownership that causes an incredibly controversy? Read this article to know how a timeshare sales agreement work, and why so many people want to get rid of them.
In order to get a sale done, timeshare salespeople tell the prospect buyers that they’re making a great investment by getting a fractional ownership, but, is timeshare a good investment? The truth is that it is not even an investment, in fact, it should only be considered as a purchase, being that it doesn’t have any possibility of financial growth.
It is also important to highlight, that timeshare purchases have also been considered by many financial experts, as one of the worst purchases you could ever make. They are way too expensive, and even if the unit is paid in full, the owner is still attached to the monthly payments, such as maintenance and membership fees.
Timeshare sales agreement
A timeshare sales agreement is the contract that you get at the moment you purchase a fractional ownership. Most timeshare companies make them long and difficult to understand, so the buyer doesn’t know well what he is getting into, and the terms and conditions are especially made to benefit the resort, but not the owner.
The timeshare sales agreement gives you the right to use the resort, during a certain number of years, for a specific number of weeks. That means that the developer still owns the resort, so your interest would not be considered as real estate. Also, it is very likely that most of the verbal promises told during the presentation are not in the contract, and many of the agreements have no cancellation policy.
Reasons to get rid of the sales agreement
There are many reasons to get rid of a timeshare sales agreement; however, these are the most important:
- The timeshare maintenance fees increase considerably each year
- The chances to resale the timeshare are almost non existent
- The timeshare was sold under deceptive sales tactics
- You will not be able to use it
- There are no possibilities to rent the timeshare
The best solution to get rid of a timeshare sales agreement is by cancelling the contract. Timeshare cancellation offers you the opportunity to cut the strings attached to the resort in a secure and efficient way.
At Mexican Timeshare Solutions, we assist timeshare purchasers who have become victims of a timeshare scam. Contact MTS today for a free consultation to discuss the possibility to cancel your timeshare, with no fees upfront.
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