Timeshare out - Reality
Timeshares are not the financial investments consumers thought with it was. Timeshare resorts Such as Wyndham, Marriot, Disney, Royal Holiday or Mayan Palace are very successful at selling their timeshare products, timeshare consumers haven´t been as lucky.
With the economy as it is today, consumers owning a timeshare out of their city are struggling to pay not just maintenance fees climbing yearly up to $800 yearly, they also have to pay transportation to their timeshare destination.
Timeshare out- a frequent story
Leticia Welsh is one of the many Americans with difficulties trying to keep up with monthly expenses and decided to put an end to her dreams of traveling to exotic destinations using her timeshare. She made an attempt to sell her timeshare for six month just to run across doubtful timeshare brokers. Welsh spend almost $2,000 Dollars trying to recover the cost of her timeshare. She wasn´t successful.
Finding buyers in the timeshare secondary market is rare. Experts in this area say people wanting out of their timeshares are lucky to sell them for 5% of the original value. Timeshares are commonly offered at auction sites like EBay starting at a cent.
An issue timeshare buyers like Leticia face is the misbelieve that timeshares are a piece of real estate that increase in value over time. Sales people elaborate on this idea at the point of sale.
Timeshare out - who they target
With a new wave of Americans looking forward to retire and travel, the sales of timeshares in America have almost double in the last five years despite of the economy. About 2% of households in America own a timeshare says the American Resort Development Association.
1.4 million people own timeshares in Europe. the annual sales reach over 1.5 billion, expressed by the Organization of Timeshare in Europe.
I do not want my timeshare
Some timeshare consumers are looking just to unload their timeshares by giving them away in an effort to eliminate the annual maintenance fees. Some timeshares end in a period of time, usually 30 years, while others end only when the financial responsibility is handed over to a new owner.
"Once you signed, you signed a contract for perpetuity. If you die, it goes to your heirs. they got to pay for it, there is no exit policy. I found it was easier to divorce my ex-husband than get this timeshare out of my hands" says Welsh
New ways to swindle timeshare consumers
The yearly increasing maintenance fees, special assessments and the new restrictions using a timeshare have placed more timeshare properties into the resale market.
Timeshare sites like RedWeek or TUG have dedicated articles preventing timeshare fraud. The desperation of selling a timeshare has open the door to con artist looking to sell the dream for big money in the depressed resale market.
This fraud is increasing fast. The typical scheme involves a cold call from a timeshare broker claiming to have a buyer willing to pay big bucks. People are entice to get money and the timeshare out of their monthly expenses. The con man asks for upfront fees to complete the transaction, if they hear again from him is only to request for more money.
The timeshare industry is compared to the resale market of the use-car market of the sixties where fast talking sale people would scam innocent families.
What solution is available
The first option MTS recommends to timeshare owners is to contact the timeshare developer with the hopes the resort will take the timeshare back. Unfortunately, resorts are in the business of selling timeshares and collecting maintenance fees, therefore, it is highly unlikeable they will accept it.
A second option is to try and donate the timeshare. most times, charities don´t accept timeshares since they already know it is hard to sell them or use them. Many timeshare donation companies are scams and therefore you need to be careful.
A third option is to find a reputable broker and by this I mean that you work DO NOT PAY ANY UPFRONT FEES to sell it. Explain the broker that he will have his commission after you receive the proceedings from the resale of your timeshare. If he is not willing to do so, hang up the phone.
Four, Cancel your timeshare. This is the solutions that will eliminate any future problem once and for all. Unfortunately, some timeshare cancellation companies are also a scam request upfront fees to get the contract cancelled. Walk away from any timeshare cancellation company who charges an upfront fee even if they have a money back guarantee.
Mexican Timeshare Solutions is the only timeshare cancellation company that can get rid your timeshare of your life in three easy steps. And best of all, you don´t pay for any fees until your timeshare has been cancelled and you are satisfied with the service provided.
Contact Mexican Timeshare Solutions today for a free consultation on how we can terminate your timeshare in no time.
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