Many timeshare owners are happy with their purchase. However, for the owners who regret their purchase, there are some timeshare nightmares.
In our business, we hear stories of timeshare nightmares every day.
Timeshare Presentation Nightmare
The high-pressure world of timeshare presentations is well-known and well-documented. However, timeshare reps know this, too. And so, they offer bigger and better incentives to lure prospective owners into their presentations. Once they’ve got you, beware! Consumers have shared many timeshare nightmares about these presentations.
Pete and Susie High of Auburn, CA attended a timeshare presentation in Puerto Vallarta. Lured in by the promise of a $450.00 award, the couple agreed to sit through a 90-minute presentation by Puerto Bahia Villas and Spa. Unfortunately for the couple, the presentation lasted way beyond the promised 90 minutes. The High’s finally escaped after eight hours as timeshare owners.
They stood strong through the first six hours of the “presentation,” maybe because the sales reps served the couple wine and beer. Although they didn’t want alcohol, the couple was thirsty from the 6-hour ordeal, so they drank their drinks. Shortly thereafter, they signed for their timeshare.
To add insult to injury, even after the couple canceled their timeshare within the rescission period, the resort continued to attempt to collect from them.
Timeshare Assessment Nightmare
In addition to annual timeshare maintenance fees, timeshare owners may find themselves on the hook for special assessment fees. Timeshare reps definitely don’t spend too much time on special assessments during their presentations. And that’s dangerous business for buyers.
Special assessments are fees above and beyond the usual maintenance fees to cover unique circumstances, damages, or upgrades. Unpredictable expenses are part and parcel of any real estate ownership. And like other types of fees associated with real estate, these fees are unpredictable and can get very expensive.
Owners at the Point at Poipu in Hawaii experienced a particularly extreme special assessment in response to a water intrusion. The special assessment was almost $3800. Naturally, the owners had difficulty paying this assessment and they banded together to launch a class action suit against the Diamond Resorts and eventually got relief. However, this episode clearly shows the dangers of timeshare ownership.
Timeshare Collections Nightmare
Bryant K. Creighton and Beth Ann Creighton of Wheeling found themselves in a tough spot with their Ocean Beach Club timeshare in West Virginia. After a successful timeshare exit, the timeshare company continued to report debt and seek collection of the false debt.
The couple now seeks damages for breach of contract, breach of duty, and breach of warranty. In addition to pain and anguish, they experienced a loss of credit because of their experience. Credit problems are one of the main timeshare nightmares facing owners.
This story shows how unscrupulous these companies can be. That’s why it’s so important to be careful in all dealings with timeshare companies from start to finish. If you need help with a timeshare exit, we can help. That’s what we do… specialize in helping people exit their timeshares safely, ethically, and forever. Contact us for a free consultation today.