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Timeshare School: Timeshare Ownership Lessons

Timeshare School Is In Session: Key Timeshare Ownership Lessons

August 21, 2018 – by Primo Management Group

Timeshare School Is In Session: Key Timeshare Ownership Lessons

An educated consumer is a better consumer. Get an “A” in timeshare ownership with our handy guide.

Before school starts, it’s always good to review (everything). Since timeshares are such a complex subject, consumers like you have even more homework than ever. Whether you’re considering timeshare ownership, looking to maximize your timeshare experience or want to get out of your timeshare contract, you’ve come to the right place.

Buying a Timeshare

Sales presentations are the entry point to timeshare ownership for many consumers. However, these presentations are known for their high-pressure tactics and misleading pitches. Before you attend a sales presentation, consider these tips:

Maintenance Fees & Special Assessments

Don’t be fooled into thinking that once your timeshare is paid off that you’re just getting a “free” vacation house. Timeshare ownership comes with constant maintenance fees. These fees cover the general upkeep and maintenance of the property and the resort. In 2017, the average annual maintenance fees were $980. Fees tend to increase over time and are your responsibility whether you use your property that year or not.

Sometimes a resort or HOA may levy a special assessment for its timeshare owners. Such assessments are typically a result of damage or a natural disaster. These special assessments can be very costly and are also unpredictable. But you still have to pay them.

Keep these lessons in mind:

Selling Your Timeshare

If you’ve outgrown timeshare ownership, you may consider selling your timeshare. Many people find that over time, timeshares no longer fit into their lives or budget. Whether this is because of health issues or changing financial circumstances, selling your timeshare can be an option. However, it’s not likely to be a money-maker for you. In fact, most timeshares sell at prices well below what the owner initially paid. Timeshares are notoriously sold on eBay for $1. And for good reason. A timeshare is not a financial investment. In fact, when you consider maintenance fees and special assessments, many consider their timeshares to be obligations.

If you decide to sell, don’t forget these key lessons:

Timeshare Cancellation

If you are ready to end your timeshare ownership and are unable to sell, timeshare cancellation may be your best choice. Timeshare cancellation is the process of getting out of your contract. Unfortunately, your resort doesn’t want to let you go. But a timeshare cancellation partner may be able to help you.

When looking for a partner, seek the following:

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Frequently Asked Questions ?

How does PMG get me out of my timeshare contract?

PMG is not a resale, transfer, or donation company. We are consumer advocates—we help to negotiate the release of your timeshare contract obligation. We do not buy, sell, or rent your timeshare. Simply put, we help you to get out of your timeshare contract forever.

How long does the process usually take?

Usually less than 12 months, but it all depends on your situation. If your timeshare is free and clear with no mortgage, then the process may only take 3-9 months.

Speak to your advisor about the time, and what delays the resorts have put into place to prevent timeshare owners from departing their ownership. If you have a mortgage or past due maintenance fee, the process takes more time.

How much is my timeshare worth?

This is probably going to hurt, but whether you paid $5,000 or $50,000 for your timeshare, the IRS values all timeshares as worthless investments. In addition, that timeshare would have negative value due to the annual maintenance fee bill which compounds year after year. That is until PMG helps you cancel your timeshare.

Can I use your service if I still have a balance owed on my mortgage?

Yes. Whether you bought your timeshare 20 days ago or 20 years ago, PMG has a solution for you and is here to help.

Will my name be off the timeshare?

Yes! Permanently! GUARANTEED!

In addition to getting me out of my timeshare, can you recover the money I’ve already spent on mortgage payments and maintenance fees?

While we are able to recover money in rare cases, beware of any timeshare cancellation company that entices you with the promise of fund recovery. The truth is, timeshares are loath to give back the money they’ve already taken.

Are your consumer advocates really “consumer advocates”, or is that just a fancy word for salesperson?

Because most of our clients have had their trust betrayed by timeshare salespeople, we understand how some consumers can become a bit jaded. When you call us for a consultation, that’s exactly what you get, a consultation. At PMG, our job is not to sell you; our job is to help you get out of your timeshare. Which is why we have numerous 5-star reviews and an “A” (excellent) rating from the BCA.

Why should I choose PMG to get me out of my timeshare?

We pride ourselves on providing our customers with the best customer service in the industry. When you contact our company, you speak to a live person, not an automated system or voicemail. We go above and beyond for our customers by helping you to protect your credit and even repair your credit if needed. We offer a 100% money back guarantee, and we can provide documented proof of our success in helping customers just like you.

What happens after I sign up with you? Will I be apprised of your progress?

At PMG, we pride ourselves on our hands-on, boutique-style customer service, so every new client is assigned a case manager whose job is to keep you in the loop throughout the entire cancellation process. Your case manager is always just a phone call away.

How much is your fee?

Not all timeshare experiences are created equal. Some are more complicated than others, and every situation is different. That’s why our trained timeshare elimination consultants will ask you a series of questions designed to determine exactly what needs to be done to terminate your timeshare, how long it will take, and how they can best advocate for you. We will always seek the most cost-effective route for you.

What if I still have more questions?

Canceling a timeshare contract is not a cookie cutter process. With each situation being unique, once you complete the form below an experienced consumer advocate will call you today to discuss your options.