• February
    20
    2019
  • 3 min read

Timeshare Secrets Your Sales Rep Is Keeping

timeshare secrets

Free Consultation

We’re telling timeshare secrets to protect consumers.

Some secrets are fun, but timeshare secrets can be very dangerous. Sales reps may not tell you the whole story when they’re trying to make a sale. But at Primo Management Group, we believe in transparency. Here are some top timeshare secrets that get buyers in trouble.

You Can Cancel Your Contract (if you act fast)

It turns out that timeshare cancellation can be as simple as sending a letter. That’s one of the key timeshare secrets sales reps are keeping to themselves. When you sign a timeshare contract, you can cancel that timeshare within a set time period. No questions asked. This is called the right of rescission, which gives both parties a cooling off period to reconsider. The length of the rescission period varies by state but is usually 7-10 days. Check out yours here.

You Can Get a Much Lower Prices On the Resale Market

In 2017, the consumers paid an average of $22,180 for timeshares direct from the contractor. However, the resale market offers much, much lower prices. A quick internet search will reveal countless units on the resale market for only a fraction of what developers are charing. While you’ll still be on the hook for maintenance fees and special assessments, your initial buy-in could be much, much less. And because the resale market tends to favor buyers, you may find sellers offering incentives such as seller-paid closing costs. You should definitely not buy from the developer without doing your resale research.

Contractor Funding is Expensive

If you don’t happen to have $22,180 handy, you can finance your timeshare. But you don’t have to take the funding the contractor offers. In fact, contractor funding has a higher interest rate than a personal loan. So it makes sense to shop around and see what you can find. While you’re at it, you may want to reconsider whether a timeshare makes sense for your financial future.

Reservations Aren’t Guaranteed

Points-based timeshares and vacation clubs give you the flexibility to stay in various resorts at various times. But they don’t give you any guarantees that anything will be available during the interval you want. While deeded timeshares have only as many owners as intervals, vacation clubs and points-based timeshares are different. Timeshare companies can sell any number of points and have any number of owners. So that means there may be more demand than supply. Making reservations is easier said than done. And what’s more, you may end up buying more points to stay where you want, when you want.

Did timeshare secrets take you by surprise? We can help you exit your timeshare. Contact us for a free no-risk consultation. And we don’t keep secrets.

(Image Source: Canva)

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