Timeshare Reservations: Not So Easy
Buying a Timeshare, Guides, Tips, and Hacks
3 min read
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.
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.
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.
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.
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.
How to choose the right company to get me out of my timeshare
We know how stressful timeshare contracts can be. What once sounded like a dream resort package turned into a nightmare. When you don't know where to turn, look to PMG to relieve you of your timeshare burden. We pride ourselves on open, honest, and frequent communication with our clients.
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Still not sure what's the next step? Our dedicated team can review your agreement and guide you through the process. The Primo difference is all about service. Our timeshare elimination consultants have one mission: To serve our clients and bring the peace of mind that comes from relieving their timeshare obligation.Get Started
The timeshare industry has spent a tremendous amount of time and money to delay, confuse and deter you from canceling your timeshare contract. Your team of timeshare elimination experts act as your consumer advocate and will work tirelessly to free you from your timeshare contract, mortgage, and maintenance fee bill.Give it a try