By Lauren McGee | Social Media Strategist
Timeshares are not a scam, but some common misconceptions make people believe they are. When exit companies or timeshare cancellation lawyers confront this topic, you’ll hear every reason why you may have been “scammed.” However, many timeshare owners are very satisfied with their purchases.
If you’re thinking financially, then no, timeshares are not a good investment. Any industry professional will never tell you that you can make money off your timeshare. In reality, a timeshare will not go up in value. Timeshares do help people and families save thousands on vacations for a lifetime.
It’s helpful for most owners to think of their timeshare maintenance fees as their HOA. Your timeshare doesn’t stay beautiful without some help. Resorts need regular maintenance to stay up-to-date, stay clean, and pay employees.
No, the timeshare resale market is not a scam. There is a legitimate (and thriving) timeshare resale market, and we can prove it. Our resale marketplace is perfect for owners looking to add on to their initial ownership or start their timeshare journey for less. Plus, we help owners sell their timeshares every single day!
Getting out of a timeshare can take some time, but it’s not impossible. Most resort developers provide owners with easier options than ever. Owners are not stuck in their contracts. The reality is you can’t simply “cancel” your timeshare contract. Exit companies or timeshare cancellation lawyers might tell you otherwise, but this is false.
The most notorious timeshare scams normally take place on the resale market. Top developers follow strict guidelines and laws put in place to protect potential buyers or their owners.
1. High upfront fees to sell or “cancel” your timeshare.
You should never pay thousands of dollars up-front to get out of your ownership. There are resources available for owners that need timeshare relief.
2. Out of the blue phone calls from someone that says they have a “buyer waiting” and need a wire fund.
It is illegal for a timeshare company to call you without your permission. A legitimate timeshare reseller will never call you out of the blue.
3. Guarantees to exit your ownership.
In reality, third-party companies cannot make promises to exit or sell your ownership. A legitimate resale company cannot guarantee that it will sell.
4. Never stop paying your timeshare fees.
Our Licensed Real Estate Brokerage has over 20 years of experience in timeshare resales. As a member of ARDA, we strive to provide the best customer service guidance for timeshare buyers, sellers, and owners.