The timeshare when you purchased it may have seemed like a good idea. Understand, timeshares in most circumstances are the worst investment you can actually make. Unfortunately, these companies that sell and market timeshares are highly skilled in the sales process. They are in fact some of the most profitable companies in the world. The founder of one company here in Orlando Florida, his wife was featured on a worldwide documentary calling her the “Queen of versailles”, building the largest house in the world.
These timeshare companies spend nearly 50% of their income on marketing, this is giving incentives away from free dinners to park tickets to induce consumers to attend their presentations while on vacation. Well guess what, this is an unfair advantage, who on vacation doesn’t want the promise of more and continued dream vacations. This lowers everyone’s buying defenses.
Unfortunately, what takes place from there is we end up participating in a very high-pressure sales presentation that sometimes lasts over three hours. A sales presentation convincing us of what a great deal this is and that we have to have this. More times than not we are sold something we cannot even afford, however they don’t encourage you to factor in all the traveling costs an additional costs associated with purchasing the timeshare, paying the mortgage on the timeshare, and paying the maintenance fees each year on the timeshare. Which by the way increase at an average rate of 8% a year.
What the timeshare sales representatives also do not adequately convey is also that this is a contract in perpetuity. So what is a contract in perpetuity? Well it is a contract that lasts for your lifetime and beyond. Once you pass it goes to your estate and your heirs, whether they want it or not. They now become the owners of the ever increasing maintenance fees associated with this timeshare. What people don’t realize is the maintenance fees are a completely separate profit generating business for the timeshare developers.
If you find yourself in a financial hardship and need a way to get out of your timeshare book a free no obligation consultation and I will see what solutions we may be able to find for your situation.