Many instances from the past, report of cases where people who were relaxing on vacation and presented with the idea of investing in a timeshare property. Next thing you know they turn into timeshare owners after a high pressure persuasive presentation. Blame it on the shifty salesperson or the allure of owning a vacation place in an exotic resort, timeshare comes with a significat amount of financial commitment.
To avoid surprises or timeshare cancellation situations, here are three important things that have to be acknowledged before signing the timeshare contract.
Visit the Resort in Person
The resort offering the timeshare must be checked for its facilities and other resources. If chance permits, talk to one of the already existing timeshare owners in the resort and enquire about their experience with the property, the maintenance services offered as well as if they is any resale value of the timeshare.
Compare Timeshare Cost with a Hotel Stay
Superficially hotel costs may seem much higher than a timeshare investment. But it is important to take into account the other expenses like maintenance fees, mortgage payments, taxes and brokerage commission to make a fair comparison of both costs.
Review the Timeshare Documents Thoroughly
Documents related to the timeshare such as the purchase contract and the public offering statement must be reviewed with the hell of a timeshare attorney. Verify if all oral promises made by the salesperson have been drafted into writing. The duration of the rescission period must be mentioned in the contract. Read the contract thoroughly