Timeshare Cancellation

The timeshare industry has historically been plagued by developers who use high-pressure and deceptive sales tactics to close a timeshare sale. Using false and misleading statements about buyers could expect from their timeshare ownership, the industry has a tarnished reputation—which over the years has grown ever worse.

Most timeshare owners say that they had purchased in a moment of weakness.

Because a timeshare is a lifetime obligation to pay dues and maintenance fees, it is a liability, not an asset, and one which many people come to find they no longer want or can afford. Hard-sell tactics are a key reason owner’s end up buying a timeshare they can’t use over the long run.

Discipline and advance planning are a must in the timeshare world. Year after year, timeshare owners have found it difficult getting the week they want. You have to call a year in advance to reserve a week, and if you wait two days later, those weeks are gone. More times than not, the large developers hold on to 30% of the inventory to book for prospective owners, and frequently when the actual timeshare owners call the resort and request additional rooms, they are denied—not because the resort is fully booked, but because the rooms are being held for expected clients the developers have marketed to.

“Most of the unhappy owners are people who own a timeshare in a ‘legacy resort,’ or an older, single-site property not affiliated with a large club”, said Howard Nusbaum, the former CEO of the American Resort Development Association (ARDA), an industry trade group.

ARDA says maintenance fees have grown an average of 12% a year since 2005. Most people don’t use their resorts every year and end up paying for something they are not using. Even if you die, your kids will have to pay.

The truth is timeshares are not an appreciating asset and there is no ready market for a used timeshare. A simple search on eBay can verify the truth of this statement. Enter the search term “timeshare”, and hundreds of supposedly valuable timeshares will appear for as little as $1, with the seller agreeing to pay all the closing costs. Almost half of the timeshares selling on eBay have starting bids of $1 or less, with some of them even going for a penny. There’s a SURPLUS of timeshares for sale. No one wakes up in the morning and says they are going to buy a timeshare; it’s an emotional buy.

Faced with the prospect of ever increasing dues and maintenance fees, and desperate to get rid of their so-called “ vacation of a lifetime”, many timeshare owners have turned to the timeshare resale market in an effort to be relieved of these obligations. Into this vacuum of desperate owners wanting to sell jumped the timeshare resale scammers. Armed with false promises of ready buyers, fast sales, big profits, and money-back guarantees, fly-by-night scammers proliferated.

Given these challenges, if you want to get rid of your timeshare, you need to find an honest, reputable company that can help you every step of the way.

Timeshare Information Center is that company. Contact us to learn more about how we can help you shed your unwanted timeshare.