Buying a timeshare often seems like the best idea in the world, especially when you’re sitting through a presentation, eating the often delicious catering the marketers bring in for the occasion. However, buying a timeshare is a tricky thing. You’re promised the world during the presentation, but the actual product comes with so many stipulations, you may find that you feel like you’ve been cheated. At Wesley Financial, we can help you get out of that timeshare agreement with our timeshare cancellation service. However, should you still be interested in that timeshare in Hawaii, be sure that you know exactly what you’re buying before you put any money down.
There are Conditions
Each timeshare comes with its own set of conditions and usage restrictions. Even if you own the timeshare, you’ll have limited access to the property, determined by conditions of your contract. When you make the purchase, you’ll only be allowed to use the property during your designated time. Should you wish to use the property at another time, you’ll have to make arrangements with the other people on the timeshare. If they’re unwilling to change their use time, you’ll have to find other lodging arrangements, all while continuing to pay for your timeshare, even if you don’t use it.
Do You Have a Deed?
If you purchase a timeshare that grants you a deed of ownership, you have full rights over the deed. You’ll be able to sell, rent, or let your heirs inherit the timeshare. However, not all timeshares grant you these rights. Some come with nothing more than a membership or a timeshare license that functions like a contract. You don’t own the timeshare outright. Instead, you’re given the right to use the timeshare for the duration of the contract. The contract duration will vary from resort to resort, and may have additional restrictions attached to the agreement that might not be communicated before you buy. Furthermore, if you purchase a timeshare located outside the US, your agreement may not be protected by US laws. Should a problem arise, your stateside attorney may not be able to help you retain your rights to the property.
Is It Finished?
If you’re going to buy a timeshare, it’s best to buy one at a resort that’s already built or one whose construction is almost finished. Timeshare resort construction is an often volatile industry, and many buildings do not get finished, for one reason or another. If you do wish to purchase a timeshare that is under construction, you’ll want to be sure that your funds are placed in an escrow account. This will give you the right to reclaim your money should the timeshare resort not be completed. Otherwise, you may find that you’re stuck with the contract and no place to spend your vacation.
If you’ve purchased a timeshare, but are looking for a way out of your contract, contact Wesley Financial today. We’ve helped hundreds of people escape the financial burden of timeshare ownership. Our experienced cancellation team can help you get out of your timeshare today!