If you’re reading this, it’s likely that you already own a timeshare and you’re looking at how to get out of it. Here at Wesley Financial Group, we can help you with your timeshare cancellation. However, if you’re considering investing in a timeshare today, we’ve got a few things you need to keep in mind before investing in such a high-risk investment.
- Never pay full price! Like almost every other real estate transaction, prices are usually negotiable and this holds true for timeshares. While most aggressive timeshare salesmen will tell you that you can save over $25,000 on accommodations as a family of four by staying in a timeshare rather than a hotel, you should remember that you have a lot of options when it comes to vacations.
- Know exactly what you’re paying for. While some companies will offer you perks like paying closing incentives, these perks don’t normally recoup the money you’d save if you buy a timeshare directly from an existing offer rather than a resale company. You should also know what type of real estate interest you’re going to be owning when you purchase your timeshare. There’s a big difference in buying a timeshare estate and buying a timeshare license or membership. Know the differences before you buy!
- Concerning timeshare contracts, know specific state’s right of refusal. Since there have been so many documented cases of abuse on timeshare sales and resales, there’s now a lot of opt-out clauses for consumers. Make sure you know your rights depending on what state you’re buying your timeshare in.