Timeshares are positioned as a fantastic way for those who can’t afford a vacation home to get access to a great property for a few weeks each year. Once you get past all of the fine print and marketing spin, you’ll find that real timeshares are a burdensome investment that is rarely worth the time or money that you’ll be required to spend. While there are certainly people who are able to deal with this kind of investment on their own, it’s very common for others to become stuck. Below are just a few examples of how you can get stuck with a timeshare.
Perhaps the most common reason that people get stuck in timeshares is because of marketing. Timeshares tend to be aggressively marketed towards people who can barely afford to buy into the units, usually through clever presentations and a great deal of misinformation. The presenters make it seem very easy to afford the properties when in reality many of the individuals who sign up would give the offers a second look if they knew the full price. Once you’ve signed up, though, it becomes incredibly clear that you’ll be paying more than the fractional cost that was initially laid out for you.
Even those who can theoretically afford timeshares get stuck because of changing life situations. A lost job, an illness, or even changing economic circumstances can make what once might have seemed like a reasonable investment into a nightmare. Remember, buying into a timeshare isn’t something that appreciates in value or that provides an investor with any kind of equity, so those who are saddled with these arrangements find themselves out a great deal of money with very little to show in return. It’s no wonder that so many consider signing up for timeshares to be among the worst decisions that you can make.
Unfortunately, it’s also very easy to get stuck even when you want to get out. Many people try to sell back their timeshares to the company that owns the product and are stonewalled in the process. They might even find themselves looking for information on what their investment is really worth, only to be met with silence. Timeshare companies make it their business to keep consumers in the dark, so even those who are willing to put in the effort to get out can find themselves stuck in the nightmare of timeshare ownership.
If are involved in any kind of timeshare scheme, the smartest thing you can do is to get out. Take a look at your contract and make sure to contact Resort Legal Team as soon as you can. While you’re almost certain to take a loss on your attempt to get out, the faster you move, the less painful the process will be. Timeshares are nightmares meant to prey on those who don’t know the ins and outs of this kind of product, so take the time to educate yourself and to work with professionals who can help you to avoid the fallout of timeshare investment.