Timeshare news is an important part of keeping up with the industry. Whether you’re looking to buy a timeshare or sell yours, it’s vital to keep up with the latest developments.
The most recent news is the rise of resale exchange websites, which enable owners to trade their timeshare for cash instead of paying fees to sell it. These sites have made it easier for owners to find a buyer and can save them a lot of money in the process.
It’s also a good idea to watch for companies that are offering to help you cancel or legally challenge your timeshare contract. They’re often shady businesses that are trying to extract as much money from you as possible without giving you much of a chance to dispute the charges.
These are just a few of the many pitfalls to be aware of when you’re considering buying a timeshare. These can make or break your decision to buy, and you should take them seriously.
Consumer Advocates and Attorneys: The best source of advice is from consumer advocates who are knowledgeable about the timeshare industry. These include the Timeshare Crusader, Redweek and Timeshare Users Group, which all have large user communities devoted to sharing information about timeshares from various developers.
Another resource is the website of the Timeshare Exit Team, a group of timeshare attorneys and consumers that have been working to find a way for people to get out of their unwanted timeshares. They’ve written open letters to major developers urging them to find a way to help frustrated owners who want to legally cancel their contracts.
They’ve also written open letters to ARDA, asking the industry organization to find a way to help these owners exit their contracts. Unfortunately, neither of their letters received a response from the ARDA leadership.
Away From the Resort: Buying a timeshare is a big commitment and can be hard to get out of. The timeshare company can offer an exit plan, but it’s rarely easy or straightforward.
You’ll have to pay annual dues to maintain your timeshare. These can be high and may go up over time if your resort needs expensive repairs or upgrades. This can cause the quality of your resort to decline and your vacations to be less affordable.
It’s crucial to research the timeshare before you sign a contract. Then, once you have signed, make sure you read the fine print carefully.
If you haven’t done this already, it’s a great idea to read a book on timeshares before you buy one. This will give you the knowledge you need to make a wise investment and stay protected from scams.
In the meantime, it’s always a good idea to consult consumer-friendly sources like the Timeshare Users Group before you sign any contracts. These groups, along with online forums and Facebook groups whose members own timeshares from the same developer, are valuable resources to help you make the right decision about your vacation plans.