8 Reasons to Reconsider a Timeshare

Hello friends!  I’ve compiled a list of 8 reasons to be cautious when thinking about purchasing a timeshare.  None of these pitfalls are new, but they seem to be just as true today as they have ever been.  Unfortunately, we continue to hear these same complaints from our customers on a daily basis, but hopefully, a few of you will read this blog and take a moment to evaluate your options.

Timeshares are NOT an Investment

As expressed time and time again, timeshares are a liability, and their financial value depreciates over any given period of time.  This means that the instant you purchase a timeshare, the value plummets, along with the resale value.

Maintenance Fees

Fees that were promised to remain low during the initial sales pitch can begin to spiral out of control rather quickly.  Along with general maintenance fees that will surely rise, there are other fees to keep in mind, such as special assessments, taxes, membership fees, and exchange-transaction fees.  The owner must pay these fees whether they use their timeshare or not.

Travel Expenses 

Another item that is often overlooked by overzealous timeshare purchasers is the question of travel.  Sure, it might seem like an affordable vacation locale if one can account for the annual taxes and fees, but people often forget how expensive it is to travel to certain destinations.  As anyone with a timeshare can tell you, airfare is not cheap and neither is fuel.

The Timeshare Industry is Complicated

The timeshare industry is extremely complicated, and entering into a contract should not be taken lightly.  Resort developments are counting on their prey to not do their homework, thus making them easier to sell.  If one isn’t well versed in the language of timeshares (e.g. fixed-week, point based systems, leased timeshares), it becomes even easier to fall victim to manipulation and predatory sales tactics.

You’ll Likely Never Break Even

Timeshares seem cheap at the initial time of purchase, but when compared with the cost of practical hotels over the lifetime of the contract, it’s likely that you’ll never reach a break-even point.

Little Vacation Flexibility

Trading your time for a unit in a new vacation location is not as easy as a timeshare salesperson would have you believe.  It could nearly a year’s worth of advanced planning, and trading costs can add up quickly.  Further, there’s no guarantee that you’ll be able to get your desired location during your desired time.

Timeshare Prices are Negotiable

Even more than regular real estate or the local farmer’s market, the sticker price on a timeshare is highly negotiable.  The salesperson doesn’t expect you to pay the initial price tag on the timeshare, and they are willing to come down on it.  However, since timeshare salespersons expect to negotiate, there is a high mark up on the original price of the property.

Timeshares are Nearly Impossible to Get Rid Of 

A timeshare is a liability, not an asset.  Therefore, the value will only depreciate over time, which makes the resale market virtually non-existent.  There are many listing agencies and exchange companies who will make empty promises about the value of your property and the abundance of buyers lining up to purchase it, only to cash a large check without providing adequate service.  The bottom line is that it is nearly impossible to sell a timeshare.  The market has decreased significantly and shows no signs of rebounding.

This list is by no means exhaustive, but it should be a starting point for anyone interested in taking an honest look at what timeshare ownership really involves.  Timeshare ownership can be a wonderful experience for many families, but it is important to do all the necessary research before signing on the dotted line.  If you or someone you know is locked into a timeshare contract and looking for an exit solution, please contact Newton Group Transfers at (877) 354-4321.

Avoid Timeshare Resale Companies!

Timeshares are a tricky thing. At first, they seem like such a great purchase. Who wouldn’t want to reserve a few weeks at a vacation condo by splitting the cost with hundreds of other buyers?

Unfortunately, like most things in life, there’s a catch. When you consider the hefty initial payment, consistently rising maintenance fees, and special assessments that blindside owners, timeshare ownership far exceeds the cost of conventional vacations. These fees are so outlandish due, in large part, to the fact that the resort’s marketing campaigns are responsible for nearly 50% of the final timeshare price. These wildly aggressive strategies lead to a huge mark-up in your costs.

On top of the costs associated with owning a timeshare, it’s important to remember that they can also be extremely expensive to sell. Most resale agencies require a significant upfront sum to list your property, and they continue to charge monthly fees until your timeshare sells. Overall, listing your timeshare will cost you thousands, and they rarely sell, even after your financial commitment.

Of course, timeshares rarely sell due to a number of factors, not the least of which is that the reseller has little motivation to do so as long as their clients continue to line their pockets. Coupled with the fact that a large number of these companies are nothing more than fronts for scam artists, timeshare resale companies simply aren’t the way to go. Usually, people only turn to them when they’re desperate to dispose of their contract, only to lose hundreds, if not thousands, more in the process. In fact, according to The South Florida Sun-Sentinel, complaints about timeshare resale companies doubled in 2009 to become the most frequent complaint reported to the state’s Attorney General.

These fraudulent companies do an excellent job of disguising their true nature, so here are a few suggestions to help you determine the soundness of the company:

·         Verify the business’ physical address: This is a surefire way to determine the validity of the business.

·         Do your research: A simple way to ascertain the legitimacy of the company in question is to contact the Better Business Bureau and the state Attorney general.

·         Look for the guarantee: If the reseller doesn’t offer a full and guaranteed money-back refund of your money if you aren’t satisfied with their service, DO NOT COMMIT to anything in writing!!

Considering the many drawbacks of listing agencies and the fact that many of them are illegitimate, I strongly urge you not to enlist their help. The surest way to avoid being scammed by a resale company is to not seek out their assistance in the first place. But there is an expedient, affordable, and sensible way to end your timeshare ownership.

The best option for timeshare owners who are looking to dispose of their timeshare contract is to enlist the help of Newton Group Transfers for a guaranteed exit from your timeshare. Unlike resellers, we offer the following features to keep you confident and informed throughout the process:

• ·         All pertinent information is documented in writing.

• ·         An immaculate track record that can be referenced and verified via the BetterBusiness Bureau.

• ·         A swift transfer of your timeshare property with a nominal, one-time fee.

• ·         Every detail of the terms and conditions of the service offered.

• ·         100%money-back guarantee to successfully complete your transfer in a timely fashion.

We urge you to be diligent in your search for an efficient and expedient timeshare exit solution. We realize that most timeshare owners have dealt with less that reputable individuals and organizations in the past, and we understand the hesitation to move forward with an exit solution that requests an upfront fee. However, the bullets above speak volumes about our credibility and our honest commitment to our customers. We have our client’s best interests in mind, and we will work tirelessly and honestly to remove you from your timeshare obligation. So please contact us today at 1-877-354-4321 or visit us online at www.newtongrouptransfers.com to liberate yourself from your timeshare contract.