Time Share Scams How they All Got Started

How All The Timeshare Scams Got Started

First let’s look at, what is a timeshare - A timeshare is a program in which a group of people shares use of a property by dividing the rights to use the property for specific time periods.  

Although the property is usually a residential project such as a condominium, developers have applied the time-sharing concept to other types of properties, such as houseboats, campgrounds, and recreational vehicle parks.  

Timeshare Intervals

The developer divides occupancy of each of the units into intervals. The developer then sells these intervals to buyers, so each owner of an interval receives the right to use a specific unit for a specific time period corresponding to the interval they purchased. Each timeshare owner then shares the usage of the property along the other owners.  

Through this shared usage, the owners have accommodations in the property, without carrying the financial and property management burdens associated with a conventional ownership.

Timeshare intervals are normally one week long, a few timeshare projects, however, use other ownership fractions, such as one-tenth or one-quarter ownership's.

  

Almost all timeshare projects are based on one-week intervals, the words “week” or “timeshare week” are used in the timesharing community to mean a one-week timeshare.   

In addition to the purchase price, timeshare owners also pay an annual fee for property upkeep and management. Most timeshare projects also reserve one or two one weeks usage of each unit for maintenance and repairs.

Many timeshare developers have used and still use high-pressure and deceptive sales tactics, with misleading and inaccurate portrayals of what buyers could expect from their timeshare ownership. This is why today there are some many timeshare cancellation.

Over the years, the timeshare industry has also had its share of unethical and dishonest resort developers and operators. Consequently, timesharing has a bad reputation and why there are so many stories about timeshare scams. It’s ture a lot of people buy timesharing but after they buy a lot of people send the developer a timeshare cancellation letter.    

Because of its bad reputation, developers have developed other names for timeshare projects, such as Vacation Ownership or Fractional Ownership.  

Types Of Timeshare

While all timeshare provide the owner, a right to occupy a given period of time. There are many differences in how this is done.

Fixed, Floating and Rotating

In the floating week timeshare, is the right to use a unit for a specified period. However, you must contact the resort to reserve a specific week during the float period.

In a fixed week system, occupancy is for the same week, and usually the every year.  As can be expected, some weeks are more popular than others; this is usually reflected in the price of the timeshare.

Since all other owners that share your float period can reserve any time during that period, if you delay making a reservation you might find that all of the units have already been reserved for the times that you wish to reserve.  

Then you may have to accept a week you may not want, or you may have to forego your usage for that year. Resorts set the policy as to how far in advance you can reserve a floating week. Many resorts require advance payment of maintenance fees to reserve a float week.

Some timeshares use a rotating week system. In this type, usage week changes from year to year on a fixed schedule.  

Deeded – Right-To-Use Timeshare

Another major difference is whether the timeshare is a deeded interest or a “right-to-use” arrangement. Most deeded programs divide ownership of each unit into specific week increments, the buyer, actually purchases a fractional ownership of the unit.  

In some cases, the deed may convey a specific fractional ownership interest corresponding to the ownership period without tying the ownership to a specific week.

In the right-to-use program, the buyer receive the right to use the unit for a specified number of years.  At the end of that period, the usage rights revert to the developer.

Both deeded and “right-to-use” properties can operate with either fixed or floating week programs. In a deeded floating program, the program documents will specify that the owner’s usage is a floating right that must be reserved, and that the owner does not receive any special preferences to reserve the unit and week that appears on their deed.

Some unscrupulous developers of un-deeded resorts have “oversold” the project; meaning they have sold more intervals to owners than the resort can provide. (This is most likely to occur at an un-deeded resort because the absence of deeds linking units sold to specific ownership interests makes it easier to oversell the resort.)  

When this happens, owners will find it very difficult to reserve a usage period.  Accordingly, if you are purchasing a week at an un-deeded floating time resort, you should determine whether you are adequately protected against overselling of the resort’s inventory.

As I said before, the timeshare industry is full of unethical and dishonest resort developers and operators. We get phone calls everyday from people who have fallen for some kind of timeshare scam pitch and now need help to get out from under the timeshare.

Even if your timeshare ownership is past your timeshare cancellation period, or years past your timeshare cancellation period we can help you.

If you own a timeshare and would like know how to cancel a timeshare, to learn more about a timeshare cancellation see our frequently asked questions or give us a call.

To find out more about timeshare cancellation log onto our website:

www.TimeshareCancelCenter.com

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www.TimeshareCancelCenter.com

5036 Dr. Phillips Blvd. #221 Orlando, Florida 2819-3310 USA

For A Free Timeshare Cancellation Consultation,

Call 24/7: 1-855-600-9053   

Danger - Timeshare Scams - But It All Sounded So Good

The concept of Timeshares came from Europe in the 1960s, and the first American program began in 1969.

Timeshares are basically one of two types; either one fee simple - a deeded property which can be left in a will to your heirs; or two a vacation membership with a "right to use" which has a limited term.

A timeshare is a unit of time, usually a week in a condominium-style facility at a resort, which may be purchased for an infinite or limited period of time.

Timeshare Ownership Products

Today, there are several types of timeshare programs from which to choose, enabling you to purchase the type of vacation ownership that best matches their needs and lifestyle.

Timesharing is a term which describes a method of use and ownership. It denotes exclusive use of accommodations for a particular number of days each year. Usually sold by the week.

Legal Forms

The purchase of a timeshare can take many legal forms. Under a fixed-unit, fixed-week deeded, the purchaser receives a deed allowing the use of a specific condominium at a particular time every year.  

Under a right-to-use plan, ownership of the resort remains with the developer. The purchaser reserves the right-to-use one or more resort accommodations for a specified number of years, ranging generally from 10, 20, 30, 40 and sometimes up to 50 years, after which all rights return to the developer.

Club Memberships

These type of plans come in a variety of forms, they are most commonly known as a club memberships.

Vacation intervals are sold as either fixed or floating time. With fixed time, the unit, or unit type, is purchased for a specific week during the year.

That week is reserved for the same owner every year, subject to cancellation if the vacation owner does not plan to use it in a given year.

Floating time is the use of vacation accommodations usually within a certain time or season of the year. The purchaser may also receive a deed under a floating arrangement.

Within floating time, the price differences are based on the demand within each season. The owner must reserve the desired vacation time in advance, with a reservation confirmation typically provided on a first-come, first-served basis.

Then there is the vacation clubs or point-based timeshare programs which provide the use of accommodations in multiple resort locations.

With these timeshare products, club members purchase points which represent either a travel and use membership, or a deeded real estate product.

These timeshare points are then used much like money to access the deferent size accommodations, season, and number of days at the participating resort.

Fractional Ownership

That brings us to what’s called fractional ownership which enables the buyers to purchase a large share of fractional ownership usually from 3 to 26 weeks. This type of ownership is very popular in beach, ski, and island resort areas around the world.

It all sounds so great but not so fast, if it’s all so great, the question must be asked, why are there some many timeshare cancellation in the timeshare today’s market place?

The answer is because for the most part, the way timesharing is sold. If we were to list the ways that the timeshare resorts are training and retraining their salespeople to scam you that would be a very long list because the ways goes on, on, and on!

If you have become part of this big timeshare scams list by buying a timeshare you now know what I’m talking about.

We have valuable FREE information that will help you discover how to cancel timeshare contract – yes, you can permanently cancel your timeshare payments, all maintenance fees and your entire timeshare contract.

If you own a timeshare and would like know how to cancel a timeshare, to learn more about a timeshare cancellation see our frequently asked questions or give us a call.

To find out more about timeshare cancellation log onto our website:

www.TimeshareCancelCenter.com

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www.TimeshareCancelCenter.com
5036 Dr. Phillips Blvd. #221 Orlando, Florida 2819-3310 USA

For A Free Consultation, Call 24/7: 1-855-600-9053   

Investing in a Timeshare? Financial Risks and Warnings

Financial Risks And Warning For Investing In A Timeshare

If you own a timeshare or are thinking about purchasing a timeshare here’s news you can use. A leading news story reported that they spoke to timeshare owners, financial advisers, and industry representatives to help you identify the costs, benefits, and drawbacks of owning a timeshare.

Timeshare Ownership Pros And Cons

Pro: Save on travel expenses. Timeshares come equipped with a full kitchen and laundry facilities. And can save you money by cutting out extra expenses, like paying for a coin-operated washer-dryer. Access to a full kitchen also enables timeshare owners to stay in more often to make home-cooked meals.

Con: Timeshares can be very difficult to resell if not impossible to resell. It’s also important to know what kind of real estate interest you actually own when you purchase a timeshare.

In about 95% of timeshare sales in the U.S. you’ll actually get a deed to a property, called a “timeshare estate” under state law, which often means you can rent the share out, sell it or exchange it, and pass it on to your heirs.

What They Tell You

The timeshare sales people tell the buyers that timeshare is like any other deed in real estate you can hold it in perpetuity, though you have to pay the maintenance fees each year, just like property taxes.

And they also tell the buyers that the buyers can sell the timeshare anytime they want too. What they don’t tell the buyers is like I said before timeshares can be very difficult to resell if not impossible to resell.

Con: Timeshares outside the U.S., such as in Mexico, are known as “timeshare licenses” or “memberships” which typically only give you a right-to-use for only as long as the contract permits and can have many other restrictions. One important fact is that, if you sign a contract outside the U.S. for a timeshare in another country, you will not be protected by U.S. laws and it is also very difficult to do a timeshare cancellation.  

Timeshare Scams And Fraud

Con: There is also a substantial amount of timeshare scams and fraud in the selling and reselling timeshare industry. Scammers prey on timeshare owners, promising to resell their timeshare for an upfront fee. So you pay the several hundred dollars upfront and never hear from them again.

Con: With traditional timeshares, not only do many buyers get involved in many timeshare scams but they also have to pay a lump sum upfront, which allows them use of a specific unit at the same time every year.

In today’s timeshare market, a one-week interval is most common, but the time frame can be shorter or longer depending on the unit. Timeshare owners are also required to pay annual fees that cover maintenance costs.

Average Price Of Timeshare

Con: Timeshare cost a lot of money. The average sales price for a one-week timeshare is approximately $16,000, with an average annual maintenance fee almost $700, according to the American Resort Development Association.

Con: These days, timeshares increasingly operate on a points system and these points cost a lot of money.

For all these and many more reasons today timeshare cancellation are on the rise, big time! If you have purchased a timeshare and would like to cancel but are not sure how to cancel the timeshare we can help you.

Most timeshare buyers are unsure that they can handle the task of doing a timeshare cancellation or they have succumb to the timeshare high pressure sales or one of the many timeshare scams and would like to cancel.

If you own a timeshare and would like know how to cancel a timeshare, to learn more about a timeshare cancellation see our frequently asked questions or give us a call.

To find out more about timeshare cancellation log onto our website:

www.TimeshareCancelCenter.com

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www.TimeshareCancelCenter.com
5036 Dr. Phillips Blvd. #221 Orlando, Florida 2819-3310 USA

For A Free Consultation, Call 24/7: 1-855-600-9053   

Time Share Scams - You Need to Avoid - How to!

How To Avoid Timeshare Scams

A timeshare, also known as vacation or fractional ownership, is a real estate program in which a residential property is divided among many owners who have purchased the right to use the property for a specific period of time.

Timeshares are one of the top sellers in the travel and hospitality industry. Thousands are available and millions of people "own" them. But that doesn't mean timeshares are a good idea. An article on MarketWatch.com tells us that timeshares are generally marketed and sold to people who really can't afford them.

The idea of timeshares originated in France over 50 years ago when a developer in the French Alps decided to sell shares in a property rather than trying to rent rooms.

That original timeshare model proved to be successful and it increased in popularity in Europe throughout the 1960s, when escalating property prices made it difficult for most people there to afford a vacation home.

Today, over 10 million timeshare owners worldwide have access to more than 6,000 resorts in 95 countries.

An estimated $10 billion in timeshares are sold every year, making them one of the top money producers in the global travel and hospitality industry.

Types of Timeshares

A timeshare involves a room or rooms at a resort destination. Instead of paying full price, each owner pays only a share of the property’s total cost and can only occupy it during an assigned number of shares purchased.  

Most timeshare purchases are deeded or “fee simple”. This means that the purchaser is buying an actual share of ownership in the real property, and can resell, rent, give it away or bequeath it to their heirs, just as with any other type of real estate.

This kind of timeshare share may be for a specific week(s), a specified season(s), called floating system; or one where the usage week(s) changes from year-to-year on a fixed schedule or rotating timeshare system.

Non-Deeded

In contrast, all non-deeded timeshares, are known as right-to-use, or vacation-interval timeshares, they more closely resemble a lease. The buyer owns the-right-to-use the property for a specific period of time, and usually for a number of years, but doesn’t actually own it. At the end of the term, usage rights go back to the original property owner.

Two variations of the timeshare concept are vacation clubs and points-based programs. A vacation club is a company that owns multiple timeshare properties in different locations, which are rented to its vacation club members. Club memberships can also be bought, sold or passed to heirs.

Membership in a timeshare points program provides the buyer with a specified number of points that can be exchanged for timeshare usage at various properties owned or contracted by the operating companies, which are often hotel chains or well-known resorts.

How To Avoid Timeshare Scams

Even though the unpleasant sales practices in the timeshare industry get lots of press most timeshare companies still rely on the high pressure and hard sell approach.

Potential buyers are always encouraged to stay for a very lengthy sales presentation with the promise of extravagant prizes like free vacations, cash rebates, etc., if they endure the entire sales spiel. However, the gifts aren’t always what they seem, and often come with some kind of fee or hook.

Moreover, timeshare salespeople are taught to wear down potential buyers and overcome their objections and reluctance to buy by offering attractive big price discounts but only, if the buyer signs a contract on the spot.

As with any other sales pitch, the key to avoiding a bad deal is to never make an impulsive decision and never sign anything simply to escape the high sales pressure.

Instead, interested parties should always take the information home, read the entire contract over very carefully and make sure all of the costs, including maintenance fees and assessments are fully explained.

Buyers should also understand the benefits of legally rescission periods, during which a contract can be unilaterally cancelled within several days of its signing.

Knowing that a sale is reversible and that all upfront monies are required to be returned, can protect a consumer from his or her own impulsive decision making. Rescission laws vary from state-to-state, so information needs to be obtained from each state.

If you already own a timeshare you also need to be very aware of timeshare scams in the timeshare resale market.

Finally, timeshare buyers are advised to be very wary of purchasing timeshares in foreign countries, as they will not be protected by U.S. laws in cases of fraud.

The Big Timeshare Myths

I can get a great deal on a timeshare and go for vacation every year and save lots of money!

I can always sell my timeshare if I don’t want it anymore and get my money back.

Timeshare Truth

Timeshares are one of the biggest scams on the market today. Once you are stuck in one, you are stuck in a big, deep black hole. The first two words that should come to your head when you hear the word timeshare should be . . . run fast, so you can escape that annoying, high-pressure salesperson!

Questions To Ask Yourself

Ask yourself this, why would you pay thousands and thousands of dollars for a place that you might get the chance to visit for one week each year?

And a place that you have absolutely no equity in the timeshare.

And don’t forget, you have to pay extra ongoing high priced "maintenance fees."

And reselling that timeshare is almost impossible.

And the timeshare is basically just a very big expensive, which many timeshare owners call an ongoing headache!

Are You A Timeshare Owner

If you already own a timeshare, the good news is, your timeshare contract can be canceled. Yes a cancel timeshare can be a reality.

We have valuable FREE information that will help you discover how to cancel timeshare contract. Yes, you can permanently cancel your timeshare payments, all maintenance fees and your entire timeshare contract.

If you own a timeshare and would like know how to cancel a timeshare, to learn more about a timeshare cancellation see our frequently asked questions or give us a call.

www.TimeshareCancelCenter.com

5036 Dr. Phillips Blvd. #221 Orlando, Florida 2819-3310 USA

For A Free Timeshare Cancellation Consultation,
Call 24/7: 1-855-600-9053