The New Vacation Revolution

Did you buy a timeshare at full price from a developer? If only a day or two has passed, you should cancel the purchase immediately! But what if it is too late for you to cancel the purchase and get a refund?

Since most rescission windows are only a few business days, the likelihood is that this crucial information was not able to reach you in time. If the window to rescind your purchase has ended, you are committed to purchasing your timeshare.

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If you recently purchased a timeshare from a developer at full price, you must exercise your right to rescind and cancel your purchase immediately! You owe it to yourself to take the time to make a completely informed decision. As we will show you, there are many questions to ask and factors to consider. Despite everything that may have sold you on the concept, take a step back before you do anything.

Even if you decide that you want to continue with your purchase, you can save money by purchasing through the resale market. Despite what you may have heard, the “deal” the resort developer is offering will be available to you another day. But the potential savings will rapidly disappear if you don’t exercise your right to rescind now.

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Instead of analyzing the details before making such a major purchase, the aggressive sales tactics lead us to make our first timeshare purchase in haste. Instead of making sure we were getting our money’s worth, we decided to go for it. We arrived home that evening having spent several thousand dollars and with a bag full of paperwork.

A quick read through some of the agreements and other documents left us quite confused. We had points and weeks and didn’t quite understand what to do with them. We knew that we could somehow exchange it, but once we began to evaluate the value of our purchase (as discussed in Chapter 4), we became more skeptical.

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Timeshare is a form of vacation property that offers you the benefits of owning a second home without the burden of purchasing and maintaining it. Instead of buying a vacation home that your family will not use most of the year, timeshare allows you to buy a fractional share (typically one week per year, such as 1/52 share) of that same vacation home. You can still use the property every year, but you are not directly responsible for its upkeep.

As an owner, you have the right to occupy a suite at your home resort. This right could take the form of weeks of vacation ownership, or through a vacation club membership where owners can use their “points” to stay at resorts.

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Vacation timeshare has become the nation’s fastest growing vacation industry. Large corporations such as Marriott, Hilton, and Disney have built many timeshare resorts. Some developers have virtually stopped building hotels because of the incredible profitability and growth in the timeshare market. There are timeshare resorts around the world, with plenty of fantastic opportunities that you and your family can enjoy.

Unfortunately, the word “timeshare” leaves most people with thoughts of fast talking salesmen who are trying to sell an interval at a run-down motel in Mexico. The vacation ownership industry has spent millions of dollars to market their resorts and enhance their image.

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Vacation timeshare appeals to as wide a range of consumers as there are people in the world. Timeshare owners include executives, young married couples, families with children, and even “empty nesters”. By purchasing a deeded interval, females can enjoy their timeshare for decades and then pass it on to their children. Vacation timeshare is truly the gift that keeps on giving. So then– why does the media sometimes portray timeshare in a negative way?

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