Timeshares are among the largest legal scams around. According to Legal Fees Deductible, about 85% of people who own a timeshare state that they bought it because they felt intimidated, confused, or because of the money. Documentation for timeshare transfers can be confusing, and the sales tactics are often intimidating. Read on to learn more about how people get scammed into timeshares.
Timeshare presentations often come with a “come up” or giveaway. Timeshare sales tactics include making you feel guilty because you got something of value for listening to the presentation. For example, the salesperson may offer tickets to a local show you want to see while you’re on vacation. It’s a great deal. The tickets are free, and all you have to do is sit in on a presentation for an hour or two. Guilt can be a great motivator. After all, the salesperson was very nice and gave you free tickets. Timeshare people know how to turn the pressure up to close the sale.
Timeshares Are Confusing
During the sales presentation, the salesperson may use terms like “partial owner” or “you buy into the property,” which makes it sound like you’re walking away with an actual piece of property. However, when you evaluate the documentation for the timeshare transfers, you never find anything that says you own anything. When you buy a timeshare, you buy a “share of time” for the property. You’re not actually buying property.
It Sounds Like Such a Great Deal
Timeshares sound like a great deal. You can vacation at this great resort simply by paying X monthly dollars. Your vacation will be ready and waiting for you without a large out-of-pocket expense. Unfortunately, if something sounds too good to be true, it usually is. Timeshare salespeople take advantage of the fact that most people are on vacation and having a great time when they attend the presentation. You have a much different mindset than you normally would. The salespeople exploit all the endorphins coursing through your body because you’re on vacation. As a result, buying timeshares is a highly emotional decision and is often not well thought out.
Once you’ve been scammed into a timeshare, it can be difficult to get out of it. Fortunately, there’s help available. The team of experts at Lonestar Transfer has canceled over 17,000 timeshares and eliminated over $300,000,000 in timeshare mortgage and maintenance fee debt since 2010. Contact us today for assistance in escaping your timeshare contract once and for all.