Firstly, all Timeshare are not now or have ever been Investments. Everybody has lost. It’s as simple as that. In investment terms, the allege investment is like backing “red” when all the numbers of the roulette table are black.
Most people want to take a holiday and to get away from the drudgery which life throws at you each and every day. Therefore, whilst on holiday or contemplating one, you are vulnerable and can be potentially targeted by the touts employed by the timeshare developer. In the baiting process, you will not be told they are selling timeshare, when you arrive at the resort the word timeshare will not exist in any wall mounted articles, brochures or banners. When you get to the meeting, again the word “timeshare” is not mentioned, yet that is exactly what will be sold to you.
Normal holidays are sold on the high street and the internet and fully describe what it is you are buying were as timeshare is so blighted and objectionable and is not mentioned.
If you see the words Resort Development Organisation RDO TATOC RCI you can bet it’s a timeshare resort. If you are required to sit in a one-to-one meeting, then again it’s a timeshare resort.
Some like the predictability of knowing exactly what to expect from their holiday and owning an apartment will deliver just that. But the term “owning” is far from the truth in timeshare, as you will own nothing, other than a perpetual liability.
At all times, it’s very important to know what you are buying and that knowledge is masked by the words delivered to you in the sales presentations. Words like holidays for life discounted holiday forever, membership in an exclusive holiday club, fractional ownership, point systems membership, floating and flexible holiday, rights to occupy a holiday property, and leisure credits. All words that essentially will at some stage deliver heartache for you, but copious amounts of profit for the seller.
The fixed week timeshare system is capable of being an investment in holiday securement, but will never return you any money if sold. These potentially good timeshares were replaced by floating timeshares then Points clubs then on to fractional property ownership, all these timeshares are non-investments yet they are peddled as such. In Europe, the word “investment” in timeshare sales is “banned”, in fact, the word “property” is banned in some countries, yet many resorts have simply ignored the law and still sell you timeshare labelled as “an investment” or a “property” purchase.
No one has ever received that promised investment, all timeshare bought from a resort, lose the majority of its value and as soon and you have handed over the money.
When timeshare is sold, it’s sold under the deliverance of convoluted language. When the product is being sold, the seller ensures the word timeshare is not used, why? Because it’s blighted. So, the very product sold is mis-described from the off. When it is sold, you essentially are buying into a contractual relationship yet again the very contract [which is authored by the seller] does not feature in the sales presentations.
You should ask for it and then when the representations are delivered simply ask where does it say that? The representations simply do not [in any way] accord with the contract you will sign. When the contracts are presented they are rushed, however, the sales presentations are lengthy, arduous and last many hours. But in reading this, you have probably bought a timeshare and are feeling forlorn and regret it.
Should you elect to take your troubles back to the resort, they will either try and sell you another product, sell you a termination or eventually offer you a free exit on the condition you don’t sue them for compensation for the mis-selling they originally perpetrated.
You cannot resell the timeshare products, the cant give them away and you can’t deed them to another without the permission of the resort [on most occasions]. You are trapped and have been snared.
The only way is to seek advice from someone independent, who is not involved in the world of timeshare mis-selling. Someone who has experience in the law and does understands the converted contracts, which you signed.
What TESS is finding is that the courts generally agree with the concept that most timeshare has been mis-sold and are issuing judgements against resort should your case be pleaded correctly. Supreme courts are ruling in favour of consumers and are awarding substantial damages, yet this fact is not reported by the paid servants of the timeshare industry like TATOC and/or the Resorts Development Organisation [RDO].
When trying to obtain good and sound advice, consumers are faced with a selection of others scammers, who have sold timeshare for many years, have been dismissed and have now created marketing companies in the guise of Law firms, delivering what they perceive to be legal advice. Therefore, consumers get scammed again and again.
The only way to deliver certainty is to check if the companies are licenced or regulated.
Posted on: 29th April 2017