Selling Timeshares
To many consumers who have little experience with the timeshare industry, the concept seems fresh and exciting. The chance to have a vacation property in the meantime, with the opportunity of selling at a later date to make a profit may sound enticing. Those in the business of selling timeshares will try to convince the consumer that it is a sound business investment and a glamorous purchase. However, this is often very far from the truth.
Selling a timeshare is an extremely difficult process with little probability of success. Consumers are lured in by exotic promises with the reassurance that if they ever tire of “owning” a timeshare, they can sell at a profit. The first problem is the illusion of ownership. Timeshare holders do not own a property in the traditional sense, which is why the process of selling timeshares is so complicated. However, consumers will have to bear the burden of many negatives of actual ownership. This includes:
1) A high annual fee
2) Property taxes
3) Upfront fees
4) Inability to sell timeshare
Furthermore, owning a timeshare is much like simply booking a hotel room. However, while the timeshare service is very similar to hotel reservations, there are many negatives associated with the ownership when compared with the hotel industry, including:
1) Fixed schedule
2) Interest and fees
3) Fixed payment
4) Set location
Why would the consumer pay for what is essentially a hotel reservation with all of these extra burdens and restrictions? Because they are promised a return on the investment. Timeshare consumers are told selling timeshares is a great way to make money. Nothing could be further from the truth.
Selling a timeshare is an extremely difficult process with little probability of success. Consumers are lured in by exotic promises with the reassurance that if they ever tire of “owning” a timeshare, they can sell at a profit. The first problem is the illusion of ownership. Timeshare holders do not own a property in the traditional sense, which is why the process of selling timeshares is so complicated. However, consumers will have to bear the burden of many negatives of actual ownership. This includes:
1) A high annual fee
2) Property taxes
3) Upfront fees
4) Inability to sell timeshare
Furthermore, owning a timeshare is much like simply booking a hotel room. However, while the timeshare service is very similar to hotel reservations, there are many negatives associated with the ownership when compared with the hotel industry, including:
1) Fixed schedule
2) Interest and fees
3) Fixed payment
4) Set location
Why would the consumer pay for what is essentially a hotel reservation with all of these extra burdens and restrictions? Because they are promised a return on the investment. Timeshare consumers are told selling timeshares is a great way to make money. Nothing could be further from the truth.
Why Selling a Timeshare is so Difficult
The main reason the timeshare industry has become so synonymous with fraud and scam artistry is the misleading way sellers represent the process of selling timeshares. The inflexibility of a timeshare contract is the very root of this problem. Consumers are subjected to upfront costs, fixed payments, and fixed locations. Once timeshare buyers realize they are locked in, there is very little they can do on their own to break the chains.
The primary reasons for the difficulty in selling a timeshare comes from the loopholes the buyer must jump through and the depressed market for timeshares. There are often many small technicalities in timeshare contracts that make it very difficult to sell without legal representation. Without this representation, the seller must pay a fee for a listing to be posted for another party to buy their timeshare. This is where the fundamental problem occurs. The great market for timeshares that consumers were sold on is in reality extremely depressed. The listing is posted, but the potential buyers never materialize, and the seller is stuck with their unwanted timeshare.
The arduous process for selling timeshares should halt potential buyers until all the facts are gathered. Those who are stuck in a contract and are looking to sell their timeshare are best served by enlisting the help of a third party. Legal representation and companies who specialize in breaking timeshare contracts or selling timeshares are a consumers best bet. Furthermore, timeshare forums are a great place to get firsthand advice for any timeshare seller or potential buyer.
The primary reasons for the difficulty in selling a timeshare comes from the loopholes the buyer must jump through and the depressed market for timeshares. There are often many small technicalities in timeshare contracts that make it very difficult to sell without legal representation. Without this representation, the seller must pay a fee for a listing to be posted for another party to buy their timeshare. This is where the fundamental problem occurs. The great market for timeshares that consumers were sold on is in reality extremely depressed. The listing is posted, but the potential buyers never materialize, and the seller is stuck with their unwanted timeshare.
The arduous process for selling timeshares should halt potential buyers until all the facts are gathered. Those who are stuck in a contract and are looking to sell their timeshare are best served by enlisting the help of a third party. Legal representation and companies who specialize in breaking timeshare contracts or selling timeshares are a consumers best bet. Furthermore, timeshare forums are a great place to get firsthand advice for any timeshare seller or potential buyer.
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