Advice for Surviving Such a Fraudulent Industry
Timeshare attorneys may tell you that your timeshare company is being very serious when they send threatening letters attempting to coerce payments for their hidden fees. This timeshare advice is not completely true, as many threatening letters are sent out without any real merit or legal action behind them. This timeshare advice is provided because the timeshare attorney is trying to sell a timeshare owner on the need for their services, which are only necessary in the most serious of situations.
However, consumer advocacy groups often do not have this serious bias when it comes to providing timeshare advice, for they have no ulterior motive. Because these groups and online organizations do not provide any products or services, they have nothing to sell you. This timeshare advice can prove to be the most trustworthy, because while they may have a negative view of the timeshare industry, this perspective comes with serious merit.
The timeshare industry is a cold and dark sector of the real estate market. Consumers struggle with timeshare ownership constantly, as rate hikes often make the payments nearly impossible to keep up with. Furthermore, many of these payments are not known to the consumer at the time of the signing of the timeshare contract, which usually takes place at a high-pressure sales meeting. Timeshare salesmen lure consumers in with promises of easy ownership, benefits that are over exaggerated, and false claims; this includes the idea that timeshares can be an investment that helps the consumer’s financial situation.
Because of the nature of the industry, timeshare advice is highly sought after and should always come with a grain of salt. In fact, a lot of timeshare advice that truly offers insight into the industry involves particular situations. Timeshare owners deal with different companies and types of ownership, so often the timeshare advice is not made up of overarching rules. However, there are a few rules within timeshare advice that can work for consumers no matter the specific situation.
Understand the Math
The timeshare contract is often complex and is comprised of confusing legal language not commonly understood by the average consumer. If you do not understand the numbers behind this document, another great piece of timeshare advice is having an expert review it. Having someone well-versed in finance will often reveal the true nature of vacation ownership, and just as often advise consumers to stay far away from it.
Perhaps this is the most important timeshare advice of all, and is almost universally agreed upon by financial experts. Timeshares are absolutely not physical purchases, and should never be considered an investment. The problem with this business is that is affiliated with the real estate industry, perhaps the most appreciating asset one can purchase. However, timeshare advice from financial experts reveals that is this not the case with vacation ownership. The purchase of a timeshare should be considered much like a hotel room. The consumer is paying for a vacation accommodation, not making an investment. Understanding the math is always sound timeshare advice, and may prevent you from making a catastrophic financial mistake.