Our Most frequent questions and answers
Simply contact us at email@example.com (or through our website) and you will receive a free consultation call.
No, it does not. We can terminate your timeshare no matter where you purchased it.
No, we do not. Initial consultation calls and completely free, and you only pay us once our services have been acquired.
There are many factors that come into play, thus every timeshare agreement takes a different amount of time to be resolved. On average though, it takes around half a year.
Although it rarely happens, in case we fail to deliver what we promise we will provide you with a full refund of your payment.
Unfortunately NO! Unlike traditional real estate, which typically appreciates in value over time, Timeshares are the opposite, they tend to depreciate.
While each property is unique, typically Timeshare property values are negatively impacted primarily due to Supply & Demand, and High Purchase Cost relative to value.
Supply & Demand
One contributing factor is Supply & Demand. Resort Developers continue to build and sell new properties. In 2018 various sources estimate Timeshare sales exceeded $1 Billion! That represents an awful lot of new inventory coming available to the market each year.
In additions to typical construction expenses, timeshare developers incur considerable marketing costs to generate sales of new properties. These marketing costs are passed along to customers. Often comparable properties are available at lower entry points as compared to new Timeshare properties.
We wish you luck, however the reality is that most Timeshare owners experience great difficulty in selling properties. Most properties are not worth the purchase price and comparable properties can be found at substantially lower entry costs.
Limited Resale Value
Many Timeshare owners accuse Resort developers such as Marriott, Westgate, and Wyndham of committing Timeshare fraud by advising consumers they would be able to sell their Timeshare for a profit if the cost became too much to handle. Timeshare owners have learned firsthand the resale value for these properties is very limited. Often many consumers are under a different impression at the time of signing, which results in one of the most common Timeshare complaints, perhaps even constituting fraud.
Ultimately most Timeshare owners find it very difficult to sell properties. Realistically it can be downright challenging to sell a Timeshare property. A potential sale may be more difficult due to the restrictions placed on Timeshare contracts.
A simple search on Ebay and you will find an extensive list of properties for sale. Furthermore you will notice most Timeshare owners are aware the resale value is very limited as most properties are listed for pennies on the dollar.
This company, Sell My Timeshare Now has + 2.5 million listings! Once again if you look closely you will notice that most properties are listed at substantial discounts. In some cases just $.01 per property
While owning a Timeshare doesn’t come with the same types of costs associated with owning traditional real estate, the costs associated with a Timeshare can be astronomical. Not only are you stuck paying maintenance fees that increase each year, you will also be responsible for paying taxes and special assessments, in addition to a mortgage (if applicable).
While Timeshares offer you the freedom and convenience of no maintenance, these properties include fees to cover the cost of maintaining the property. These maintenance fees, are usually paid annually, typically increase each year, and lack any control over the annual increases. The average annual maintenance fee for a Timeshare is $660, according to Howard Nusbaum, CEO and president of the American Resort Development Association. You pay that fee whether you use the property or not. In addition, you could be liable for special assessments. If you don’t pay up, the developer can foreclose on your Timeshare.
Timeshare maintenance fees can rise dramatically from one year to the next, which can be a source of financial stress. The national average of maintenance fess rising per year is 8-12% and getting worse every year. Most people, when taking out a Timeshare contract, would have done their calculations to make sure that annual maintenance fees are affordable within their budget. When maintenance fees rise, however, this can throw the budget out, creating affordability issues that can become incredibly difficult to overcome.
While most Timeshares carry insurance and have reserve funds to cover major repairs, sometimes the unexpected occurs. When the complex incurs a large and unexpected expense, it can pass the cost of that expense to the owners through a special assessment. You’re legally obligated to pay those special assessments, just like you are the maintenance fees. With many Timeshares being located in areas that are prone to violent weather, this is a real risk.
For example, if your resort gets hit by a hurricane and there are damages, you the owners become obligated to pay fees for the damages to be fixed.
Take the 2011 case of DRI’s Hawaiian Collection, where individuals “were recently asked to help foot the bill for an estimated $65.8 million in repairs due to ‘water intrusion.’ Some 7,000 to 8,000 deeded week owners are being assessed $41.5 million over five years, while about 12,600 Hawaii Collection points owners are being dunned for $22.9 million during the same period…Yearly owners have been told they must pay a total of $5,893” (Source: SFGate)
When you purchase a Timeshare, you are actually purchasing an interest in a piece of real estate, most often a resort condominium. Resort developers are notorious for putting the hard sell on potential buyers. It’s not unheard of for a vacationer to attend a sales presentation solely to get a free bottle of wine of a round of golf, and then walk out as a Timeshare owner. Others sign Timeshare contracts only to realize later that the deal is not as good as it originally seemed. For example, many Timeshare buyers are unaware of their obligation to pay taxes, fees and assessments. When adding up the total financial cost, many people have second thoughts as the costs are significantly higher than originally planned.
Escalating and Unforeseen Costs
Perhaps the most common Timeshare complaints surround ever increasing costs. This is a subject of considerable consumer outrage, particularly because many consumers are unaware of these costs at the time of purchase. Timeshare salesmen are very good at what they do, and neglecting to mention there are certain fees associated with a Timeshare purchase is one of their most commonly used tactics. While this is the focus of many Timeshare complaints, this practice is a legal gray area. The case for fraud can certainly be made, but it can often be hard to prove that a legal document was signed under false information or misleading statements. Whether or not this Timeshare complaint can be used against a Timeshare company, it can certainly be assumed that the great number of these are valid.
When the entire industry is based on a legal document that was signed under circumstances that are highly suspect, there is likely to be many complaints. This is why the Timeshare industry enjoys such a reviled reputation among consumers. Even though these business practices may technically be legal, many consumer Timeshare complaints argue they are not morally right. While the laws may protect Timeshare companies from the complaints, it certainly does not justify their business practices.
Other than cost complaints, including hidden fees and rate hikes, there are actually many other common consumer complaints that, while not apparent, are nonetheless very widespread. It seems as though the public is highly negative regarding Timeshare companies, and countless complaints come through every single day.
People always ask why Timeshare companies are still able to operate. The answer is simple, this industry is a multibillion dollar industry and it is very profitable for the government. The revenue that is generated every year is upwards of $10 billion dollars and there are a lot of taxable dollars involved in that.
U.S. Timeshare Industry: By the Numbers
Sources: AIF State of the Vacation Timeshare Industry: United States Study, 2018 edition (reflecting 2017 data); AIF Economic Impact of the Timeshare Industry on the U.S. Economy, 2016 edition (reflecting 2015 data); AIF Shared Vacation Ownership Owners Report, 2016 edition (reflecting 2015 data)
$9.6 Billion—Size of the Industry
1,570 Timeshare resorts in the U.S., 205,100 units – 131 units per resort on average
By comparison, Major League Baseball Annual Revenue = $10 billion
By comparison, Music Industry Annual Revenue = $8 billion
9.2 Million = Number of U.S. Households That Own 1 or More Types of Product(Timeshare weeks, points, fractional and/or Private Residence Club)
About Timeshare Owners
68% are married
Average age of an owner is 47 years old
10.9% of Timeshare owners earn $100K or more
$22,180—Average Price of a Timeshare Interval
$79.5 Billion = Contribution to U.S. Economy
511,782 full- and part-time jobs
More than $28.1 billion in income and wages
Approximately $10.2 billion in tax revenue
$10 Billion—Amount Spent by Timeshare Owners & Guests during Timeshare Stays
Approx. $3.4 billion spent onsite at resorts.
$6.6 billion was spent off-site in the communities where the Timeshare resorts are located.
81%—Average Timeshare Occupancy
40% of occupants were owners or owners’ guests; 17% were exchange guests; 17% were renters; and 7% were marketing guests.
Comparatively, hotel occupancy was 65.9% in 2017, according to Smith Travel Research.
12 Million—Number of Nights Rented at Timeshare Resorts
The industry continues to attract new owners. In 2017, 41% of Timeshare sales are from new owners, reversing a trend of increasing reliance on existing owners.