Purchasing a timeshare has numerous advantages but there is an assortment of disadvantages, as well. When you buy a timeshare, apart from the upfront fee you need to pay, you will be required to pay an annual maintenance fee. The maintenance fee usually increases every year and this is one of the main reasons why most owners want to get out of their timeshares.
In purchasing a timeshare, it is also very important to pay close attention to scams. During the purchasing process, it is important to read all the small prints. And be sure to sign the legal papers before making the payment. This will save you from being a victim of timeshare scams.
Be intent in reading the legal papers before signing. A number of timeshare companies may require you to sign a limiting timeshare contract where they will not allow you to rent or sell your timeshare to anyone within a certain time throughout the year or even for years at a time. It will hinder you from renting out your timeshare to other possible guests in your allotted time during the years you are unable to visit your property.
Once you also realize that you cannot afford to pay for your timeshare anymore and consider selling it, you will eventually find out that selling it is not easy. Selling a timeshare does not happen so fast. When you sell your timeshare, it is important to remain patient throughout the process. If you can’t help waiting, you can try promoting it by yourself or hire a timeshare transfer company like Transfer Smart to effectively market it and have new insights on how to get rid of it.
This article has some very timely information regarding buying a timeshare. We also found the resource section of http://www.redweek.com helpful in answering our questions, especially their "Pros and Cons" article.
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