At Resort Advisory Group, our team works to help people who want to cancel
timeshare contracts. We start by listening to what our customers experienced. From
their stories, we assess whether the developer and representatives of the timeshare
developer operated fairly. The Consumer Protection Act offers guidance on how
developers should treat customers. If the developer failed to comply with any aspect
of the Consumer Protection Act, the client may succeed in canceling the timeshare
contract. Our team can help.
For example, many states recognize that real estate laws govern timeshare
contracts. In other words, only a licensed real estate agent may be authorized to sell
a timeshare or discuss specific aspects of the sale.
There are valid reasons that legislators require anyone who sells a timeshare to
have a valid license to sell real estate. For one, as a licensed real estate agent, the
professional should abide by a higher standard. Licensed professionals,
theoretically, would be less likely to employ high-pressure, manipulative tactics
during the sales process.
Purchasing a timeshare is a major expenditure. The timeshare contract can obligate
people to spend hundreds of thousands of dollars. For example, consider a
timeshare contract valued at $25,000. To make it seem easier, timeshare developers
may finance timeshare contracts over time—at interest rates that seem
extortionate. For example, $25,000 financed at 17% rates would bring payments to
$367 over 20 years. Yet multiplying $367 by 240 monthly payments amounts to
more than $88,000 in total costs.
In addition, the timeshare contract would obligate the owner to pay annual
maintenance fees that would add thousands in additional expenditures. Clearly,
such an example amounts to more than $100,000. Worse, those expenditures would
come from after-tax income, lifting the payments even higher.
Licensed real estate agents would be less inclined to mislead people into believing
that timeshare expenditures represent a good use of family resources. When
timeshare developers allow people without valid real estate licenses to sell
timeshares, they may violate consumer protection laws. Our team uses such
noncompliance issues as a basis to help customers invalidate—or cancel timeshare
contracts.
If you would like to speak with our team at Resort Advisory Group for a free
consultation, call us at 1-844-493-5992.
