Being based on the concept of fractional ownership, owning a timeshare sounds like an alluring option because you get the opportunity to have a week’s getaway at your chosen location. But is that all there is to timeshares? Well, no. Multiple timeshares and ownership schemes are revolving around it, including fixed week and floating week. Whatever the type, timeshares are a money pit considering that there are many property owners, and the complexities tend to increase every time. Leading to many people seeking help to exit their timeshare in Australia.
Many additional factors impact the cost of timeshares, like unit size, location, brand, time of purchase, etc. Timeshare salespeople often create a beautiful utopia that leaves you nothing but fascinating. As soon as you sign the bottom line of the agreement, things begin to twist around you. What you need to know about timeshares is that they are a worthless piece of heaven. They depreciate over time. Timeshares are hard to resale, and when we talk about the Australian Securities Investment Commission (ASIC) and Australian Competition and Consumer Commission (ACCC), there are many complaints about companies taking money while not making any efforts to sell it.
The timeshare contracts are drafted in such a way that they often lead to draining you financially and collect payments from you in any way possible. The first wave of shock to most owners is the total cost of their first special assessment and maintenance costs that tops up besides additional charges if there is any harm to the property done by any owner. There are various reasons why a timeshare owner like you would want to exit their timeshare contract; it can be because the place no longer holds the same allure or you cannot pay the yearly maintenance fees that are set to soar. Whatever the reason is, a trusted partner in timeshare resolution like Resort Advisory Group can help you get out of your contract without any hassle and under a stipulated time frame, saving a significant amount of time.
About Resort Advisory Group Australia
If you are looking for a timeshare exit service in Australia, then the services provided by the Resort Advisory Group can be up-and-coming. Resort Advisory Group can help you exit your timeshare contracts in Australia considering its 50 years of prowess in the industry and a dedicated team of highly qualified specialists.
Being a full-service advocacy team, Resort Advisory Group has bagged many laurels and is accredited with a rating of A+ on BBB (Better Business Bureau). According to the Resort Advisory Group, they have always managed to reap beneficial results for the client and even successfully received refunds from timeshare companies. A point should be taken into consideration is that the company is not a law firm and collects data from clients to understand the unethical sales process that the client has faced to outline an effective strategy that can stand out during negotiations.
Speaking of the testimonials, clients at Resort Advisory Group are definitely delighted to choose the services offered by the company, and they also mention how effortless the entire process was. Taking away the excruciating pain of timeshare from the customers’ shoulders, the company has a proven track record of successfully persuading developers to cancel timeshares.
Talking about the goodwill of the Resort Advisory Group, the company is seen on CBS News, NBC, Fox, MNSB, and USA Today.
The entire process of the Resort Advisory group is straightforward to follow, and you are required to take a 30 seconds survey in the beginning, to see if you qualify. The survey asks you a set of questions that are:
- The original purchase price of your timeshare
- If your yearly maintenance fees are constantly soaring
- If you have a due on your timeshare
- Location of your timeshare
- Your name and contact information to let you know if you qualify
Once you have qualified, professional staff will look into the matter deeply and recommend the best course of action that you can follow. He/she will also be a focal point of contact throughout the entire process. The only requirement that the company puts forward is that you have all the information handy so that the whole process becomes even brisker.
If you are still skeptical about the process, the FAQ section within the website aims to answer all your questions related to your timeshare. The company also clearly states that they do not rent, sell or donate timeshares and only draft strategies to cancel timeshares with a 100% success rate.
What Is The Cost of Timeshare Exit in Australia?
The cost of the entire process is not mentioned by the company considering the uniqueness of every case. The team tries to understand the depth of your case thoroughly, and the first consultation cost is free. The final quote is only based on the specialist’s efforts to put further that includes the number of days. However, according to the research, we gathered that the process can take up to $3000 – $4000, but the cost also depends on the details of the developers.
The cost associated with the entire process can be a matter of concern, but it is better than paying the soaring maintenance fees of the timeshare.
Resort Advisory Group also provides a 100% money-back guarantee if they cannot solve your case, but being in the business since 2011 and cancelling millions of contracts will not be a possibility. The company also has no additional charges apart from the final quoted price.
Things You Should Know Before Exiting Timeshare
An extremely crucial thing that you need to acknowledge is that the entire process of exiting a timeshare in Australia can be overwhelming. The financial burden associated with the timeshare often tops the list but once you have decided to get yourself out of it, let’s see what a few of the things that can help you in mitigating risks further are:
Don’t Entertain Calls Of Salespeople Claiming To Resale Your Timeshare
As mentioned earlier, many people are filing complaints about how they have been scammed with the promise of selling the timeshare but not doing anything after taking the money. Don’t be lured by the deceptive sales tactics that assure you that they will effectively deal with your timeshares. They will not as soon as they receive their share. Also, when you are almost about to give in to that sales pitch, please remember that you ended up purchasing a timeshare last time.
- Can you resell it? It seems like a good option,
That entirely depends on the competition for your product, including supply and demand factors. If you have decided to resell your timeshare, you can talk to the resort and know if they are willing to take their property back because, in most cases, timeshare companies have such policies. The option of reselling is very tactical and might not go as you plan.
It is important to know that Timeshares are not an investment property, and if you are thinking about receiving a reasonable price for it, it is not an intelligent option. The secondary market holds no resale value. One of the most important demerits is that if you somehow manage to sell your timeshare, you still have your name in the agreement, which means that the second owner can decide to quit leaving all the financial bulk on your shoulder anytime.
- Pay your loans prior and ensure no dues
If you are adamant about selling your timeshare off, ensure that you have paid all your dues beforehand because no timeshare resale company will buy your timeshare if there are any dues on it. Always perform your due diligence and set priorities ahead to stay ahead in the game, which in turn expedites the process.
- Do not rent your timeshare, you are adding to the burden
This might seem like a feasible option, but it is not. There are many online pioneers who will try to explain how renting will benefit you. First, many resorts do not have the option to allow renting, and if you still choose to keep a tenant who damages your property, you have no other choice but to bear the massive costs of repair. If you are wise enough to get a good renter, you will still not be able to cover the costs that you have spent so far in the timeshare. Renting is not a permanent and safe solution.
- Is stopping payments of timeshare a good choice?
You have a bleeding wound, and you decide to close your eyes while waiting for it to heal. Does it make sense? No. Stopping payments is never a good idea. You can never escape the payment option in timeshare because they will list your due unpaid to collection agencies followed by unwanted calls. There are 2 different scenarios if you decide on not paying to the timeshare company:
- Foreclosure: it is a public record that can impact your credit score significantly. Even if your timeshare industry does not report your case, the reporting agencies can easily dig your records on their own. There is no way that you can hide it.
- Late Payment: Foreclosure usually is a last resort, but before that, you are charged with late fees penalties that again ruin your credit score. There is also a very high possibility that you have negative reviews accumulated on your credit report.
Exiting timeshare is a long process and there are a few things that you need to take into consideration before you have finally decided to exit your timeshare. Never listen to advice from people who advise you to stop paying the maintenance or resale it. During your quest, you will stumble upon companies who will almost convince you to choose them but always do your research and not trust the process.
Common Lies Told By Your Timeshare Company
By now you must have concluded that the timeshare salesperson can lie to a great extent and promise anything to sell the timeshare. The timeshare industry is facing a lot of backlash due to the unethical sales practices followed by the resorts to get more and more customers. These trained professionals will create a beautiful fairyland in your head and force you to sign the agreement very subtly, but as soon as you sign the contract, are the promises ever fulfilled? Let’s see what the most common things you come across during the timeshare selling process are:
- It is a good investment option
- It is easy to trade locations and time slots are readily available
- You can quickly sell your timeshare at a reasonable price
- The company will buy the timeshare back
- Booking will be taken as a priority
- Everything will go according to your convenience
- Giving a legacy pitch to pass timeshare contract to your loved ones
If you are a skilled researcher, you will realize that timeshares are not a very good financial choice that you have made. In the case of timeshares, you should know that if it is not in writing, anything promised to you is just a hoax, and you will have no evidence to fight it off alone. Resort Advisory Group, providing a timeshare exit in Australia, is one of the good options to go with. It will eliminate your hassle and offer you a clear pathway of what approach needs to be taken.
Currently, the timeshare industry is facing an all-time low because new customers are not quickly paying any upfront fees. The old customers are finding ways to get out of the agreement by hiring good and trustworthy agencies. Many companies are trying to stay afloat in the business by buying timeshares from the owner back and then selling them to a new individual, but that is hardly making anything possible for them. Since the regulatory agencies are willing to take actions against the malign practices followed by the timeshare industry who harass customers, many timeshare exit companies like Resort Advisory Group have taken the onus to help save clients’ money and augment their services each passing day.