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A "timeshare" is a property owned jointly by multiple parties, each of whom is allowed to use the property during specified times of the year. It is a form of property ownership that became very popular because it gave people the ability to have their own vacation property without the expense associated with owning it outright. It is also an industry ripe with fraud. Timeshares are generally sold via a "presentation," which are often attended because of some kind of incentive, such as free time in a hotel or some kind of merchandise. It seems like a very fair situation – you get free stuff or a free vacation for doing nothing more than watching a presentation. However, the prize awarded in this situation is often a scam itself. For example, you may be told that your prize requires a small fee for shipping, but when the item arrives it may not at all be what you were expecting. The time share presentation is a very high pressure selling situation, and you are highly advised not to make any decisions at that time. If you are pressed for an immediate answer, say no and walk away. And don't sign any contract until it is reviewed by a lawyer. In other words...think! One of the major selling points you will likely hear in a time share presentation is that it is an investment. However, research has shown that the timeshare market has many more sellers than buyers. Common sense (and the law of supply and demand) dictates that that is not a good situation for the seller. Excess supply drives prices down, not up. In addition to the negative economics, the price of a timeshare will often include substantial fees for selling costs. These are not costs you can likely pass onto the next buyer, so already you are in a situation where the price you can get for the property is going to be much less than what you paid for it. In the end, it is probably not prudent to look at a timeshare as an investment. If you are looking for investments, find a good investment advisor or stick your money in mutual funds. But avoid exotic or difficult-to-understand real estate transactions such as timeshares. If you buy a timeshare, buy it for what it is: a place to take a vacation. If you are satisfied with what are getting purely for the vacation value, then you can feel good about the transaction. Just don't expect to turn a profit. The experts at Taking-On Timeshare have years of experience in dealing with timeshare scams and misrepresentations. They can save you many thousands of dollars by helping you cancel your timeshare contract, and may even be able to get you a full refund.
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timeshare, time share, real estate, investment, business, investing, homes, vacation, property, rental property, investment property,
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