time share?
Posted on Sep 14, 2009 under Time Share | 5 CommentsI just got back from vacation, while we were there got suck in to bought a Time Share is it good thing or we just make a bad decision
Depends, how much and what you maintenance fees are. Usually it is a lot cheaper on the resale market. Find out what your right of recession is for the state you bought in.
In California it is 7 days from the day you signed the contract OR 7 days from when they send you the Public report, whichever is longer.
I rescinded after receiving the report and they are trying to say it I was past the rescinding period even though it is stated right on the Ca. Dept of Real estate form and had to get my lawyer involved.
September 15th, 2009 at 3:04 am
I’d get out of it…but then again I don’t share…probably why I dont play well with others
References :
September 15th, 2009 at 3:17 am
you wont know until you have used the time share more….
References :
September 15th, 2009 at 3:48 am
That depends/ It sounds as if you are not happy with being pressured into this. The only real problems are these:
1) you really can’t afford it
2) airfare to Hawaii is going up up up with no ceiling in sight.
Check your timeshare agreement, as I am hopeful that it contains a 30 day period in which you are able to cancel without penalty. You may wish to exercise this option.
References :
September 15th, 2009 at 4:17 am
Depends, how much and what you maintenance fees are. Usually it is a lot cheaper on the resale market. Find out what your right of recession is for the state you bought in.
In California it is 7 days from the day you signed the contract OR 7 days from when they send you the Public report, whichever is longer.
I rescinded after receiving the report and they are trying to say it I was past the rescinding period even though it is stated right on the Ca. Dept of Real estate form and had to get my lawyer involved.
References :
suckered, too
September 15th, 2009 at 4:26 am
Yes. No. Maybe.
Do you have a budget that allows you to travel every year?
What are the maintenance fees? They will go up! They say they might, but they will – not every year,but plan on it!
If you are having buyers remorse and can get out of it – then you should. (as another poster said – check your right of refusal days)
You can always do research on your resort and buy it on the secondary market – eBay has a LOT for sale all the time.
IF you bought this as an investment you will NOT make money. IE: if you try to sell now.
IF you bought it mainly because you love Hawaii and can trade to other places and/or save points/weeks and leave it to your children, then be happy with your decision. (Guess you didn’t specify where you bought, I used Hawaii as an example because that is where we bought.)
We bought one several years ago, have added another week and just bought more points.
YES the maint fees can be killers – but if there is a resort you love to go back to (or want to trade into) it is still cheaper than regular rent. Those nice resorts don’t come cheap! The regular rack rate can be hundreds of dollars a day.
It all really depends on the reason you bought in the first place. I know every year when we get our bill, I think WOW should we have done this? BUT when I am on Maui or Kauai for 10 days, ahhhhhhh it is soooooo worth it!
We own with Diamond Resorts and have been really happy with them. They bought out Sunterra a year ago, and everything has improved.
References :