Before Buying

Calculate the total cost

Include travel costs, exchange fees and maintenance fees. Remember maintenance fees are likely to increase every year based on inflation, so ask if your plan has a fee cap and make sure it’s included in the contract.

Compare

Visit the resort and evaluate its location and quality. Try talking to current timeshare owners and ask them about their experience. Is the timeshare a better option than similar accommodations in the same location?

Don't act on impulse or under pressure

The salesperson may offer you purchase incentives, but don’t feel pressured to make an immediate decision! You have the right to choose the timing of the purchase, and get the offer and all promises in writing. Be careful with any bonus offer or any clause that implies waiving your right to cancel. Any waiver is illegal.

Don't sign any document that is only in Spanish

Even if you are fluent in the language, you may not understand all the legal terminology. Make sure that an official translation is provided to you before making a decision, or take the time to get a detailed translation by a certified translator.

Do some research

Check for complaints about the resort developer or management company.

Take your time

Study the paperwork outside of the presentation environment. Read the contract thoroughly to ensure that it includes all the obligations and benefits of the purchase. It must have: the complete name and address of the developer representative, all the costs, maintenance fees, taxes, and payment methods, the location of the resort and periods of use, guarantee conditions, and in case you chose an exchange system, the location options you have and all the terms to make it effective.

Know exactly what you're getting

Many of the complaints received about timeshares center on miscommunication. People didn't get what they felt the salesperson promised. High-pressure sales tactics are another common complaint.

There is not a buyer waiting to buy your timeshare

This is the infamous "Buyer Is Waiting Scam." Do not, under any circumstances, ever let a sales representative tell you they have a buyer in the office right now waiting for your timeshare. Unless you have the only timeshare for sale at a given resort, why would your unit be the one this buyer is looking for ?

No one can tell you when a timeshare is going to rent or sell

This is the Crystal Ball Scam. Unless they are in possession of the proverbial "crystal ball" how in the world can they tell you exactly when a piece of vacation property will rent or sell for sure ?

A buyer will not offer you more than your timeshare is worth

This is known as the Over Valued Scam. With this scam, a sales representative will tell you your timeshare is worth twice more than you paid for it in hopes of getting you to sign up to sell your property with them. Timeshare is not real estate. If you paid 10K for it 15 years ago, you’d be lucky to get 14K for it now in most cases. Don't get caught being greedy! In fact the less money you want for your property, the easier and quicker it would be to sell or rent it.

Be aware of unregulated Internet pricing

This is called the Unregulated Fee Scam. This practice is deceitful and gives the time share industry a bad name. Most Internet listing companies allow their sales force to charge as much for an advertisement as they can get from their prospective customer by feeling you out. This type of unregulated pricing allows two people with the same advertising to pay different fees. If they ask you what you do for a living tell them you are poor and you need a discount even if you’re not. Check that fees are posted. Real companies should have their prices displayed for all to see. Non-Standardized pricing is wrong!

Check for a valid web presence

Some companies will create many different websites, all with similar names, in order to snare you either coming or going. If you find a company using more than one website, steer away fast. It's just another Internet listing company’s scammer trying to relieve you of your hard-earned money. When one site fills up with inventory and the scammers can no longer use it to convince you they have an inventory shortage, they start putting listings on other sites so you don’t see they already have 400 other identical properties on their site.

There is no Lifetime Rental Program

Many Internet listing companies will tell their potential customers that for a few hundred dollars, they will enrol them in their lifetime rental program. This one just doesn't pass the "sniff" test. Does it really sound feasible that for a few hundred dollars your property will get rented year after year for as long as you own it? Come on now. Be smarter than that.

If you Change your mind

Did You already purchase a timeshare? You can change your mind and cancel the contract by law - you have five business days to cancel the contract after you have signed it. If you decide to cancel the purchase within this period, notify the developer by email and certified mail. Keep the receipt as evidence that you cancelled on time. You should receive a prompt refund (within fifteen business days) of all the money you have paid, without any cancellation penalties.