Selling Timeshares IndigoGuide Timeshares

Selling Timeshares Deceptive Tactics

Today, there are a large number of resorts and companies selling timeshare without using deceptive tactics to secure a sale. Since large, highly regarded companies such as Hilton and Marriott have entered into the timeshare market the industry has gained a more respectable reputation. This has encouraged an increased interest by consumers resulting in the steady growth of the industry. Unfortunately there are still incidents of companies using hard sell or illegal sales tactics in selling timeshares. Here you will find information on your rights regarding timeshare rescission periods and how to go about cancelling a contract you no longer want.

The timeshare industry is one of the most highly regulated industries in the US and there are now strict laws on selling timeshare in each state. One such law is the timeshare rescission or 'cooling off' period. This is a period of time granted to the buyer, by law, in which he or she has the right to cancel their timeshare contract without penalty. The buyer is also entitled to a full refund, including the deposit.

Generally, in the United States, timeshare contracts have a seven to fifteen day rescission period. This will vary depending on state and company policies but every contract will have a rescission period that cannot be waived.

This is important to note as many companies selling timeshare fraudulently will ask the buyer to sign a waiver stating that they give up their right to cancel the contract. This is illegal. The waiver is not usually included in the documents given to the consumer and so will be difficult to prove. If asked to sign such a waiver it is best to walk away as it is likely that the company have not been entirely honest in other aspects of their sales pitch.

If you've agreed to buy a timeshare but feel you were pressured into signing the contract or are unsure of whether you want to keep the timeshare you can rescind. The following steps should be taken:

1.) Note down everything that was said at the presentation including the date, names of those present and misrepresentation of facts.

2.) Write a brief and precise letter requesting the rescission of your contract. Make a copy for your lawyer, credit card company and the Federal Trade Commission.

3.) Address the letter to the customer service manager, the sales manager and the owner of the resort or organization in question. You can call the customer service number on your contract and state that you have a service complaint and want to ensure that it is addressed to the correct people.

4.) Send your request via mail, e mail and fax to ensure it reaches its destination. You should also send a copy to the address on the contract via registered mail to make sure there is a record of it.

5.) In the letter, state that you will be calling in two days to confirm which credit card needs to be credited with your full refund.

6.) Follow through on this and call them in two days asking to speak to the customer service manager in charge. Do not speak to anyone else unless they are in a higher position within the company; keep calling until you get hold of this person. When you speak to them do not accept anything less than a full refund.

7.) Be persistent but polite. There is no point arguing or getting worked up as this will only make the process more difficult and stressful for all involved.

8.) Stay focused on the matter at hand, your refund and rescission. Steer clear of discussing what happened or how you were wronged as this will only lead to arguments and will delay the rescission process.

9.) When a rescission and refund is agreed, the company or resort will want your contract back. Be sure to keep a copy of all documents for your own records. Send the contract back with a letter stating that you are returning the contract under the condition of rescission.

10.) Do contact the authorities and anyone involved in your visit to the resort and presentation, such as your travel agent. They would be grateful to hear of your experiences as it is their reputation that may be affected. Simply state the facts of the situation. They may also be able to help in getting a rescission.

Other useful contacts include the Federal Trade Commission where you can find contact details for your regional Attorney General.