Many timeshares are sold under false pretences or unfair pressure. These are some of the most common timeshare mis-selling techniques employed in the industry.
Customers are incentivised, if not outright duped, into attending a timeshare presentation. This may come in the form of a ‘free’ promotional holiday, a prize ‘won’ from a scratchcard, the promise of a room upgrade, or even the threat of not being able to check into a hotel room until a presentation has been agreed to.
Once the presentation starts, customers face a barrage of images, confusing explanations and numbers that can last for several hours, if not an entire day. The longer it drags on, the more weary the customer becomes, until they eventually agree to buy timeshare, just to escape.
The fine print
Customers are told things during the presentation that differ from the actual terms of their contract, or lied to by omission. For example, annual maintenance fee increases are not mentioned, or it is implied that the week they are purchasing has a lot more potential for international exchange than it actually does. There have even been cases of customers who were led to believe that they were buying ownership in one resort, only to find out that their contract was actually for timeshare in a completely different property.
Timeshare as an investment
Customers are sold a timeshare with the promise that it will increase in value over time, leaving them with a profit. Whilst it is true that the physical real estate price of a resort may increase in value, the constant rise in maintenance fees serves to drive down the value of the actual timeshare product, leaving many customers looking to unload the financial burden. A quick glance at popular auction site eBay reveals desperation of some owners, with products that initially cost thousands now available for as little as a penny.
Have you been a victim of timeshare mis-selling?
Our team at Legal Exits are here to help. Contact us today for friendly, no obligation advice, or use our free compensation calculator to check your claim.