What is a timeshare misrepresentation and are you a victim?
Viking Legal Exits have been made aware by many of its clients that on occasions, during the sales presentations, some potential buyers were ‘’misled’’. The Misrepresentation Act 1967, covers situations where a statement is made carelessly or without reasonable grounds in describing its authenticity.
There are many examples that have been brought to our attention. Some of the most common relate to the declaration that because by and large, timeshare is a quality product,…… that it can provide a huge return on an investment for the customer.
In addition, sellers have been known to guarantee that the timeshare market is easy to navigate and it will be simple to exchange or even sell your timeshare at a later date.
The “Misrepresentation Act 1967” states that misrepresentation is a false statement of reality (it is nothing more than an opinion) which induces the client to enter into a contract.
As many of our clients have told us, Timeshare and certain product introductions and tours can be overwhelming meetings where customers spend hours under tremendous pressure from sellers.
Though many companies have a high standard of training for their staff, many large organisations have suffered from the fact that some of their sales personnel took to presenting a product in such a way that the customer did not truly perceive the reality of what he or she was buying.
Tragically, Viking Legal Exits have witnessed that a large number of the clients we have helped have contracts where the vendors misrepresented the nature of the product and even the nature of the business.!
If at the time of purchase, your choice to proceed and secure a property depended on the trader’s announcements and the purchase is not what was guaranteed, then it is time to consider making a legitimate compensation claim.
These are some of the most common statements and tactics that have been pointed out by our clients.
- Some customers were told that the special offer being proposed was only accessible until the end of that day and that prices would then go up.
- Customers were told that their timeshare or purchase is a financial investment that will increase in value.
- That maintenance costs will not increase.
- That the resort would buy back the property after a certain number of years.
- That they could easily sell their timeshare or purchase.
- That the product they were signing up for was not a timeshare or Holiday Ownership product but another product entirely.
In addition, customers have complained that with numerous other types of products such as Points or upgrades, they have realised that their property value is still not enough to book their desired holiday, does not offer them greater flexibility or make their property more valuable.