I’m Michael Santos, with Timeshare Compliance. Our team has the experience necessary to assist people who want to cancel timeshare contracts. We can’t help everyone. But if the sales presentation or sales representative relied upon fraudulent misrepresentations, we can use those misrepresentations to end the financial suffering the clients we serve.
We start by listening to what our customers experienced. From their stories, we assess whether the developer and representatives of the timeshare developer complied with the Consumer Protection Act. If the developer failed to comply with any aspect of the Consumer Protection Act, the client may succeed in canceling the timeshare contract.
For example, many states recognize that real estate laws govern timeshare contracts. In other words, only a licensed real estate agent is authorized to sell a timeshare.
There are valid reasons that legislators require anyone who sells a timeshare to have a valid license to sell real estate. For one, as a licensed real estate agent, the professional should abide by a higher standard. Licensed professionals, theoretically, would be less likely to employ high-pressure, manipulative tactics during the sales process.
Purchasing a timeshare is a major expenditure for most people. The timeshare contract can obligate people to spend hundreds of thousands of dollars over time. To illustrate, take a timeshare contract valued at $25,000. To make it seem easier, timeshare developers may finance timeshare contracts over time—at interest rates that seem extortionate. For example, $25,000 financed at 17% rates would bring payments to $367 over 20 years. Yet multiplying $367 by 240 monthly payments amounts to more than $88,000. In addition, the timeshare contract would obligate the owner to annual maintenance fees that would add thousands in additional expenditures. Clearly, such an example amounts to more than $100,000. Worse, those expenditures would come from after-tax income, lifting the payments even higher.
Licensed real estate agents would be less inclined to mislead people into believing that timeshare expenditures represent a good use of family resources. When timeshare developers allow people without valid real estate licenses to sell timeshares, they may violate consumer protection laws. Our team uses such noncompliance issues as a basis to help customers invalidate—or cancel timeshare contracts.
Call 1-800-705-6856 for a free consultation. Or access our free timeshare compliance manual by clicking the following link: