A timeshare is a form of investment through which an individual purchases the use of a holiday property for a finite amount and period of time for an infinite amount of years – or until they sell that investment on. Hence, when timesharing first hit the public consciousness it quickly grew into an entire industry as eager Brits rushed to bag a slice of paradise.
Unfortunately, and as with many ventures, the initial excitement and ‘hype’ created by timeshare investing fizzled out quickly. In fact, it didn’t just fizzle out; it left many timeshare investors having been burned and burned up a lot of investor’s time and money too.
To learn more about timesharing and avoid becoming a timeshare victim, the Timeshare Users Group website provides a free, online and unbiased Timesharing 101 guide.
How are Timeshares Mis-sold?
One way thousands of timeshare investors have been burned through having purchased into timeshare investments is through having been mis-sold a timeshare investment. Timeshare are mis-sold in a number of ways.
Being pushed into purchasing a timeshare whilst at a presentation to simply learn about timeshares and seek information, by a sales person who has knocked upon your door uninvited or via a cold call unfortunately all happen. It might seem surprising, shocking even, to learn that aggressive sales people, pitches and presentations which seek to ensnare vulnerable individuals are going on in 2015, but they are. Aggressive selling is just one means through which timeshares are mis-sold though.
Misleading or ambiguous information in contracts is just another of the myriad of ways timeshare investments are mis-sold. Misleading contracts happen or are created, for example, when promises made during timeshare presentations are subsequently missed out in contracts individuals then sign believing the promises they have been made during a presentation or whilst privy to a sales pitch.
Having Purchased a Misrepresented Timeshare
Misrepresented Timeshares differ from misleading information or contracts in that a misrepresented timeshare is one which is sold not as described in a sales presentation, by a sales person or within a contract. It needs to be made clear, misinterpreted timesharing does not describe having been sold a timeshare opportunity in, for example, a property described as ‘beautiful’ which you subsequently happen to think is not beautiful. Hence, beware of subjective statements and ambiguous descriptions when discussing a timeshare property with a sales representative. Rather, misrepresented timeshares are those which, to give a few examples are sold under the proviso that they are within a five minute walk of beach when the reality is that the property is located a matter of miles away or that the property features a garage or veranda that in reality does not exist.
What Can I Do If I Have Been Mis-sold a Timeshare?
If any of the above scenarios are something you have experienced or if you have or believe you have through other means been mis-sold a timeshare contact the Timeshare Consumer Association. The Timeshare Consumer Association employ a team of timeshare experts whose sole duty and job is to help you to assess whether you have been mis-sold a timeshare and handle any consequent compensation claim. What is more, being experts and dealing with cases such as yours every single day, seeking the advice of the likes of those at the Timeshare Consumer Association is likely to prove the difference between making a significant financial loss and avoiding one.