Holidaymakers travel to Florida in droves to get a piece of a rodent; well okay a mouse, but not even a real mouse. The magnet that is not only the Florida sun but Disney, other theme parks, the coastal resorts plus a myriad of alternative holiday amusements, is what makes Florida a global holiday hot spot. Consequently Florida is also one of the top global hot spots for the sale of TIMESHARE!!
On a trip to a shopping mall in downtown Orlando or Kissimmee you will almost certainly find a number of booths offering various gifts such as free or discounted them park tickets in exchange for a few of your holiday hours to attend a presentation on the benefits of owning a slice of the glorious Florida sunshine.
You can see from the picture above you can pay $130 for any two tickets or just $5 each, the latter being with your agreement to attend a presentation.
Timeshare in the US is quite a bit different to that of Europe in many ways, one such difference is that the perpetual (forever) ownership contract is alive and well and is still used for most purchases. Unlike back in Europe where the maximum term of ownership is set at 50 years in most countries, which is still almost a lifetime but a considerable improvement on “forever”. There are also other legalities you need to be aware of before signing on the dotted line, and therefore research is of paramount importance.
Should I or Shouldn’t I?
Like any substantial financial commitment you need to carry out a vast amount of homework (due diligence) long before you even contemplate signing on the dotted line. There are many publications across the states that suggest that timeshare is not a good idea. Only this week we found a publication on the US based Foreign Policy website entitled “10 Reasons why timeshare is a bad investment” Whilst the article highlights a number of points specific to the USA, a lot is pertinent to all overseas purchasers. You may download the full article here:
If I Do Buy
No doubt you will have access to a wonderful resort and may look forward many years of great holidays, but don’t forget the cost of long haul flights, car hire, food and of course entertainment. Then factor in the fact that you will be contractually liable to pay annual maintenance charges and some of the initial gloss may rapidly disappear.
Lisa Schreier
American owners suffer as many problems as their European counterparts, rising maintenance fees, lack of availability, exchange failures and more. Whilst at the TCA we tend to focus on European timeshare ownerships, the US have various sites similar to ours set up to assist and champion the plight of their timeshare owners. One such site is run by Lisa Schreier, a quick visit to her blogspot will reveal that all is not necessarily rosy in the US timeshare market. You may visit her site here: https://thetimesharecrusader.blogspot.com/
Lisa proudly proclaims that she is the Timeshare Crusader and has advised thousands of US owners who are experiencing problems; she is passionate about defending the wrongs perpetrated by the industry. Her mantra is:
“Striving to be a catalyst for positive change in the timeshare industry as well as helping consumers make educated choices. Not affiliated with any timeshare or entity.”
If you have a particular problem about an American owned timeshare, we are sure Lisa would be delighted to assist. You can email Lisa direct at lisaschreier617@gmail.com and if you are into social media you can follow her on Twitter @LisaLooksAt
Not only Florida
Although we have laboured Florida, the story across America is very similar. Remember each state has its own timeshare laws and because they vary by state, it is important that you review the individual state’s legislation to be sure that the transaction is conducted correctly and lawfully. It is vital that you understand your rights involving cancellation, resale, foreclosure defence, and more. If in doubt, we are sure Lisa will be only too pleased to assist.
In an ideal world timeshare would be a seamless value for money, excellent cost effective way to holiday; unfortunately this is so rarely the case. Europe or USA it doesn’t matter, ownership problems and woes are very similar. If you own an American timeshare and have been experiencing problems both TCA and no doubt Lisa Schreier would love to hear from you.
For more information regarding this article or assistance in any other timeshare related issues please contact the TCA on 01908 881058 or email: info@TimeshareConsumerAssociation.org.uk