Timeshares are usually sold to people invited to presentations held by experienced sales people who highlight the best features of the property and urge participants to make the decision of buying into the timeshare right away. While owning a timeshare might be the perfect vacation solution for many, here are a few of the most common mistakes made when making the investment:
- Not reading the contract – it is a very serious mistake in any situation that requires the signing of a contract and even more serious in the case of long-term commitments, such as timeshares. Timeshare contracts are the documents that summarize everything that you need to know about your timeshare and also documents that need to be read, studied and understood down to the last word to make sure that you buy what you think your buy and that your rights are protected;
- Not doing the math – another mistake frequently made by people who buy timeshares is to fall for the convincing presentation and to buy into the timeshare without performing a careful and detailed evaluation of the family budget in order to determine whether the timeshare is, indeed, affordable. Many timeshare owners who have not calculated the costs of the ownership end up taking out loans just to finance their timeshare-related expenses. For more information on Timeshares, see https://www.timeshareterminationteam.com/.