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Educational Consumer Tips

Timeshare Interest Sales or Resales

Author: Better Business Bureau
Published:

Consumers considering timeshare or camping memberships are encouraged to consider the following:

In some cases, timeshare companies will offer a prize for coming to a sales presentation. Determine if you are actually interested in the timeshare for sale, or if you are interested in the premium received for attending the sales meeting. Remember that no purchase should be necessary to receive a prize.

If you are interested in purchasing an interest in a timeshare property, make sure the contract discloses the name and address of the timeshare company, and provides information about property ownership. Find out what happens to your privileges if the property is sold or developed, or if conditions concerning the property or area change. Review the written contract carefully to make sure everything is included, especially any claims made by a salesperson. If you have questions or are unfamiliar with real estate contracts, you may wish to have your legal advisor review the agreement.

If you currently own a timeshare and are thinking of selling your property and are approached by a company offering to help, the Federal Trade Commission offers the following advice:
* Do not agree to anything over the telephone until you have had a chance to check out the company.
* Ask the person to send you written material to review; get legal advice if you have any questions.
* Ask for company references, such as the names, addresses, and phone numbers of several consumers who have used the company's services.
* Ask where the company is located and in what states it does business.
* Ask if the company's salespeople are licensed to sell real estate by the state where your timeshare or campground is located, and verify the information with the state licensing board.
* Make sure all conditions of the sale and any promises or statements made by a salesperson are confirmed in writing.

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