If you have recently decided on timeshare selling or timeshare cancellation in Florida, you should be wary of exit scams and timeshare exit scams. These are both names given to companies who entice you to use their services, only to charge you excessive amounts of money or leave you no better off than when you started. To avoid falling victim to such frauds, here we have listed a few timeshare exit scams below.
When you buy a timeshare, you’re paying much more than just the ownership of the property itself—you’re also paying maintenance fees, which can sometimes be upwards of $100 per year or more. These fees are intended to help pay for repairs and upkeep, but unscrupulous sellers will sometimes use them as an excuse to charge you exorbitant maintenance fees that are not actually being used to maintain your property.
False Promises That Timeshare Representative makes
Promise 1: Interest Will Continue
The interest that you receive on your timeshare will continue to appreciate and thus make your investment even more valuable.
Promise 2: Afforded a Priority
You will be afforded priority over others when you are booking a reservation.
Promise 3: Can Make Rental Income
You can rent out your timeshare and make rental income.
Promise 4: You Can Sell Your Timeshare
You will be able to sell your timeshare to a third party at a premium.
Promise 5: It Will Be A Valuable Investment
Your timeshare will be a valuable investment.
Florida law On Timeshare Cancelling
It’s important to note that sellers of timeshares can offer buyers a three-day right of rescission from the date of purchase under Florida law. This means that if your buyer decides not to keep their contract after three days (72 hours), they have three business days in which they can cancel with no fees whatsoever. If you’re considering canceling and were actually scammed, you may have up to four years in which you could file a suit. It is best to hire a professional timeshare lawyer to cancel Florida timeshare.
The Bottom Line
If you’re in the process of buying or selling a timeshare, you need to know what to look out for and how to avoid scams, so it’s essential that you find an experienced timeshare lawyer in Florida. Timeshare attorney Susan Budowski has been helping people all over the state of Florida with their timeshare problems since 2004, and she can help you too by providing personalized legal services to meet your individual needs.