It is an unhappy fact that many timeshare owners have been mis-sold their timeshare. Mis-selling could include: a sales representative lying to you during the presentation, the resort taking a deposit from you during a legally defined cooling-off period, receiving no return on a timeshare sold to you as an investment, or buying a timeshare only to find it had already been sold to another party.
What Is Considered Mis-selling
Sales representatives will often claim that a timeshare is better value for money than it actually is, or present it to you as an investment. Both of these unscrupulous tactics could be considered mis-selling. A timeshare contract has no inherent market value. You do not actually own anything outside of the agreement you have with the resort and it should not be considered an investment.
The law also says that the resort must give you a 14-day cooling-off period, during which you can cancel the contract without explanation. The resort is also forbidden from taking any form of payment from you during this period. If you were not informed of this 14-day cooling-off period, or if the resort took money from you in any way, including deposits, you have good legal grounds to terminate your timeshare contract.
In addition, if you were offered an incentive to attend the presentation and it was not made clear to you that the intention of the presentation was to sell timeshares, this could also qualify as mis-selling.
What You Should Do
If you have been mis-sold timeshare, you have a good chance of being able to legally cancel your timeshare contract. Here at the Timeshare Advice Service, our team of industry experts has decades of experience in terminating timeshare contracts. If you feel that any of the above applies to you or your timeshare, please do not hesitate to contact us today for impartial advice on your options.