Advice from CASE regarding Timeshares
Here are some good advice by the Consumer Association of Singapore (CASE) on Timeshares
- Do not attend a timeshare presentation only for the gift; very often, there are so many restrictions, the free gift is seldom worth the time you spend. Go only if you are interested in a timeshare holiday.
- Buy only from a member of Timeshare Association (Singapore; they have promised that you may cancel the contract within 5 days if you decide that you have been misled or if you think the timeshare package is not something you really need or can afford.
- Pay only by cheque, and not by credit card; cheques can be stopped, but credit card payment cannot be cancelled.
- Do not buy a timeshare scheme for investment purposes; you often have difficulty in re-selling them.
- Do not buy timeshare solely for the right to travel to other resorts.
- There are sometimes tiresome conditions to fulfill before you are allowed to exchange your resort for another.
- Do not buy a timeshare out of pity for the salesperson having to talk to you for so many hours or for fear that he or she will lose his/her job. Remember that you are paying out a large sum of your hard-earned money.
CASE also advises owners not to resell your unwanted timeshares through timeshare resellers / brokers. You will not only end up paying exorbitant fees, but also after all that effort and expense, you will find that you will not be able to get your timeshares sold. If you need to sell your timeshare, contact the resort owner directly and see if they are willing to purchase your timeshare.