Think carefully before you sign anything. Because, before you know it, you have signed a long-term commitment for a timeshare, or have been trapped in a timeshare scam.
Read through the offer carefully.
- Write down the verbal promises of the seller on paper.
- Ask for a copy of the agreement, and read it through quietly at home or in your hotel room. Do you even feel the slightest suspicion? Then don't sign!
The consideration phase
- Think of all the costs, including the annual maintenance costs, your transport costs and your daily expenses (i.e., for meals).
- Keep the risks in mind. What happens in the case of bankruptcy of the seller? You could lose your rights, and your money.
Don’t pay too soon.
- Only pay after the cooling-off period of fourteen days has elapsed (in case of a resale, only after it has been completed).
- Use your credit card, because you then have three months to dispute your transaction via chargeback, and your card issuer can refund you under certain circumstances.
A healthy dose of mistrust can also shield you from timeshare scams. Do not simply believe in the cashback the seller promises you, or in the likelihood that your resale will really succeed.
What if the damage is already done, and you have signed the contract? Check how you can still perhaps get out of it.