Why Are Timeshares Worthless In This Era?
Timeshare is an agreement where multiple individuals collectively buy the rights to a vacation property for a specific period. In a timeshare agreement, the property is divided into equal time intervals, usually weekly, allocated to different owners. Each owner is granted the right to use the property for their designated period, often annually.
The drawbacks of these timeshare agreements outweigh their advantages. There may be better choices than investing in a timeshare if you want to gain a good profit. It is not beneficial to buy a timeshare due to many reasons, a few of which are;
- Timeshares are high in cost, such as ongoing maintenance fees, etc.
- People’s vacation preferences may change, but you will be bound to the same location until the contract ends.
- Long-term financial commitments are common in timeshares, which may cause problems if your financial situation changes over time.
- Scams and frauds are increasing in timeshare contracts, where developers can charge you more than the property’s actual value or misguide you to persuade you to buy timeshares.
- If your timeshare is not in a high-demand area, you will face problems in reselling it and may also have to bear a loss.
- If you think that you do not want to continue your timeshare contract, there are a few ways to cancel your Timeshare payments;
- Reselling the property through resale companies, online resale websites, etc.
- Timeshare exit companies can help you get out of your timeshare contract.
- The timeshare cancellation policy includes a rescission period in which you can cancel your contract without facing a penalty.
- The maintenance fees and mortgage of properties are high in locations popular for vacations. These costs are to be paid annually as these contracts are annual-based. This way, these vacation properties may cost more than the usual vacation expenses.
- Over time, people’s preferences change, which can make them bored of the same vacation spot; hence, the vacation property they have paid for will not be of any use.
- As we live in a rapidly changing world, people’s financial situations change instantly. Still, Timeshare contacts come with long-term commitments, which may lead to problems for people in the future.
- The interest rates on Timeshare are 11-22%, so the mortgage will become 3x the amount you will pay at the start.
- It can be difficult to resale the property as the supply of these Timeshare properties exceeds the demand in the market so they are often resold at a loss. Whereas in some cases, the value of the property declines, which will also lead to loss.
Vitality Assurance Vacation Club Timeshare
Vitality Assurance has resorts in different locations in the US and Canada. Their timeshares are points-based, meaning you must buy their membership to gain points.
- The amount of these points will decide how luxurious and comfortable your vacation will be.
- The number of rooms, the location, the comfort level, everything depends on these points.
- These points depend on the amount you are paying for the membership. Memberships have levels like gold, platinum, etc.
- Buying their membership is easy, but getting out of it is difficult.
- Most of their new members need to read their terms and conditions properly when signing the contract because of the pressure tactics they use to sell their timeshare.
- The pictures and videos they post on their websites do not match the property.
- This is how they scam their new members.
- You must buy the membership and bear the timeshare expenses, which sounds quite expensive. The condition of their rooms does not match this statement.
- They will promise that their rooms match the luxury standards, but in reality, they are just standard rooms at the price of a luxury room.
- Even though they are considered a 4-star resort, their room condition does not match the statement.
Complaints About Vitality Assurance Vacation Club Timeshare
- This resort is severely lacking. It’s not as presented in the pictures. Stayed 2 nights, and housekeeping didn’t even come in to make beds or restock supplies. There wasn’t even staff at the front desk; we had to check in at another location. Stay away from this resort.
- If you stay here, make sure it’s not because Vitality Vacations has offered you a deal. I am writing to express our deep disappointment with the experience we have had with Vitality Vacations thus far. We booked our vacation with high hopes and expectations based on the enticing descriptions and beautiful images on your website. However, our actual experience has been far from what was promised. Here are some of the key issues we have encountered so far: Throughout the booking process and our stay, we have faced significant challenges in reaching your customer service team. When we did manage to get through, the assistance we received was minimal, leaving us feeling frustrated and unsupported. We believe that our experience with Vitality Vacations has not aligned with the standards and promises you make to your customers. We feel let down and believe that the quality of service we have received is far from acceptable. It’s clear that Vitality Vacations lacks the competence and integrity to provide the experience they advertise. I would strongly advise against booking with them, as our trip was a huge disappointment and a waste of our hard-earned money.
- They advertise their two-day or three-day stay at their resort for a wonderful fee. Take your credit card payment, and then you are contacted by a marketing person who asks many questions and then says, ” I’m sorry, you don’t qualify”. They will not tell you why you don’t qualify. I strongly feel they won’t pay me back. Why would you run a business like this? I will connect with the Human Rights tribunal.
To read more of these reviews, please visit TripAdvisor or BBB.org. Most of their customers would like to be happier with their services. At the same time, new customers complain about how their employees misled them. New members needed to be properly informed about the terms and conditions of their membership, and the property did not resemble the pictures the resort posted online or showed them when they were buying the timeshare.
This article will help you get rid of your Vitality Assurance Vacation Club Timeshare. Keep reading to learn about the following procedures;
- What is a Grace Period?
- How can timeshare exit companies help you eliminate your timeshare?
The Grace Period
The grace period is like the rescission period, where new members are provided with a specific timeframe to cancel their membership with the club.
- The grace period duration is mentioned in your contract, and the developer will also provide information about it when you sign it.
- The process of using the grace period is simple.
- You must write a cancellation letter with the relevant information about eliminating the contract.
- Ensure you write a valid reason so the company can not reject your letter.
- There is a very low chance that the cancellation letter will be rejected because the company policies favour the customers when the grace period is still valid.
- Go through your contract or contact the club to learn about the duration of the grace period of your contract and act accordingly.
If the grace period is still valid, the cancellation process will be easy, but if it is not, then cancelling your contract might be difficult and take some time.
- If the grace period of your contract has ended, we recommend you take help from an exit company.
- You can even hire a lawyer to help you out.
- After the grace period, the cancellation process becomes a little complicated.
- You will still have to write the cancellation letter, but it needs to be more formal.
- The cancellation reason needs to be strong enough to save your better from being rejected.
- Many customers have also reported that the company ignored their letters and has yet to respond.
- If you want to ensure that your letter is addressed, you need to work with a professional.
Hiring an exit company or working with a timeshare lawyer will help you figure your way out of the contract, but you need to be aware of a few things. Timeshare scams are common in the industry. Before you start working with anyone, make sure you do your research about them. We suggest you work with a reputable exit company. If you need help trusting an exit company, contact us so we can test them for you. Our team will provide you with relevant information about legitimate exit companies.
Timeshare Exit Companies
Timeshare exit companies are in demand these days. Many people who realize that timeshares are not a good investment or who inherit timeshare properties hire exit companies to get out of their timeshare contract.
- Exit companies are filled with professionals who have been working in the timeshare industry for a long time.
- Their team will help you figure out your contract’s clauses.
- They will help you understand your legal rights.
- All the important details that the timeshare company hides from you to gain profit from the exit company will inform you about them.
- But, as the demand increased, scams increased as well.
Fake exit companies will promise you to take all your worries away regarding your timeshare, but in the end, they will leave you with more worries. They will take money from you, and then they will stop contacting you. No matter what you do, you will not be able to catch them; as you know, these people are professionals in their work, too.
We developed this website to save you from these scammers. If you go through our articles, you will be able to find all the relevant information you need to avoid these scams. You can even contact us for free to learn more about timeshare exit companies. We can assist you with deciding whether a timeshare leave organization is legitimate, and we suggest working with timeshare leave companies that offer escrow so you pay no forthcoming expenses.
When trying to get out of a timeshare contract, you should keep these things in mind;
- Never stop your payments. If you decide to stop your timeshare payments, you will have to face legal consequences. The timeshare companies will never let you get away and will take every possible measure to make you pay your debts. In this fight, you are the only one who will suffer.
- Never work with a company without thorough research. Be it an exit, resale, rental or any other company, ensure you know everything about them before approaching them. Doing this will help you save yourself from scams.
- Stay patient when trying to sell or rent your timeshare property. Getting rid of a timeshare is stressful and requires time. You will have to work hard and wait if you want to find potential customers for the property.
- When working with an exit company, ensure they offer escrow. Escrow is a third party holding your payment until the exit company sells the timeshare property. In case the exit company goes bankrupt or goes out of work for any other reason, your money will be safe with escrow. This will bring you peace of mind and ensure that your money is in the right hands.
- Your timeshare contract contains loopholes. Some of them favour the timeshare company, but some are in your favour. Only a lawyer or someone professional can understand these loopholes, so you should be bold in contacting an attorney or an exit company when trying to eliminate your contract.
Our goal with our review site is to help you get a closer look at how timeshare exit companies operate. Learning how a reputable exit company operates will make red flags easier to spot when you come across one. Contact our team to help determine if a timeshare exit company is legitimate. Read over our website and fill out the form on the right, or contact us through Live Chat for a free informational consultation. Learn how you can protect yourself from a timeshare exit scam!