How to deal with a mis-sold timeshare
There are countless satisfied timeshare owners across the world who are happy with the timeshare they currently own. However, unfortunately, there are countless more owners who feel the exact opposite about their timeshare. The fact remains that the industry has historically been plagued by unethical, dishonest salespeople, representing companies who are more interested in making money than providing a quality service. Many of these companies use devious and unscrupulous means to secure a sale, leaving people trapped in a mis-sold timeshare.
Once a timeshare deal is signed, they can be notoriously difficult to get out of, sell on, or secure any kind of exit deal. If you have been left having second thoughts about the legitimacy of the way that your timeshare was sold to you then there is a chance that you were also mis-sold your timeshare. If this can be proven, it can go a long way into getting you released from your contract.
Here are some ways that you may have been misled or coerced into signing a contract that could qualify you for a mis-sold timeshare:
- Inaccurate communication; either written, visual, or verbal regarding information pertaining to your timeshare.
- Not being told important information about the length of the contract or the mandatory maintenance fees.
- Not being offered, or being informed about, a “cooling-off” period. A legal requirement that gives you a full 14 days to consider the contract before any payments can be taken from you.
- If you were given a guarantee that the value of your property would increase and therefore be profitable.
- If you were directly pressured by the company or individual responsible for selling you the timeshare and signing you up to the contract.
- Any contract that lasts “in perpetuity” – as of 1999, any contract that lasts more than 50 years can be potentially illegal.
- A promise was made that they would buy it back at any time, but subsequently backed out of this agreement.
What to do if mis-sold
Due to the immense complexities of timeshare contracts, it can be nigh on impossible for a person to be released from their contract without professional help. If you believe you were mis-sold a timeshare, then recruiting the services of a reputable solicitor can make the process much more pain-free for you.
Your solicitor will be able to advise you on the necessary steps needed to initiate the release from the contract and will help you by preparing you for what to expect during the process. During this process, any documentation, paperwork, or photos you have of the selling process will be very helpful in putting a case together. From that point, your lawyer will be able to advise you on the best legal course of action to take, this can also include negotiating a suitable out-of-court settlement through meetings or mediation with a financial ombudsman service.
Solicitors to be trusted
If circumstances surrounding the purchase of your timeshare have left you suspecting that it was less than fully legitimate, then the experts at Sarah Waddington Solicitors can help. You simply need to get in touch with one of our friendly advisors to book a free, 30-minute consultation in order to establish any grounds for the claim you may wish to make and offer you advice on how to proceed.