For most people, the thought of having a gorgeous property in a highly desirable vacation area sounds fantastic. Add in the benefit of only having to pay for a share of a property that might increase in value over time, and it all adds up to a very sweet-sounding deal. All of this is part of the lure of the “timeshare” condominium deal, and it’s an idea that has been sold and resold to enthusiastic real estate investors since back in the 1980s. For a time, timeshares were a really “hot” real estate investment idea, but the attractiveness of timeshares has ebbed and flowed over time, depending a lot on the general state of the economy.
The Pros and Cons of Timeshare Deals
While a timeshare deal can sound absolutely great on paper (or in a savvy sales presentation), the actual part-ownership of a condo can be problematic. Many co-owners find that it’s too hard to use the condo at peak holiday times, as the other owners want to use it as well. Some find that their family’s vacation needs change as kids get older, and they can no longer get as much use out of their property. What’s most difficult, however, is for a co-owner to get out of a contract after they realize they can’t use the condo when they need it. Some owners attempt to solve this through timeshare transfers, but this can be difficult legally as well.
Many timeshare co-owners have found that the contracts they signed when buying their timeshare had problematic language which makes it more difficult to get out of the timeshare. This has become such a big problem for owners wishing to sell that they often seek legal help. Due to this, there are now consulting offices that specialize in helping people get out of their timeshare. So, if you are facing a timeshare problem, be sure to get expert legal help today. No one should be stuck in a contract that’s worded in a confusing way, so get the help you need to sell that condo, now!