General Advises Marylanders to Know the Ins and Outs of Timeshare
MD ( July 30, 2010) -In the latest edition of The
Consumer’s Edge, Maryland Attorney General Douglas F.
Gansler advises consumers to thoroughly review all the advantages
and disadvantages before purchasing a timeshare. Despite sounding
ideal, some timeshare purchasers have regretted their decision
due to factors such as poor resale value and costly fees that
they didn’t expect. The Consumer’s Edge Edition
140 is available online at http://www.oag.state.md.us/Consumer/140.pdf.
Timeshares and vacation interval plans are two common vacation
ownership options. There are varying alternatives available
within each type of plan, and Marylanders are urged, before
making a purchasing decision, to research whether the purchase
is right for their lifestyles. Consumers shouldn’t
make a purchasing decision based on a sales pitch. Some developers
pressure consumers to sign paper work immediately, or promise
exciting destination possibilities that never come to fruition.
Before purchasing a timeshare, Marylanders should:
the costs, including mortgage payments, travel costs,
annually increasing maintenance fees, closing costs, broker
commissions, finance charges and other taxes. Visit
timeshare resort for a first-hand experience. Speak with
owners about their experiences.
the Attorney General’s Office in the state where
the property is located, or the local Better Business
Bureau, and inquire about complaints against the developer.
someone who is experienced in real estate contracts
to review the paperwork.
Timeshares are an expensive purchase and should not be considered
an investment,” said Attorney General Gansler. “Consumers
need to do their homework before signing any contract.”
For more information on the featured topics, consumers
should contact the Office of the Attorney General
at 410-576-6300 or toll-free at 1-888-743-0023.
They may also visit the
General’s website at www.oag.state.md.us.
The Office of the Attorney General distributes
Edge to more than 900 businesses, agencies, schools and community
associations. Groups interested in receiving a monthly issue
should call 410-576-6956 or e-mail email@example.com to be placed on the e-mail distribution list.