Before you sign at a vacation sales presentation: 9 questions and one deadline
Vacation sales presentations are designed for a decision the same day. You don't have to make one. And if you already signed, the law in most states gives you a short window to cancel. Here is how to protect yourself either way.
Nine questions to ask, and get in writing
- What is the total cost, including financing interest, closing costs and every fee, over the life of the contract?
- What are the annual maintenance fees, and how much have they gone up each year for the last five years?
- Have there been special assessments in the last ten years, and for what?
- What exactly am I buying? A deeded week, points, a right to use for a set number of years?
- How hard is it to book the dates and places I actually want? Ask for last year's availability, not the brochure.
- What are the exchange fees to go somewhere else?
- Can I rent it out or sell it, and what do resales of this product actually go for?
- How do I get out if my situation changes? Is there a developer exit program?
- What is my cancellation deadline, and exactly how must a cancellation be sent?
The deadline: your right to cancel
Most U.S. states give timeshare buyers a right of rescission: a short period after signing when you can cancel for a full refund, no reason needed. The length varies by state, commonly from 3 to 15 days. In Florida, for example, buyers can cancel within 10 days of signing the contract or of receiving the required disclosure documents, whichever is later.
If you're unsure, protect the deadline first:
1. Find the cancellation section of your contract and write the last day on your calendar.
2. Send the cancellation exactly the way the contract says (often certified mail, return receipt requested, to a specific address), and keep copies and the receipt.
3. Don't wait for anyone to call you back. The clock keeps running.
Red flags
- "This price is only good today."
- Being told you can't take the contract home to read.
- Promises that your timeshare will be easy to rent out or will grow in value.
- Anyone who contacts you later offering to "exit" or "resell" your timeshare for a fee paid up front. The FBI has warned about timeshare fraud schemes that target owners this way, often coming back a second time as fake "recovery" services.
Where Harbor fits
Harbor is not a timeshare exit service and doesn't cancel or transfer contracts. Harbor members can have a consultant read any contract with them before they sign: a vacation offer, solar, a car warranty, a gym. And if a member was talked into a new purchase, a consultant helps them act while their legal cancellation window is still open. Consultations are guidance, not legal advice.