A new consumer protection survey shows that, despite the importance of the timeshare industry to the state’s tourism-based economy, Floridians overwhelmingly want the Legislature to enact a 24-hour cooling off period before consumers can sign a timeshare contract. A measure that would address those concerns is under active consideration by Florida lawmakers in the 2022 legislative session.
Florida is home to about a third of all timeshare properties in the nation, with tens of thousands of units and more than 350 different timeshare resorts. A large number of those are concentrated near Orlando. The popularity of timeshares is no surprise given the appeal of luxury getaways located near world-class tourist attractions and beaches. But the industry itself has long been defined by controversial, high-pressure sales tactics that dazzle prospective customers with slick presentations and then ask them to quickly commit to a contract without allowing time to assess prospective deals objectively.
That’s exactly what the Florida Alliance for Consumers and Taxpayers (FACT) says is missing from the industry, based on a survey of 500 likely Florida voters: just a little more time to think. The survey found 93% of those who attended a timeshare presentation, and 82% of all Floridians, favored a brief cooling off period before time share contracts are allowed to sign on the dotted line. Most others were undecided, and only 1% of Floridians opposed the measure.
“The Legislature has the opportunity to address this widespread problem with a simple, small, common sense solution – 24 hours to sleep on it before signing a contract,” said Sha’Ron James, a representative of the Florida Alliance for Consumers and Taxpayers (FACT) and Florida’s former Insurance Consumer Advocate. “That at least gives consumers a chance to get away from a high-pressure sales pitch and speak with someone they trust.”
The survey of 500 likely Florida voters was conducted for FACT Jan. 13-15, 2022, and is representative by age, race, gender, political affiliation, and region of state, with a margin of error +/- 4.3% at the 95% confidence level.
The overwhelming support for the measure is driven by the fact that most Floridians surveyed who have experienced a timeshare presentation described the experience as negative. About 74% said they experienced strong-armed sales tactics, insufficient time to consider the options, or deals that were deceptive or too good to be true.
“Florida is home to many vulnerable populations who are frequently targeted by timeshare marketers, including seniors and veterans,” said State Rep. Juan Alfonso Fernandez-Barquin. “They need a chance to get out of the room before they make a decision that will have such long-lasting financial consequences.”
While the industry does have a short “rescission period” that allows new customers to back out of their just-signed period, most are only a few days long. Many consumers who engage with timeshare sales teams do so while on vacation, traveling to the timeshare resort to check it out. And before they’re even back home, the rescission period has already expired. That’s why consumer protection advocates like FACT want Florida lawmakers to install more protections on the front end of prospective deals.
I agree that a 24 hr cooling period before signing is a great idea, especially for military memebers. Timeshares aren’t always what they seem. The sale personnel will tell the customer whatever they want to get them to sign and then after signing, you’ll never hear from them again.
A cooling period is needed, especially given that it is so hard to get out, even when fully paid off. Also need to have recession period spelled out , as all the legalese that’s included makes it hard to even know what everything says and folks are often deceived when buying.
I support this measure 100%, but I recommend extending the cooling off period to 72 hours to allow the prospective victim sufficient time to check Consumer Affairs and Better Business Bureau complaints on the timeshare company, as well as allow the victim time to seek a consumer protection attorney to review the contract and offer advice. If the timeshare presentation contract falls on or near a holiday or weekend, in addition to the mandatory 72-hour waiting period, allow holidays and weekend time as well.
The only issue is that the vacation & tour is usually only a three day stay, so by 72 hours, guests will have checked outs& be gone (ha not a bad thing).
The real issue is that these glorified hotel rooms should not be DEEDED (registered with the title of deeds) and that there should be a sunset clause where at least someday you can finally get out without your heirs having to owe and/or be forced to defend a timeshare lawsuit in probate court.
We can make the law “72 business day hours after checkout from the timeshare or vacation club rental. If the consumer does not reply, that will count as automatic rejection of offer.” or along those lines. 🙂 I also think they should have periodic “opt out” dates, such as every 24 months or so.
For sure! A cooling off period is needed. This goes against all time share tactics to get you to sign the contract. This is why the consumer needs it.
Definitely agree!!!
If there is any doubt that a 24 hr cooling off period is necessary, just look at the definition of brain washing and compare that meaning to what the sales presentation involves. Brainwashing or Coercive Persuasion: to manipulate thought or action against the desire, will, or knowledge of the individual. Controlling the physical and social environment, an attempt is made demonstrate to the individual that his attitudes/thinking are wrong and must be changed, and to develop loyalty/unquestioning obedience. Typically involves isolation, obedience, and humility; strong social pressures and rewards for cooperation; physical and psychological punishments for non-cooperation ranging from social ostracism and criticism, deprivation of food, sleep, and social contacts; and continual reinforcement.
Now think about what the timeshare sales agents do to make a sale.
They limit the environment- people are not allowed to leave and are provided a very limited amount of information (most of which is untrue). Sales agents use “embellishments” to show how beneficial and affordable timeshares are by using strong social pressures and the illusion of rewards for purchasing a timeshare. Most importantly the sales agents talk consumers into a false reality. Brainwashers are extremely talented at making you think you are making the best choice for yourself…when, in reality, it isn’t. They use the high standards of society to make people feel they just cannot walk away…if they do there is something wrong with them as people. They will berate, degrade, or humiliate you if you do not think a timeshare is for you. This is why people need at least 24 hrs, if not more, to decompress, think about the purchase, research the timeshare and make an informed decision that isn’t based on what the sale agent said (because the non-reliance clause indicates that the decision is not being based on what the sale agent said).
Yes, it is grave psychological manipulation.
Agree 100%
Imposing a cooling off period is an excellent initiative! 72 hours for sure. When we bought a timeshare in NYC in 2006, we were so rushed to make a decision on the spot and given a huge volume of documents to sign without a real chance to read them or have them checked by a lawyer! We likely would have been wiser if we had been offered this cool off period.
It would sound silly to say a law needs to be passed to allow 24 hours to consider before buying a house or car. Traditional real estate agents don’t confiscate your license and credit card, refuse to give them back, hold you for up to 11 hours (the record for an elderly couple with multiple health problems), and launch a tag team of 3 to 5 agents against 1 or 2 buyers, demanding you buy THAT DAY.
The 24 hour “cooling off” period BEFORE signing a contract is distinguishable from the state-mandated contract rescission period, which is 3 to 10 days AFTER signing the contract, depending on the state. According to AARP staff writer Doug Shadel, a buyer needs time to walk away from the emotional “ether” in order to regain the intellect. In the book “Not Today Buster,” Glendora Goodwin, a former undercover Super Sleuth with Seniors Vs Crime, a Special Project of the Florida Attorney General, warns: “Be suspicious of a scam if you’re told to act immediately or, you must act on the offer the same day.” My husband and I were blessed with three wonderful timeshares. Our Maui sales agent from 1984 is still a friend. It was not until 2015, in Florida, when we endured one of the most revolting timeshare presentations you could ever imagine that I learned something had gone very wrong with timeshare today. I have heard from many current and former sales agents, managers, VPs, even a few executives, as alarmed as I am. One former sales agent said she was told to order the CIA Manual on Human Manipulation.
//It would sound silly to say a law needs to be passed to allow 24 hours to consider before buying a house or car.// Not only that, nobody I know has ever signed a contract for a house or car without having several days to read it over. Also, people often do their research before buying houses or cars. With timeshares however, we are caught off guard, captured into a trap, not allowed to do research or take the contract with us, and held even when we ask to leave, pressured for hours to sign if we dare to escape them.
There should be a 72 hour cooling off period to give consumers time to research the timeshare, comments about it, BBB reports, etc., as well as discuss potential purchase with family members and obtain a legal opinion. All documents that need to be signed should be given to the customer to review during the cooling off period prior to signing, as there is no time to do so the day of signing. This would not be an issue if timeshare companies would monitor their employees to determine if they are truthfully selling the product. Having to make a decision on the spot or that day after not being allowed to leave for 5-6 hours and/or saying “no” the first time is ridiculous.
More importantly a timeshare should never be sold as a DEED, but they all are. It’s a glorified hotel room that you CAN’T use whenever you want, the way you could use a TRUE deeded condo or house. You can’t leave your items there because you never know if you’ll get the same room twice.
Of course there should be time to go leave the room and research. The small percentage of people against it are either timeshare developers or timeshare salespeople.
24 hours is good. 48 hours is the best. Just too much info to process without having the opportunity to do diligent research.
I am thinking we should have a 7-day “cooling off period.” If the victim signs after that, then have a 30-day “recission period” added on top of it. This should allow victims plenty of time to regain their faculties and protect themselves from being bamboozled by scammers.
We purchased a timeshare in North Carolina and are in a dispute. We have attended high pressure presentations and we certainly understand why people need a 24 hour or longer cooling off period before signing. They give you five minutes to talk about what has been offered or it’s off the table. Our sales presentation in NC was not high pressure. The sales agent seemed the most honest of all we’ve encountered, but turned out to be 100% dishonest and really the most dishonest sales agent we have ever met. We were promised the ability to offset loan and maintenance fees. However, the program had been fabricated.
Having had more time we could have checked into the new offset loan and maintenance program and discovered it was bogus.
Yes that rule would be nice to add but it’s like putting a bandaid on a bullet hole. The real issue is THERE HAS TO BE A WAY OUT; cancel, sell, give back, something!! Also a vacation plan, something that has NO resale value should never be deeded! Why is FACT not addressing the real issue here? There wouldn’t be a need for cooling off period or exit company scams if timeshares companies had exit options. Don’t they want owners that WANT to be owners? The whole industry is built on lies & entrapment.
Agree 100% with Micaela’s statement that there needs to be a way out, a legitimate way out!
Crooks don’t care that their “owner” of worthless points or unvaluable timeshare doesn’t want it. As long as crooked “timeshare” folk get to do what they do best: parasitize victims like bloodsucking ticks.
Agree with Micaela. They need to consider maybe a subscription model where the contract is for 1 year, 3 year 5 year 10 year models. The longer the term the better the pricing & perks and maintenance built in, but buyers have to be able to get out when unforeseen circumstances like Covid, illnesses or deaths occur and to counter unscrupulous and predatory sales tactics. A cooling off period is needed but one often doesn’t find out potential misrepresentations and reaches until months in
24 hours is a minimum cooling off given the high pressure sales tactics. I’ve been kept for over 6 hours … Knowing you can walk away and they need to honor whatever was offered after you have time to think would save many people headaches.
There should be a 72 hour cooling off period to give consumers time to do research. We were kept for hours. Knowing you can walk away and they need to honor whatever was offered after you have time to think.
I strongly agree that you should have a cooling off period. They make it sound so good and apply pressure to make a decision right away. You can’t go away and think about it before buying in.
I absolute agree with a 24 hour cooling off period. If I had been given that time to read the contract thoroughly and do some research I would never have signed that contract with Sheraton Vistana. Biggest regret!!
Having a 24 hour cooling off period would have multiple benefits. 1) Sales reps don’t want people leaving the sales presentation because they know there will be opportunity for them to research and discover any lies told. Anything that might force a sales rep to rethink lying to make a sale would be extremely helpful. 2) If people are allowed to think about the sale, research, read reviews, do the math would be able to make a better, educated decision. Research has been done and when a person is under the type of pressure to purchase then and there they will not make the best decision. Which is another reason sales reps don’t want consumers to leave. The whole process of purchasing a timeshare is so one sided, in benefit of the timeshare and this needs to change there needs to be a few things that help protect the potential owners and current owners and a 24hr cooling off period is a start!
I definitely agree that there should be a cooling off period. There is absolutely no time
to read the material while you are there. I also feel that there should be a law stating that
the entire presentation must be recorded. We attended our meeting at Mystic Dunes in
Florida and would have immediately left if we had known that it was not being recorded.
Anytime you call Diamond they ask for your name and say “this call is being recorded, can I continue?” However, the most important discussion they have with you is NOT RECORDED.
In our case, we were promised something, questioned how it could happen and she
brought in three different people at different times and explained to them what she had
told us and they agreed that it was true. When we caught the lie on the contract it became
her word against ours. We were also told that it would take 10 days to get our information
into the system and then we would have access to our account. Of course, that was the rescission period. Once again another lie that a recording would have shown. Without a
cooling off period and a recording the consumer has no protection at all.
Excellent suggestion for recording the sales presentation! I always thought it was funny that they can record the closing process and yet they don’t want you recording the sales presentation. If you read Westgate’s responses on the BBB they always state they can not verify what was verbally said during the presentation. They could if they recorded that portion… they just don’t want to be cause it would not be to their advantage. The entire process is one sided, in favor of timeshares.
Any “business model” that requires psychological manipulation, outright lies and deception, predation upon millions of innocent, unsuspecting Americans by pressuring them, defrauding them of cash and liberty for something that the manipulator knows has no intrinsic value, and holding victims against their will is not a business model that should exist in a society that dare call itself “civilized.”
Agreed!!
Welcome to tiny bit of heaven on earth, how many weeks a year do you spend vacationing, I can see your beautiful wife and children enjoying the local hospitality, you deserve this opportunity, the offer is only valid for today as my boss has authorized me to give you a super deal but tomorrow it will cost you much more for the same thing you can get today Flattery will get you everything but add these High pressure sales pitches with nothing being what it has been sold as sucks people into a life of financial problems.
Adding a 24 hour cooling off period would definitely assist consumers escape the pressure cooker as its happening. People could then do some research and better understand the scams. Many people feel trapped due to being in a strange environment with little to no support for their timeshare questions. They trust the salesperson who has befriended them using a weakness which is often a fatal financial move. 24 hours would permit the potential consumer the opportunity to discuss in private the opportunities and later agree or decline the offer. Had we had this we woukd have declined because all that was sold was a lie dressed up as a spectacular package
Timeshare packages are often akin to dried animal droppings that have been spray-painted with metallic gold Rustoleum and sold as “gold nuggets.”
I was told this was an investment and I was told I could not cancel but I later found out that I had 10 days. Very deceptive practices. I support this measure 100%.
24 hours is a good START. Much more needs to be done – as mentioned above. Timeshare is a “sold” product rather than a “purchased” product. The consumer has little protection regarding this perpetual product. Easy to get in – hard to get out. That’s why there are so many exit companies advertising. Many in this country don’t know that Spain (the European vacation mecca) has a 14 day cooling off period where the customer cannot give a deposit to the timeshare company. He has 2 weeks to consider the sale. Why not here? And, recording the sales presentation – and giving a copy to the buyer – why not?
A cooling-off period would be far more useful and beneficial to consumers than the right of rescission is. The fact that timeshare sellers rely on right of rescission and oppose cooling-off periods is ample evidence of this. In the case of typical timeshare presentations, it is hard to exercise the right of rescission because the buyer is still on vacation during the allotted time, making it difficult to do subsequent research and file the rescission request properly, and giving the seller an avenue to deny rescission based upon a late or improper request.
Give the consumer a cooling-off period. If your transaction falls through, then the seller can always market the “investment” to somebody else from the hordes of people the seller told you would be eager to buy your timeshare.
I totally agree with a cooling-off period. There needs to be something to assist the consumer. High pressure sales should not even be allowed period.
There should definitely be a cooling off period. If you were to take out a loan at a bank you would have 3 days to except the terms. I have tried reading a complete contract at the desk of Quality control officer and back in my unit after signing. I could not get it done in 2 days and understand everything. Also have ask agent to go back over the contract and what we were buying before the rescind time was up. They make you wait till the last day.
I totally agree with this. Give people a REAL chance to think about what’s going to happen. I feel that some people feel pressured into signing for a timeshare. Bullies!
Would a fisherman give the fish a chance to get off the hook? That is why timeshare “vacation clubs” don’t want to give you time to think about the trap you’re about to be in.
As a former timeshare sales and marketing rep, I can understand both sides. Consumers are “coerced” into purchasing that day with extra gifts, price reductions, and other incentives. Unfortunately, they later discover that what was promised by the salesperson, licensed or not, is not written in the contract or in any of the timeshare documents or website.
Yes, there should be a cooling off period. The reality here is that it would put the timeshare industry out of business. The adage “out of sight, out of mind,” is true and most guests, if any, will not return in 24 hours to purchase. There goes the timeshare industry.
I always sold with integrity and was a very successful salesperson. I informed my guests what a timeshare will and will not do. Sadly, there was increasing pressure from management to lie, particularly to those who were not doing as well as I. I was fired from my first timeshare resort because I would not lie, or as they put it, “you’re not a team player.”
Consumers do not trust the industry, and this is the mess that the timeshare industry has brought upon themselves. If they were to keep their promises and operate with full integrity, I believe that they will do well moving forward.
At this point, they are doing all they can to stay afloat, including coercing legislators to help them save this sinking ship by passing laws to protect the industry, not the consumer. This represents nothing more than timeshare developers and legislators who are cowards and bullies with very very poor sales skills. They lie because they cannot sell.
If they give their owners and members what they promise, the industry will save itself. If they focused on excellence in customer service, the industry would save itself. People would recommend it to their friends and relatives and corporations could use it for their employees and clients.
I love timeshare. Give me a decent resort and my own sales team with a contract that represents integrity and is fair for the consumer, and I will show you how it’s done.
//The reality here is that it would put the timeshare industry out of business.// and //they are doing all they can to stay afloat, i// Scams SHOULD and MUST be put out of business and sink. If they want to sell a product, then have a worthy product, remove the lies, deception, fraud, strong arming, sleight of hand, etc. Then they won’t have to worry about going out of business.
I think the 24 hour cool now appears an excellent idea for a perspective Time share owner. It’s 24 hour cool not here we give a perspective a perspective owner time to really process And take time to understand the financial obligation. It would give them time to make a A form decision without someone pressuring them by using Selling techniques that are too good to be true. Also if the prospected buyer is married the contract should not be legal unless both partners agree to the agree to the purchase and both partners sign the contract. I am retired veteran work for the armed forces. My husband and I have purchased a time share property in 2003 and we really used it. I yeah I vacation doing a Christmas holiday and get caught up in the emotions of the family being together and it was a large group that I decided to upgrade against my husband’s wishes. To say the least I start having via remorse and when I called to see if I could cancel the timeshare time share I was told that I was 2 days late and it was nothing that I could do . Again I think the 24 I was cool now. Is an excellent idea. It would give the buyer or the buyer’s time to make a informed decision and they wouldn’t feel pressured And this makes good legal sense.
The timeshare industry manipulates and deceives the consumer. A cooling off period is just a start to a “best practice.”
There definite needs to be a cooling off period. Sales tactics are so abusive and aggressive that you end up agreeing just to stop the pressure. This is an essential first step to reform this industry. Sales tactics are criminal and filled with fraud and lies.
In 2019 we went on a vacation in VA and bought US Collection 7500 bi-annual Leisure points.
Diamond told us that we were entitled to a 3 night vacation. We attended the presentation on January 30th at Mystic Dunes. The sales agent advised me that she had not heard of Leisure points in a long time. She said that after I paid off my loan, Diamond would come after me for all of the interest because my contract does not say “45 days no prepayment penalty at any time.” She printed out two pages of our 139 page contract.
I asked about Transitions. She said Hilton does not have to honor Transitions. She called over a specialist from a department that could speak about Transitions because she said she was not allowed to speak about any “no-sale” topic since she was a real estate agent in sales. All of them gave contradictory information.
She kept saying I needed to hire a lawyer to get out of Diamond OR I could buy into HGV. Once HGV wrote this up I could wait until the buy-in price increased and then ask HGV for a first right of refusal. If not I would have to go onto Facebook and sell my points to HGV and Diamond members.
After 5 hours of hassling by the sales agents. I bought another 7,500 annual points on January 30, 2022. I had said no so they brought in someone else. He said this “$997 down payment is the cheapest product I could buy to get a certificate to get into HGV Max. They said I had to get into HGV to be able to rent or sell the product properly. They said the Leisure points were limited and if we wanted to sell out points I wouldn’t have to pay my maintenance fees because I could rent or sell the Getaway points on Koala or another platform. She said we can’t run a business but we could sell it legally. She said if I have to pay my maintenance fees every year it is, “Shame on me.”
I called a Diamond representative. He said to send a recession request by certified letter and to also email financialserviceshelp@hgv.com
This was the most predatory and deceptive experience of my life. I kept telling them I could not pay the down payment and the monthly payment. The agent said, “You can put it on your four credit cards. I had a woman that charged it to 7 cards.
This experience was pathetic. I have not slept since this happened.
This type of predatory behavior is not acceptable and needs to be stopped; it is destroying families finances and overall happiness.
Predatory sales practices by timeshare companies has been abundantly documented by many who have been manipulated, lied to, and pressured under stressful conditions to do something they would not otherwise have agreed to do. My family and I went through just such an experience – the lies were blatant and it took hours to get my license back to leave. Knowing what I know now, I would have called 911 and requested police assistance (of course, knowing what I know now, I would never ever attend such a sales presentation to begin with). YES, a cooling off period (72 hours actually makes more sense to have time to really take in what happened and to research) is fully justified for a contract with such life altering consequences.
This is long overdue and I suppoort this 100%! Get it done Florida!
Consumers need protection from manipulative timeshare sales practices. At a minimum, a cooling off period / recision period upon signing a contract would make the transaction more equitable. Many timeshare sales tactics are coercive & intimidating, involving holding a clients credit card &/or ID until client yields to pressure. “Gang” sales pressure.
There absolutely needs to be a cooling off period for Timeshare purchases. High pressure sales tactics often make people buy and then regret it when it’s too late.
I have been in talks with consumer legal representatives and discovered that it is perfectly legal for the timeshare/vacation club sales reps to lie through their teeth to make a sale. Not only that, oftentimes salespeople are contractors with the timeshare and not employees. This helps timeshares claim that salespeople are not their employees and are not responsible for what lies they told you. And, the sales presentations are unregulated for a reason; however, the CONTRACT signing is intended to be as airtight as possible. As Admiral Ackbar so wisely noted, IT’S A TRAP! CAVEAT EMPTOR. RUN!!!!
I have been battling Diamond Resorts since 2017 after being promised earning potential by buying Diamond points. In November 2021, an executive told me she had handled my resolution (it is still unresolved). Unfortunately, the nightmare has started over again. Timeshare needs to change and a 24 hour “walk-away and think” period is essential.
I own a timeshare in Canada (Carriage Hills) where we are in the final stages of liquidation. Hundreds of owners tried for years to exit without success leaving many (especially older people) incurring debt they couldn’t afford to pay on continually escalating maintenance fees for a timeshare they didn’t want or use anymore. The worst part – we all realized there was one little sentence in the deed that said “in perpetuity” – the words that the sales agent never bothered to explain. It meant that even after you died the ownership passed on to your heirs so that fees had to continue to be paid by them forever – there was no way out! Owners even tried to give their timeshare away but nobody wanted it. After 2 years of fighting a huge uphill battle, the owners won and got the resort declared insolvent. It was put up for sale – Wyndham got rich and owners just got a way out of having to pay forever. I believe not only should there be a 24 hour cooling off period, but also it should be mandatory that any essential and important clauses like that should be on the first page of the document and completely explained to the buyer – full and open disclosure.
Excellent suggestion VB. Right now the whole process is one sided, in favor of the timeshare. There is very little in place to protect the purchaser and that is obvious by the number of owners unable to do the “responsible” exit.
A cooling off period of at least 24hrs (without follow-up calls from the agent) is a must! In the presentation, one has NO WAY TO TEST the statements of the agent and horde of other supporting cast in the sales presentation, so time after is needed to do that research and thinking.
I own in two different brands and have been to at least 12 presentations. About 5 of 12 were honest and straightforward presentations but probably 7 of 12 were not, and two were egregiously fraudulent. A 48 hour cooling off period in addition to a 10 day mandatory rescission period would be best. A longer rescission period would be more beneficial than a 24-48-72 hour wait before signing.
I think a 168-business-hour “cooling off period” is best, along with 180 day business day recission period.
Having a 24-hour minimum cooling off period is essential to the consumer. It will allow us time to assess and examine the offer before acceptance is given. I would urge legislators in all states to formulate simple and concise common language in order to protect the consumer from potential financial and emotional distress.
The 24 hour “cooling off” may be viewed as a trapper opening the trap door to see if prey chooses to remain trapped or to run. Naturally, prey will want to RUN. Scammer predators won’t take kindly to this idea, and when the scammers pay government officials to look the other way, don’t expect your government to be willing to protect you and give you that chance to escape the trap. We the people must STAND UP for ourselves and for what is right. Does your government work for YOU? If not, vote them OUT!
I think that integrating this type of consumer protection into law is an excellent idea. More often than not, people are strong armed and pressured by timeshare presentations while on vacation. They are caught in a vulnerable situation as they want quality time with their families, and are presented with false hopes of bigger and better vacations, wanting to please their family, not taking in account the financial drain and emotional stress that could come from a quick decision. A cooling off period before signing a contract for a timeshare should be required in all states. Thank you Florida legislators for taking the lead to protect consumers. Personally, I feel it should be extended from 24 to 72 hours to allow a person to do some research on the company they are doing business with before entering a contract with them.
A – 24 hour “cooling off” would have sure helped me do – what every consumer who currently feels like a naive fool (yes like me) – conduct diligent research on whether or not this is a good think to do. Actually, no business should ever even consider or be allowed to insist on an immediate decision. The only more obvious sign of a business that we should have run away from is if they had “carney hawkers” or someone with a box set up playing a shell game.
Timeshare companies don’t want you to take the contract to a consumer protection attorney for a reason. When I showed the contract to my attorney, he advised NOBODY should ever sign it based on what’s written in it. It’s a trap!
I agree with the 24 hours cool off.
It give customer a change to think about the tours ,instead of being pressure to buy.
I agree on the 24 hours cool off.
This high break from the pressure of agents who are in depress to sell.and save the costume from buying under pressure.
Yes I completely agree with the COOLING OFF PERIOD. If they’ve had this in Vegas i would have NEVER signed. I would have had more time to research and call family and friends asking them information on their experience. Unfortunately not being able to COOL OFF after being bombarded aggressively by multiple hustlers. Not giving me a chance or my children a chance to think straight. After hours of being pressured and hungry tired and exhausted and your children are ready to leave. You tell the sales person no no no you’re not interested. Then she gets her partner and now you have multiple people telling you HURRY AND BUY…WE’LL DROP THE PRICE….after so many NO’s i just gave in. Then they lied saying my children had to sign and it wouldn’t effect their credit of future decisions if they wanted to purchase a home. They were only signing so if they wanted to travel without me,they didn’t need me to use the Timeshare. This too is a lie my son credit has been affected and my daughter who 20 in college is so overwhelmed because she’s scared this will affect her getting assistance with college. This’s situation is so so overwhelming it’s nights I’ve cried myself to sleep because of the not knowing you’ve basically signed your life over to the Timeshare Devil. Imagine your daughter sitting beside your bed crying pulling up horror stories about people experiences with timeshare companies….and it’s nothing I can do. These Timeshare Devils are liars please don’t fall victim to them RUN.
I agree with this 💯. The pressure and unethical sales tactics these companies use is very overwhelming so it would be nice to be able to review everything before deciding. I wish they had this before I signed mine. If they did, I would have never done it. Timeshares are NOT a good investment. I hope other states take on this legislation as well.
A huge problem is that timeshares pull in billions of dollars of victim money through scams, and when timeshare developers pay off lawmakers, then the fox is defending the henhouse, and we are screwed. The best bet is for EVERYBODY to assume that everybody is lying to you: timeshare companies, sales people, etc. Just assume they are lying (because chances are high they are lying), and then walk away. If you are still interested in the “product” later, then do research before contacting them back again. If they say “This is one day only sale” understand that is a pressure lie to get you trapped, and walk away. https://floridapolitics.com/archives/292020-with-timeshare-bill-losing-steam-should-lawmakers-look-at-addressing-timeshare-sales-tactics/
It is so sad, I used to be a very positive and TRUSTING person but our experience has left me suspicious of everyone! Specifically everyone I come into contact with in the Timeshare Industry- ARDA, BBB, Attorney Generals. Vacations will never be the same for me😩
A consumer protection attorney told me, “You are a nice person, but when you’re dealing with scammers, you have to be an ah and walk out.” I never want to be an ah, but I tell ya, whenever anybody ever tries to put the scammy pressure on me EVER again, I will absolutely become TAH, for the liar scammer shall have earned the wrath. Everybody, let’s do this together. Crooks cannot stand up against millions of us.
A minimum of 24 hours is exactly what is required – this will defuse the pressure tactics employed by these companies at the time, and give an opportunity for some rational thought from individuals after being overloaded by the sales people for 2-5 hours. The recission period is a massive issue as it is never laid out in the presentation and they rush past it when the contracts are presented and when reality sinks in and you can actually do a deep dive on what you can/cannot do with points, it is too late. Currently dealing with Bluegreen Vacations who are an absolute nightmare – exclusive vacation homes = no, you are just another timeshare company.
To everybody on here, listen to this truth well: The timeshare salespersons are NOT under any legal obligation to tell you the truth at any time. Their only goals are to (1) Get you to sign an airtight contract asap and (2) start sucking up your hard-earned money. This is tailored to be to their advantage even to your potential detriment.
I totally agree when you are faced with timeshare employee’s unethical sales tactics of pressuring you to make this purchase or lose the opportunity to buy property. A 24-hour decision making period would have made a difference in my decision to be forced to purchase a property that I never used. Timeshare is a trap for all who purchased their property.
The cooling off period is an excellent idea. Give the people time to read and review before they sign a contract. There is so much pressure from many sales people. At least 4 or 5 putting pressure on for you to sign
Check out Florida State Sen. Travis Hutson and State Rep. Wyman Duggan’s bills 1430 and 435 respectively. Demand to know how much timeshare industries are paying them to introduce bills that will make it even WORSE for timeshare victims. People, when you vote for crooks, you get a crooked government that works against you!
I agree with the proposed coming off period. It will save many people much regret.
I agree with this proposal.
I definitely agree with this proposal.
Please understand that crooked lawmakers are paid to legislate in the best interest of scammers that pay them, not for you, so don’t hold your breath thinking your legislature – republican or democrat – cares about you. We the people need to take our country back. If you keep voting for crooks, you will keep getting a crooked government that will keep voting against the best interest for you and your family.
I most definitely agree that there needs to be a cooling off period. We bought in 2018 in Orlando. This year we were in Myrtle Beach in February & were talked into “upgrading” from a 2 bedroom every 2nd year at any time of the year to 4 weeks that can only be taken in January or February. We were assured that we could exchange those weeks for another time at a small cost. That “small” cost turns out to be $2700 per week. Plus with each reservation there is a $70 lock off fee. I guess it costs $70 to lock a door??? We were also told we could deposit with with Interval & go anytime. Not true! To get this “deal” we had to sign over our Orlando timeshare & add $6000. We rejected their offers 4 or 5 times but then they would go away supposedly to finalize the paperwork for our “prize” but then they would come back and “sweeten” the offer until we finally caved & signed. It did not take us very long to figure out that they got the better deal but we had signed & didn’t know about the 10 day chance to change our minds. When we originally bought in Orlando we asked for time to think it over but we were told the deal would not be there if we didn’t take it right away. A cooling off period certainly would have been appreciated. In hindsight we should have just walked away both times.
This is a great idea but the period needs to be much longer. These sales presentations are while you are on vacation. You should not have to take another day of your vacation to research. You should have 10 days from the day you sign to rescind your purchase. If there is nothing to hide and everything is above board, this 10 day window should not be an issue. These presentations should be recorded and oral statements by the sales agent should be enforceable as what you are told influences you decision to buy or not buy.
IF timeshares were indeed such a great deal for the consumer, the sellers should have no problem with a cooling off period. Therefore, I believe consumers should have the state assisting the an expensive heavy-handed transaction by a MANDATORY 7 day cooling off period! No downside for the sellers if what they are pushing is, indeed true!