Timeshares FAQ

Questions:

• We just returned from Hawaii, where we were constantly solicited to buy a timeshare. Are these deals as good as they sound?
• What does a timeshare sales pitch usually involve?
• I've been told that I shouldn't by a timeshare because it will be hard to sell it later. Is this true?
• Is it possible to get out of a timeshare after signing a contract?
• Can I sue the timeshare operator if I'm the victim of a timeshare scam?

Answer:

Is it possible to get out of a timeshare after signing a contract?

Maybe. Most states have "cooling-off" laws; these let you get out of a timeshare contract if you act within a few days after signing (usually within three to ten days, depending on the state). If there is no cooling-off period, or if you change your mind after the time has passed, your only recourse may be a formal lawsuit. Timeshare sellers are accustomed to handling claims from unhappy buyers and are unlikely to refund your money unless they're forced to do so. However, lawsuits can be expensive -- you may be out of pocket even if you win.