There are laws that assist the purchaser with this. The laws may be specific to the state you reside, not the timeshare. For instance, I live in NY, and both of my purchases were only allowed because the units I purchased were already available. Otherwise, the salespeople said I would not have been able to complete the purchase, only the down payment.My concern now is that the economy is so bad. Sales staff is being reduced and if sales continue to falter (as you would expect in a bad economy with a luxury purchase), I could see developers slowing down the construction. I'd be very nervous about a 1 year anticipated opening getting stretched out to 3 years. And they would expect you to keep paying during that period.
That is correct. My sister and I purchased an Aruba and got usage two years ahead of our closing date. Also purchased points for the 1 st year where there was no usage. MF were paid each year from the beginning but closing didn't occur for 2 years. This is only NY residents. Not sure it is the same anymore.For NY residents at least, there is another interesting twist: since NY law requires a CO before closing, NY residents can purchase at pre-construction prices but don't actually pay until the resort is open. If I am not mistaken, however, they can pay the MF's for points in the interim.