As most of us know, buying from a developer will invariably lead to untold anxiety and sadness once you realize the enormity of your mistake. That is borne out by a recent TUG post (as one example of perhaps hundreds of thousands over the years):
tugbbs.com
It's all well and good that those who have spent thousands and thousands of hours on TUG have educated themselves on how to maneuver through the timeshare minefield through reading and writing tens of thousands of posts. Thereafter, of course, they can readily identify resale bargains. But please recognize that that great resale deal allowing you to save some amount of money on future vacations involves your standing on the smoldering carcass of others.
So the buyer in the above cited thread still owes $28,000. What if he just stops paying?
I would expect that he gets threatened with court action. What if he were to hire an attorney and threaten them back by complaining about (and the following is a partial list):
I was told maintenance fees would not go up. They have.
Or perhaps they failed to tell me about maintenance fees altogether such that I thought my tens of thousands in purchase price bought me a lifetime of vacations.
I was told that my winter vacation in "fill in the blank" could be easily traded for upscale resorts during February in Key West or Hawaii. Or Manhattan or Boston during the spring or summer. In actuality, all I've ever been offered in exchange are also winter weeks in places like rural Pennsylvania.
I was not allowed to leave the sales presentation as they kept bringing higher and higher level people to try to convince me that it made no sense that I would NOT choose to buy. That the deal was that good. That they would keep trying to educate me on how great the deal was because they truly would feel badly if my family were not able to enjoy all those future great vacations at such a low cost. I was made to feel so guilty, and I was so exhausted after six hours, I signed.
Like I said, that's just for starters. Perhaps others can add their own developer sales staff horror stories.
If it goes to trial (assuming the developer wants to take it that far), would any jury (or judge for that matter) NOT allow the victim (and he's truly and obviously a victim) to escape? Might he also countersue not only to rescind the contract, but also get money back that he already paid?
Has anyone just stopped paying? What were the implications?
HGV victim (!) needs opinion :(
Yes, I exactly feel like a victim of my ignorance. I had no idea about timeshares. Had never heard of them. I used a 3 day cheap hotel offer at a Hilton, attended a presentation, awed by the seller's logic, and signed a contract... I didn't even know what I was buying was a timeshare. It sounded...
tugbbs.com
It's all well and good that those who have spent thousands and thousands of hours on TUG have educated themselves on how to maneuver through the timeshare minefield through reading and writing tens of thousands of posts. Thereafter, of course, they can readily identify resale bargains. But please recognize that that great resale deal allowing you to save some amount of money on future vacations involves your standing on the smoldering carcass of others.
So the buyer in the above cited thread still owes $28,000. What if he just stops paying?
I would expect that he gets threatened with court action. What if he were to hire an attorney and threaten them back by complaining about (and the following is a partial list):
I was told maintenance fees would not go up. They have.
Or perhaps they failed to tell me about maintenance fees altogether such that I thought my tens of thousands in purchase price bought me a lifetime of vacations.
I was told that my winter vacation in "fill in the blank" could be easily traded for upscale resorts during February in Key West or Hawaii. Or Manhattan or Boston during the spring or summer. In actuality, all I've ever been offered in exchange are also winter weeks in places like rural Pennsylvania.
I was not allowed to leave the sales presentation as they kept bringing higher and higher level people to try to convince me that it made no sense that I would NOT choose to buy. That the deal was that good. That they would keep trying to educate me on how great the deal was because they truly would feel badly if my family were not able to enjoy all those future great vacations at such a low cost. I was made to feel so guilty, and I was so exhausted after six hours, I signed.
Like I said, that's just for starters. Perhaps others can add their own developer sales staff horror stories.
If it goes to trial (assuming the developer wants to take it that far), would any jury (or judge for that matter) NOT allow the victim (and he's truly and obviously a victim) to escape? Might he also countersue not only to rescind the contract, but also get money back that he already paid?
Has anyone just stopped paying? What were the implications?
