AmbergrisCaye.com Home Forums The Cayes Ambergris Caye Timeshare sales

Excuse me for butting in here, but after reading all this I am concerned that last year I purchased a 99 year timeshare contract. I paid just under $9000 cash for the transaction, my maintanace fees are $395 yearly. It is a bi-yearly contract.

I have never owned a timeshare nor did I know anything about them. I just loved AC and SP so much I wanted a connection. I reason to always come again. Did I get taken?

I'm looking at condo/appt @ Village Reef now.

Can you help guide me?

Larry, we all have made that mistake before, whether it was a time share or a new car, where the sales person decides to be as much as an __hole as possible. Congrats on sticking to your guns and getting out of there as soon as you could.
Bywarren, you never did respond to Jeff's message about sales techniques. All you did was recite a Nevada law that was enacted in order to address the unethical, sleazy sales techniques described by Jeff. The situation that Larry faced is still very much in use and threatens to ruin many vacations which are paid for by honest people with hard-earned money. I don't see how anyone can justify that type of practice.

Larry, if we ever run into you in SP, I'll buy you a drink of your choice, no strings attached.

I am starting to see things that disturb me on this board. Timeshare vampires, muggings, people who want to know if they can get their own brand of foo foo booze in SP, and even Belikin in plastic bottles. Will I have to bring hard shoes and a tie on my next trip?

I responded to Jeff's comment that he was unaware of any timeshare sales that had a right of recision. I am opposed to many of the unscrupulous sales techniques used in that industry and am especially disheartend by some that have been used on AC. On the other hand, I have friends that have purchased timeshares and have been treated in an ethical way. I do not believe you can paint the whole industry with the same brush. The concept appeals to some, actually you could say many if you look at how much is being sold. I do not believe that everyone who purchased a timeshare was mislead or a victim.

Hey, I was an automobile dealer for over 30 years. I believe I treated people ethically and had many satisfied customers that returned. That is not to say others have not been treated differently by some in my business. I do not care if you are talking about car dealers, timeshare sales people, attorneys, preachers or any other profession, you cannot lump all into the same catogory.

And to shelley: if you were happy with the purchase when you bought it, you stand a good chance of being happy with it in the future. You bought a timeshare and time will tell. As long as Captain Morgans keeps the place nice and the fees remain resonable and you keep enjoying your week in Belize, you will be happy with your choice. Don't worry - be happy. Think positive and don't worry about the future for now.

Bywarren- We were treated very well by all @ CM. The people were as friendly a folk as I've ever met and had no reservations at the time. It sounds as though they might have had someone of lesser moral's selling at the time Larry was there. That is unfortunate.

As for the investment in a timeshare, what is your opinion?

From my experience, owning a timeshare can be worthwhile, but the decision to by needs to be well thought out and with eyes wide open. We've owned timeshares for about 10 years and have no complaints - the math has worked well for us, but that's not why we purchased. With that experience, here are my does and don'ts:

1. Never purchase from the developer. A huge portion of their price is commission and marketing costs. Anything being sold today by the developer will be available tomorrow on the resale market at a 50% discount.

2. Recognize that contrary to salespeople claims otherwise, timeshares really aren't real estate. Your purchase is not going to appreciate and buying a timeshare is not an investment in the traditional terms. They only make sense for someone that is committed to going on a vacation every year - to either the resort they purchase or to someplace they trade into through RCI or II.

3. Don't make a buy decision based on anticipated savings over a period of time. You've got to consider the original purchase a "sunk cost" that you're only going to recover (without interest) if/when you sell. Think of it as an investment in your sanity, rather than as a financial investment.

4. Understand that if you buy a timeshare outside of the US, you're probably not going to have the same protections we take for granted in the states. Poor or unethical management of the resort could put you at risk of paying special assessments or losing your ownership. Don't pay more than you're willing to lose.

5. Buy someplace that you want to visit repeatedly - don't expect to trade your week to another resort every year.

6. NEVER waste your time while on vacation attending a timeshare presentation - the offered prizes aren't worth your time and only a masochist enjoys the pressure exerted by the sales people. The timeshare presentation always takes longer than promised and the salesperson is pleasant only as long as he/she believes a sale is possible.

Timeshares aren't for everybody - and, maybe we've just been fortunate. But, contrary to my rule #3, our total cost over the past 10 years is about $140 per night for a 2 bed/2 bath beachfront condo - that's considering the purchase price and annual assessments, which are currently $600/year. So on one hand, Pedro is right - $30,000 per year per unit for assessments feels too high. But, on the other hand, we're spending $85/night for a place that goes for more than $200/night in comparable properties.

Bobber sez....
Larry, if we ever run into you in SP, I'll buy you a drink of your choice, no strings attached.

Why thank you Mr. Bobber. Very friendly of you. You don't represent Capt. Morgans, do you? If not, I'd be glad to buy you a couple, also.

Shelley, I think Skyliner answered you as good as I could. Like I said, think positive. You have invested, pre-paid or whatever you want to call it in a weeks vacation on AC. Look forward to enjoying that.

Skyliner said.....
6. NEVER waste your time while on vacation attending a timeshare presentation - the offered prizes aren't worth your time and only a masochist enjoys the pressure exerted by the sales people. The timeshare presentation always takes longer than promised and the salesperson is pleasant only as long as he/she believes a sale is possible.

The problem is, Skyliner, that they never let on they were trying to sell us anything until we were captive (kidnapped). We were VERY dissapointed wasting a day of vacation dealing with these scumbags. I know it was our fault, we were gullible and don't get out much to places like this.

It may be a good property, it may be a good deal, but it was misrepresented from the start. And who in there right mind makes a $20,000 decision without some thought? I didn't get my $2,500, didn't get any free meals, didn't get any free drinks, didn't enjoy the resort for the day, didn't get back in time to make our dive trip.

They kept not one promise that they made. Is this the kind of people you would make a long term investment with?

I wouldn't buy a two bedroom unit from them for $50. They'd probably have me hot bunking with the pool man.