In addition to the countless other reasons not to purchase a timeshare at a presentation, we’ve been alerted to something new. Apparently, purchasing a timeshare at a presentation completely negates your ownership right to whatever gift you’re to be given for attending.
If you decide to cancel the timeshare purchase during your right of rescission (generally within 5 days), you must pay the resort back for the retail cost of the freebie. If you get the freebie and do not buy however, you will be held to no such provision.
In plain English, the main reason for attending the presentation is given up if you decide to purchase. Of course in the excitement of the happy salesman bringing out the champagne the buyer rarely reads contractual fine print, but this may serve as a good excuse not to buy in the first place. Tell the salesman you’re concerned about the provision that obligates you to pay for the freebie if you cancel, and say you’d prefer to take your gift now, and may consider buying at a later time.
Of course, if you’ve already bought - the cost of the freebie should not stop you from cancelling your purchase. $100 is a lot less than a wasted $4,000+.
