Do Your Taxes the Sellung Way. Find a Tax Pro. Whatever your reason for selling, we want to help you. To start with, dig your original contract—and any other paperwork about the timeshare—out of your files to see exactly what you signed way back. Even maie it says you have a deed, a lot of times these deeds will be held by the resort or at a trust company rather than given to you as the owner of the timeshare. Determine what type of access arrangement you have to the property. Do you have a fixed week during the year, a floating week during a certain period, a time each year based on a points system, or some type of combination? Maybe when you bought the timeshare you had a specific ,ake you visited each year. Then after a few years you took an offer from the resort to accumulate points instead of reserve a certain week for your vacation.
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If you are headed for a popular resort on vacation this summer, chances are you will encounter an attractive and aggressively friendly young man or woman who offers you a free gift or meal that has just one tiny string attached. What could be the harm? After several hours of intense pressure, you might emerge as the new owner of a timeshare, and just like someone who wakes up after a bender with a new tattoo, have no idea why you agreed to it. Rick Pons understands. Pons says he was recruited into timeshare sales in in Cancun, Mexico — a competitive venue for the timeshare business. His book recounts his experiences as he got deeper into the business, until he finally became disillusioned and quit. Pon describes the timeshare sale as an emotional process in which the sales team works hard to get the prospect — usually a couple — to like and trust them. If you have to lie to build the right rapport, well — you lie. In his book Pon diagrams a typical hard-sell timeshare operation. The information is passed along up the ladder to other team members until it reaches the closer.
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This is where the rubber meets the road. Pons says very often a couple will establish good rapport with the first members of the sales team but will abruptly sour on the individual doing the close. Pon makes clear that he is not painting all timeshare operators with the same brush. While owning a timeshare probably makes no sense for the vast majority of people who end up buying one, Pons insists there are people for whom they do make sense. The bad ones, he says, will lie — about almost everything. Pons says they even lie about whether or not they are a timeshare, which he says has now become such a loaded term that no one likes to use it anymore. Instead, they may be called «vacation clubs,» «all inclusive clubs» or «fractional ownership clubs.
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