It is only after you have survived the first 60 minutes that your sales rep will talk about the timeshare model and the costs. The manager comes along at some point.
The model that is being spruiked is that you are purchasing a partial ownership in a timeshare property, and that entitles you to a certain number of annual points which can be then used to stay in that property, other properties in the Ultiqa group, or entered into an exchange mechanism whereby these points can be used at other timeshare properties or holidays (cruises mainly) around the world.
Sounds good doesn’t it!
Of course there is an annual “maintenance fee”, and if you don’t use your points within a certain timeframe they expire.
Your rep will give you give you a woolly indication of the maintenance fee, but ours dodged the question of what the maximum liability could be. RED FLAG.
Just remember, you have been dragged off the street to buy part of a real property. This is only revealed after 60 minutes of your personally tailored presentation.
Why would you trust anyone, or any organisation who is not prepared to be upfront from the word go? RED FLAG
Why would you trust a business which operates a continuous model which includes a “Good Night, Irene” clause; ie if you don’t sign up today you can never be offered this “opportunity” again. RED FLAG
Three Red Flags are enough for this post. More to follow. I’ll provide some information about some brushes that Ultiqa’s previous incantation (“The Holiday Club”) have had with the Law, Timeshare Company ethics, Cooling Off periods, Secondary market sales and whatever else crosses my desk on this matter.
The simple fact of the matter is that your initial purchase is overpriced and almost unsaleable if you want to get out of it. You will be liable for the annual fees while your ownership remains. You cannot walk away from it. Many timeshare owners try to exit the property by giving it away for free. The annual burden of fees remains until, or if, someone else accepts transfer.
At Ultiqa, the price for the real property you are purchasing, also includes paying for the touts on the street, the commision for the salesperson, the commision for the salesperson’s manager, the office staff, and the Developer’s markup on property sales. Great value. Lots of people get to clip the ticket before it gets to you.
ultiqa 