Your parents are eyeing a Florida timeshare. You’re worried it’s a scam. Are you right to be concerned?

You’re not alone. Timeshares have been a source of buyer regret for decades, often tied to pushy sales tactics and fine print fees that never go away. If your parents are considering one, here’s what you – and they – need to know to make a smart, pressure-free decision.

 

The Pressure Cooker: How Timeshare Sales Really Work

Timeshare presentations are notorious for their high-pressure environment. The goal? Get you to buy now.

 

Sales reps often offer freebies like free dinners or vacation tickets just to get people in the room, then pile on urgency:

  • “This deal expires today!”
  • “You’ll miss out on this exclusive unit!”
  • “You’ll never find a better price!”

The reality is, the same units are often available cheaper on the resale market. In fact, some timeshare owners are so eager to get rid of their annual fees that they’re willing to give away their contracts for free.

 

That’s right, you can literally find timeshares online for $0, if you're willing to take on the annual dues. The key difference is you won't be buying from a slick sales presentation, you'll be buying from someone who wants out.

Timeshares have been a source of buyer regret for decades, often tied to pushy sales tactics and fine print fees that never go away. (iStock)

Know Before You Sign: The Cooling Off Period That Could Save You

Let’s say your parents get caught up in the moment and sign anyway. All may not be lost.

 

Under federal law, buyers are granted a three-day “cooling off” period, which gives them the right to cancel and get their money back with no strings attached. And in Florida? That cancellation window is even longer: 10 calendar days from the date of signing or receiving the public offering statement (whichever is later).

 

But there's a big catch: They must follow the exact cancellation procedure outlined in the contract. Miss a step, or miss the deadline, and they could be stuck paying maintenance fees indefinitely.

 

So, before your parents hand over their credit card, encourage them to:

  • Read the contract completely
  • Look specifically for the cancellation section
  • Sleep on the decision, even if the pressure is high

When “Free” Isn’t Free: Understanding Long-Term Costs

Even if the initial price seems like a steal (or is literally free) timeshares come with ongoing financial obligations. These include:

  • Annual maintenance fees that increase over time
  • Property taxes
  • Special assessments for renovations or damages

These fees don’t disappear, even if you never use the property. And offloading a timeshare later can be surprisingly difficult. That’s why some people find themselves stuck, paying hundreds – or even thousands – of dollars per year for something they no longer want or use.

Some people find themselves stuck paying for timeshares they no longer want or use. (iStock)

Final Takeaways: Empower, Don’t Panic

It’s not that timeshares are always a scam. Some people genuinely enjoy the convenience and structure they offer. But the decision should never be made under pressure, and it definitely shouldn’t be made without understanding the financial commitments involved.

 

Here’s how to help your parents stay safe:

  • Encourage them to explore the resale market first
  • Remind them of their cancellation rights
  • Warn them to never sign on the spot
  • Point them toward consumer watchdogs like the BBB or your state attorney general’s office if something feels off

Stay smart. Stay skeptical. And never sign anything you don’t fully understand.