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Consumers may face maintenance fees, taxes and other assessments every year.An estimate of the total maintenance fees in the first year as well as the total maintenance fees charged over the past three years, if available.An estimate of the total costs in the first year.The new version, which passed the committee 7-0, would require timeshare companies to state in clear writing: A clear, written estimate of total costs over five, 10, 20 and 30 years.One business day to consider an offer before signing.Michelle Ugenti-Rita, R-Scottsdale, stripped two of the original protections, which would have given consumers: House Bill 2639 passed unanimously in the House but ran into opposition in the Senate. "There are a lot of individuals who are stuck, and there are a lot of predatory companies out there." You couldn't sell it back even through the timeshare presentation made it sound like it would be easy," she said.
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The attorney general "receives several hundred complaints to their office every single year regarding timeshares."īolick said she and her husband didn't receive a full contract to look over before buying a timeshare years ago and were shocked when annual fees kept rising. There is a "need for more disclosure in timeshare contracts," sponsor Arizona state Rep. Stories like the Lusks' have motivated some state lawmakers, with support from Arizona Attorney General Mark Brnovich, to push a bill to increase timeshare transparency and allow consumers more time to back out. Timeshare companies and consumer advocates warn that some exit companies charge excessively high fees or are scams themselves.ĭiamond Resorts "strongly encourages our members to reach out to Diamond directly should they be contacted by a third-party company making claims to 'transfer' or 'exit' their timeshare," Miller said. "Diamond Resorts does not work with or affiliate with these fraudulent companies." Efforts to protect buyers "The timeshare industry are big bullies," Reed said. His main goal is preventing resorts from locking people into lifetime contracts. Reed recently founded a group called Coalition to Reform Timeshare that advocates for tighter regulations. Instead of a relaxing dinner, they were ushered into a meeting with a salesman.
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When the Lusks took the most recent cruise in September, Diamond Resorts promised a special reception on a private island, they said. In 2017, Diamond Resorts agreed to reform sales practices, pay a large fine and cancel dozens of contracts in a deceptive-practices case with the Arizona Attorney General's Office.ĭiamond Resorts believes in "transparency and accountability," spokesman Bruce Miller said in a written statement, while declining to comment on the Lusks' case. "We strive to provide excellent customer service and a transparent sales process at all times." "We've enjoyed the timeshares," Betty said.īut the Lusks said Diamond Resorts lied to them in a September 2018 sales presentation and used hardball tactics that echo prior complaints from consumers, such as not adequately explaining all the costs of the timeshare and failing to honor their request to cancel the agreement within the legal time frame. Many of the contracts were affordable and straightforward, they said.īy last year, all were paid off except one with Diamond Resorts worth more than $50,000, they said. The Lusks have used timeshares for years to visit Scotland, Florida, Alaska, Hawaii and the Caribbean and have given trips to their children. She's gone to the hospital several times, she said. "It was the dumbest thing we ever did."ĭesperate for a way out, they agreed to an exit company's hefty fees to try to negotiate an end to the contract.īetty, an 88-year-old former librarian, has had insomnia and fainting spells from the stress. "They called it a dream holiday. Actually, it was a nightmare," said Frank, 89, who was a music professor. They borrowed against their West Valley retirement home to pay for it, the Lusks said. Retired Christian missionaries Frank and Betty Lusk had no intention of buying another timeshare while on a Caribbean cruise last year.īut by the time the trip was over, a charming Diamond Resorts salesman had convinced them to buy a $150,000 timeshare with roughly $8,000 in annual fees. The story and photo captions also misstated the annual fees for the $150,000 timeshare.
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View Gallery: Arizona couple feels pressured to buy $150,000 timeshareĬorrections & Clarifications: A previous version of this article misspelled Shawnna Bolick's name.