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    John

    Nice article – again. For the 20 year owner who wants to move on – there just isn’t a resale market. But he had his day in the sun and should consider his costs as amortized. His investment ended up being in vacations rather than real estate. He got something for his money.

    For the newer purchasers, there should be some solutions. First, a requirement for income verification. We have income verification for car loans – why not for timeshare purchases. Second – a 10 day right of rescission. It is available in Florida, but not many other states. That gives a vacationer the chance and the responsibility to review his purchase details. And third – technology gives us the capability to record the complete sales presentation on a memory stick so the buyer has a record of the verbal promises made. If there is a future “misunderstanding,” the buyer has a record of why he feels disappointed. It would “clean up” the sales process so that fewer empty promises are made.

    I’m not sure that the “heat merchants” would approve, but it would be a solution to the problem.

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