We bought a timeshare from Orange Lake Country Club, Inc.in late Dec. while vacationing in Orlando, Florida. It was not until we returned to our home that we found out many facts concerning the timeshare purchase had been left out or misrepresented. We were given a copy of most of their document on a CD-Rom, which we did not have opportunity to read until we returned home from vacation and had an access to a computer by then.
After going through the contract and documentation stored in the CD-Rom, we found out that there were many unexpected fees in using the timeshare. Searching the Internet for the market value of timeshares, we surprisingly got to know that timeshare is not a real estate investment, which is totally opposite to what the salesperson (Mr. Hicham Labiad) told us.By the time we fully understood what the Timeshare really was, our 10 days rescission period (which we knew nothing about at the time we signed the contract) had expired. Nobody at the sales presentation ever mentioned it to us. There is no doubt the salesperson intentionally misrepresented the timeshare as a real estate investment. We were not informated fees associated with the purchase, the costs of making reservations, cancellation of reservations, split week reservation, exchange fees and condo cleaning fees. We were also told we could refinance the timeshare and get a lower interest rate from our bank and we could use the timeshare purchase as a tax write-off. We were told we could rent our unit to make profit or make up for the maintenance fees. We were misled to believe that the sale was final; that our points would never expire, roll-over points could be used without restriction... The sales person also told our (twenty-four-year-old) daughter on the sales tour that she could bring her little dog with her for vacation in OLR. How wonderful that was!!! The salesperosn just lied, lied... If we had known the truth about the timeshare, we would not have signed the purchase agreement. Justice should be done!!!
Please be aware the sales pitch at Orange Lake Resort!!!
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