My wife and I were in Las Vegas in 2009 when we were invited to sit in at a 90-minute vacation presentation. We were offered tickets to see a Las Vegas styled show in return for our presence at this presentation. Since we were short of money and could not ordinarily afford a Las Vegas Style Show, we accepted.
The salesperson, Joan Jacobson told us that a timeshare was just like any other piece of real estate; we would get a deed and could sell, rent or give away. She said our special price was only about $13,000 instead of $30,000, and was a good investment because our timeshare investment could value as much as twice the present value in a few short years. We understood the concept of real estate so we believed her.
We told her we might not be able to afford the timeshare, based on our salary. She said there would be no credit check and we should not worry because Grandview has a plan in which we could rent our unused timeshare for the cost of what it would be to purchase. This cost would be enough to pay for our maintenance fees and pay our monthly payments.
The timeshare is now 4 months in arrears and Grandview told us they could not get it rented. We were misinformed by Grandview and Joan Jacobson, their salesperson who assured us they would rent the unit and we would not have to worry about the payments. Grandview lied to us by letting us believe our time share was an investment and could pay for itself. If we knew they would not rent unit we would not have bought it.
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