I’ve previously written about the pending legislation in both Florida and Arizona. In the case of the pending legislation in Arizona, I’ve quoted Don Issacson who is a lobbyist for ARDA as saying, “The state should not step in to protect people who didn’t bother to understand the nature of the deal.” He continued, “You are buying real estate, you are buying it as an adult. You read the documents and unless there is fraud, you are bound to that particular purchase.”
I’d love to hear what Mr Issacson has to say about this encounter with a sales agent:
“Sales agent Eric told us that we were buying points at a low rate, less than $4 per point, and that “at this price the point value can only go up.” We could sell some points at a profit and keep the original base points for travel. Ultimately getting our entire purchase for free, he called it a “401-V”. He said he would lock the price for one year in case we decided to get more points later to utilize our “401-V”. We have since learned REDACTED DEVELOPER NAME points are virtually worthless on resale.
The forms were long and extensive. We asked for time to review the documents but were pressured into signing “today” or not get the price per point offered. After seven hours, my husband got upset and left. Eric followed us to our room insisting that we sign. We thought that Eric must be telling the truth, because if he wasn’t, there would be some sort of regulation. We incorrectly put our faith in Eric.”
This is an example of why consumers need more protection from unscrupulous sales personnel
If you live in, own timeshare in, or just feel it’s important as I do, contact the legislators in those states. A call to Mr Issacson might be in order as well.
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