What to do if f I purchased a foreclosed timeshare and tried to cancel within 5 days but they say that I cannot since its a re-sale?

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What to do if f I purchased a foreclosed timeshare and tried to cancel within 5 days but they say that I cannot since its a re-sale?

I was lied to about everything regarding this timeshare. They did not give me the right to cancel in the contract.

Asked on July 19, 2012 under Real Estate Law, California

Answers:

MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

You may not have an automatic right to cancel. It is up to you as part of your due dilligence to ensure you get what you buy.  If you relied to your detriment on certain written statements the sellers/broker made, then you need to go and seek a consumer protection agency to help you cancel this transaction.

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

I suggest that you carefully read the purchase agreement that you signed to purchase the timeshare that you purchased in that its terms and conditions control the obligations owed to you concerning its purchase and vice versa.

Ordinarily with the purchase of real property there is no time period in which to cancel a contract such as a home solicitation contract. As to misrepresentations made to induce you to purchase the timeshare, I suggest that you consult with a real estate attorney about such.


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