Tips for buying a timeshare

• Don't act on impulse or under pressure.

• Get a handle on all the obligations and benefits of the timeshare. Is everything the sales representative promises written into the contract? If not, walk away from the sale.

• In making decisions, calculate the total cost of the timeshare or vacation plan by including mortgage payments, travel costs, annual maintenance fees and taxes, closing costs, broker commissions and finance charges. Maintenance fees can rise at rates that equal or exceed inflation, so ask whether your plan has a fee cap.

• To help evaluate the purchase, compare timeshare costs with the cost of renting similar accommodations with similar amenities in the same location for the same period. If you determine that a timeshare makes sense, comparison shopping is your next step.

• Study the paperwork outside of the sales presentation environment and, if possible, ask someone who is knowledgeable about contracts and real estate to review it before you make a decision.

• Research the track record of the seller before you buy. Check for complaints about the developer with the Better Business Bureau or government agencies.

• Visit the facilities and talk to the current timeshare owners about their experiences. Local real estate agents can also be good sources of information.

• Ask about your ability to cancel the contract. (Utah has a five-day right of rescission). If you cancel the contract, do it in writing and send it by certified mail, return receipt requested, so you can document what the seller received.