Buying a vacation home can be out of reach for many people. But what about buying a “piece” of a vacation home? That’s the idea behind timeshares — you pay a fraction of the cost for a property and have access to it for a set amount of time each year.

As the industry has grown, it has expanded to include opportunities to trade your timeshare for time in another property — meaning you can pick a different location for your vacation every year. And at the same time, the business of selling timeshares has also boomed.

There are many ethical timeshare companies and many are even BBB Accredited Businesses. But, of course, every industry also has its share of bad actors.

BBB serving Acadiana answers questions from consumers:

Q: If I am interested in buying a timeshare where do I look?

A: Look on the secondary market first. Be fully aware of what you are purchasing and from whom you are buying to ensure a smooth transaction. Make sure you have in writing the terms of the sale and what each side is responsible for paying at closing. Read the contract carefully and ask questions of the seller.

Q: What if I am told this is a time sensitive deal on a timeshare I really like?

A: Don’t bow to pressure. Take time to think about your decision. Ask the salesperson to send you written information about your possible purchase, including a contract that you can review. There is nothing that says you have to sign the first thing that is shown to you. Let the deal breathe before you figure out if it is right for you.

Q: How should I research information on timeshare companies?

A: Compare travel savings with online travel services or local travel agents. Also, check out the company with bbb.org.

Q: What if I signed and now I want to cancel my timeshare?

A: Act fast if you are not satisfied. If you sign a contract for a timeshare or travel club, you have a short window to cancel the contract if you don’t like what you purchased. Don’t wait until after you get back from your trip to take a second look at the contract and research the company you are dealing with or it may be too late. Also, always pay with a credit card so you can challenge the charge should something go wrong with the purchase.

Q: How can I get out of a timeshare commitment?

A: First, turn to the property from which you purchased the deed to see if there is a deed-back program in place. If that does not work, you may have to turn to the resale market. You likely will have to make a deal with a buyer to sell the timeshare. That option often is still cheaper than dealing with a resale or liquidation company that may charge you thousands of dollars to do the same work for you.

Do you have a question you would like to submit for this column? Please send to info@acadiana.bbb.org subject line: BBB/DailyIberian.