A timeshare exit is a process where a timeshare owner can sell or get rid of their membership agreement with a resort or developer. However, it is not a simple science. Several factors need to be taken into consideration. For instance, the time it will take to complete the transaction depends on the type of timeshare and the number of documents needed. If the resort or developer is responsive, you may be able to complete the deal in a matter of months. At the same time, if the developer is unwilling to offer you a quick sale, it could take years. Thankfully, there are services that can help you get rid of your timeshare.
The most obvious way to know that you are dealing with a legitimate company is by checking its reviews. Ideally, you should use the most reputable firm. But, if you aren’t sure, you can find a list of reputable companies on the ARDA website. In fact, the ARDA’s Responsible Exit Coalition offers resources to help you leave your timeshare on a better note.
There are many companies that claim to have helped thousands of timeshare owners get out of their timeshare contracts. Some of them are legitimate, and others are not. While some may seem legit, they can be expensive. Depending on your situation, you might need to spend hundreds of dollars to get out of your timeshare. This is a cost that can be justified if you are saving money over the lifetime of your timeshare.
One thing to look for is a 100% money-back guarantee. Unfortunately, there are some shady enterprises out there that pose as real estate or legal professionals. They can charge you thousands of dollars and swindle you out of your hard-earned money. Therefore, a timeshare exit company that gives you a guaranteed way out of your timeshare contract is a good idea.
Escrow is an additional layer of security to consider. Many timeshare exit companies work with a trusted escrow provider. Basically, escrow will verify that the seller is legitimate and has the funds necessary to complete the purchase. That’s important, because a timeshare exit company that doesn’t have an escrow is a red flag.
Other things to consider when choosing a timeshare exit company are the length of time it takes to complete the transaction. Typically, the process will take eight to twelve months. During this period, the exit company will keep you on the hook for any remaining maintenance fees.
The best way to know whether or not a timeshare exit company is right for you is by asking for testimonials from previous clients. A positive testimonial is a good sign that the company is worth using.
You should also be wary of unsolicited calls. These are typically scams. Unless the call is from a real estate professional, they are not the type of company you want to work with. Instead, check the reviews on a reputable review site.