If you have a timeshare, you may want to cancel it for various reasons. You may not have been happy with the vacation plans you made, or you may be unhappy with the maintenance fees you’re paying. Or you may simply find that your lifestyle has changed. No matter why you’re canceling your timeshare, you need to make sure that you follow the correct procedures. This will help you get a clean exit.
One of the first things that you should do is read the terms of your timeshare contract carefully. In some cases, your contract will include a cooling off period, where you can cancel the agreement within a certain number of days after signing the contract. Usually, the cancellation period will vary from state to state, but most states will allow you to cancel the agreement for up to 15 days after signing.
Once you’ve figured out what you’re doing, you should write a letter explaining your desire to cancel your timeshare. Be sure to include a signature, and if you have a financing agreement, you should also request a full refund. The letter should be delivered within the specified period, and you should mail it to the proper address. Some contracts may require that you use registered mail or hand delivery.
Another thing you should consider is whether your timeshare has an oral or written rescission option. Most timeshare companies will have a provision for you to do both. However, the written record is still considered the most reliable. A lot of people aren’t aware of the rescission option, and don’t realize that it is there until they need to do something about their timeshare.
If you haven’t had a chance to visit your timeshare, you should check out the resort and speak with the management. They should be able to tell you the length of the rescission period and any special requirements for cancellation. Sometimes, they will even allow you to give the resort your cancellation notice in person.
Timeshares are expensive and you don’t want to be stuck with them for the rest of your life. If you are thinking about canceling, it’s important that you act quickly. There is no guarantee that you’ll be able to get your money back. And if you can’t get a refund, you may be liable for any payments that were already made.
While a timeshare might seem like a great idea at the time, you’re bound to regret it. If you decide to sell your timeshare, you’ll have to go through a difficult process. Oftentimes, unscrupulous players will approach you in the resale market. Don’t fall for them. Instead, rely on a reputable timeshare cancellation service. These professionals will walk you through the process, making sure you don’t get a bad deal. Depending on your situation, you might need to hire a lawyer, title company, or other services. But in the end, you’ll have a better chance of successfully getting out of your timeshare.