Timeshares are a wonderful way to enjoy luxurious vacations and amenities, but not everyone wants to continue to pay for them. After all, they can be expensive and not always worth the investment. However, if you feel like your timeshare is no longer right for you and your family, there are ways to get rid of it legally without spending money.
The process of timeshare cancellation is very different from that of resale, and often requires some expertise and experience. It is also a good idea to hire an experienced and reputable company, who can help you navigate the process and ensure that you get out of your timeshare successfully.
There are many reasons that people decide to cancel their timeshare. They may have been lied to when they purchased their timeshare or they may simply find that the resorts that they are affiliated with are no longer right for them.
Regret is a common reason for wanting to get out of a timeshare. This is especially true if you have been paying high maintenance fees for years and it is no longer affordable or worth it to continue to do so.
Fortunately, most timeshares have specific instructions in the sales contract that detail the rescission period and the steps you must follow to cancel your purchase. This information is not always obvious or a given in the reams of fine print that make up most timeshare sales contracts, but it is a perfectly valid and legal option for all owners to take advantage of.
Most state and foreign laws have a set timeframe in which you can use this rescission period to get out of your timeshare. These rescission periods vary, but most range from 3 to 15 days.
Once you have determined that you want to cancel your timeshare, it is important to write a letter and send it to the developer or the timeshare resort. You should be sure to include the date, the name of the resort you are trying to get out of and a copy of the rescission period in your letter.
If you are unsure of how to write this letter, it is a good idea to ask a friend or family member who has had experience with timeshares and can help you draft a letter. This can be a great way to make sure that your letter is accurate and that the resort or developer knows you are ready to take action.
You should also make sure that you follow all the steps required to cancel your timeshare and submit all of your paperwork to the developer or resort in a timely manner. This will help speed up the process and ensure that your timeshare cancellation is successful.
The process of timeshare cancellation can be a bit confusing, but it can also be very rewarding when you finally get out of your timeshare. If you are tired of being trapped in a timeshare, contact us today for your free consultation!