Depending on how you see things, vacation timeshares can either be a phenomenal investment for avid travelers or a money chasm for clients who are unaware of corrupt misleading salespersons. Whether or not an individual bought a timeshare out of free will and now wants out because of a shift in their vacations needs or because they felt pushed into signing the deal.
In this article, we are going to share six easy ways to exit a timeshare simply because you deserve a break.
- Appoint a Timeshare Exit Company
One of the best ways to do this swiftly without the hassle of admin and paperwork is to hire a timeshare exit company. These types of organizations have been around for decades. So if you need help and feel overwhelmed about what to do when selling your timeshare this may be the best option for you.
In addition, if you need a lawyer to exit a timeshare, a timeshare exit company would appoint a law firm to stand for you. They do this on your behalf so you don’t have to worry.
- Look Over Your Timeshare Contract
Timeshare contracts often have a rescission or retraction phase. This is also referred to as the “cooling off” time. It’s a grace period given to you after you sign the agreement and the option to cancel without being asked any questions. In most cases, it lasts for only a couple of days but in some countries, there are terms and conditions to be adhered to before the period starts.
This “cooling off” time is also known as a deed-back clause where you are granted permission to give the timeshare back to a retreat within a specified time frame.
One of your best bets is to refer to the laws in your state if your contract is not clear. Also, review the rescission conditions on the contract first and foremost.
If you purchased your timeshare recently, you don’t need to worry too much, you may be in luck as you could be able to annul the contract easily and quickly. Just take note that canceling a timeshare agreement officially requires written notice. If you plan to do this, plan to write a formal letter but don’t forget to keep a copy and to sign it.
- Will the company buy it back
At times, the timeshare company will buy it back from you. Although this is a rare occurrence, it can happen. But you must be aware that you won’t get your full price in a buyback.
- Try and see if the company won’t take it back for free
While some companies won’t buy the timeshare back from you, they will consider taking them for free. At your loss of course. But bear in mind that the overall goal is to stop paying charges altogether.
5.Place Your Timeshare on the Market to Sell
In some instances you’re able to sell the timeshares you don’t want to someone else through a professional realtor. Just like the buyback, you will not get value for your money because you’ll sell it for less than you paid for it.
You have the option to list an ad on Redweek.com. This is a website designed specifically to promote timeshares for sale in an online resale market.
- You can choose to give it away
If all the points listed above don’t work, you may simply give them away. The reality is you could have serious trouble selling it. So if you have tried a thousand times over without succeeding just give it away that way you’ll rid yourself of the annual fees.
If you like you can use TUGBBS Bargain Bin. This is an online timeshare forum set to aid people who want to rid of their timeshares and also helps those who are looking to get freebies.