Proven Timeshare Exit Strategies

Are you a timeshare owner looking for an exit strategy?

If you are looking to get rid of a timeshare that has been draining your finances, we can offer you relief. Despite what people tell you there are ways to get out of your contract. Some are more expensive than others, but every method is guaranteed to save you money in the long run.

Rescission Period? Get out today!

The cheapest and easiest way to remove the burden of rental properties is to cancel your contract within your rescission period. The only downside to this method is that it is extremely time sensitive, and may only be useful to recent owners.

A rescission period is an allotted “cool off” timeframe that lies hidden in all timeshare sales contracts. It guarantees the potential buyer has a short period (usually between 3-15 days, depending upon location) to cancel a contract without incurring any financial loss. Most salespeople skip this section of the contract entirely during presentations, so it’s important that you take the time to thoroughly read your copy of the contract.

In order to act upon the rescission period, all you have to do is write a formal letter to the developer stating your intent to cancel. Make sure to include your name is it appears on the contract, the date you signed the contract, as well as your contract number. To ensure the developer does not try to claim you did not send the letter within your rescission period always send the letter via certified mail.

Resell Your Property

One of the benefits of the Internet is that there are numerous avenues to explore if you want to resell a timeshare. From Ebay to certified resale companies, no matter how long you have owned a property, there are ways to connect with potential buyers.

Sites like ebay are good for owners on a tight budget. The listing fee is nominal, and you have the benefit of the site’s million+ users who might see your listing. The downside lies in the competitive nature of these sites. They are flooded with listings, and to ensure your sale you will have to take massive losses on your asking price.

If you opt to use a resale company you’re bound to have better luck. While this is a more expensive method, you can rest easy knowing that professionals are handling your sale. Just make sure to avoid any company that asks for upfront fees, and always stick with a company with a solid reputation.

There are many untrustworthy companies out there, so we would advise you to let us set you up with a company in good standing within the timeshare resale industry.

Donate Your Timeshare

This is the last option we would recommend to you, but when you have exhausted all other resources donating a timeshare is an option if nothing else. The thing to watch out for is that some charities accept timeshare deeds, but fail to legally transfer the title once the deal is done. This can result in you paying for a timeshare you technically no longer own.

If you’re going to pursue this means, we strongly suggest doing so through a timeshare attorney. He/She will make sure that all paperwork and transfers are taken care of.

 

If you want to leave your timeshare contract behind, fill out the form at the bottom of this page. We’ll set you up with a specialist who will provide a free consultation, as well as help you decide the right course of action.

 

Get Out of Your Timeshare Contract Today. You’ll be Glad You Did.

If you’ve been paying attention you might have noticed that more and more people are trying get out of their timeshare contracts. The money you are spending on your timeshare is essentially money that you’re just throwing away. It is money you are simply losing, and it could be put to better use.

The rocky economic climate has been hard on every one, but what about the resorts? How are they faring during these turbulent times? You might be surprised. Florida alone has seen very little decrease in its tourism, and as we all know it is the timeshare capital of the United States. So how is the economy impacting their timeshare business? The short answer is it isn’t.

You see, Disney (and other resorts) do just fine as far as timeshares go. They get paid whether people take advantage of their accommodations or not. So don’t worry about the resorts. They aren’t worried about you.

If nothing else, the simplest reason to sell your timeshare is for that very fact. There will always be people who can afford to travel to their timeshare property, and the resorts understand this. What matters is that you cannot make ends meet so long as you’re burdened by timeshare ownership.

Consider these reasons to cancel your timeshare contract:

  • Maintenance fees. These are fees you’re paying in order to keep the timeshare in good shape whether you use it or not. And guess what; even though the economy is in the dumps, these maintenance fees are increasing in cost! Do yourself a favor, and stop paying for what you aren’t using.
  • Cost of Travel. We all know how expensive it is to take the whole family on vacation. Even if you’ve already got a paid-for room as a part of your contract, you still have to purchase plane tickets, gas, meals – whatever else. Traveling is expensive, so save your self the cost.
  • Difficult Work Schedules. With many companies letting go of employees left and right, those who still have jobs know how precious they are. Often times the workers left standing have to adopt more work as a result, making out-of-state vacations more of an afterthought.

I am sure the list of reasons can go on and on, but the most important reason is that you’re paying for something you can’t use. So take the money you would spend on this troublesome timeshare, and put it towards getting rid of your timeshare contract today.

How To Write a Timeshare Contract Cancellation Letter.

Timeshare cancellation can be a piece of cake despite what some people might tell you. The key is to getting started before it’s too late. If your contract is still in rescission, you can get out of it by simply writing a contract cancellation letter.

Do yourself a favor and go look over your timeshare contract. Do you see a section that covers something called a “rescission period”? A rescission period is the amount of time you are allowed to cancel your contract, and if you’ve acted in time you should be in the clear. (Most contracts in the US allot buyers anywhere between 3-15 days to rescind the contract)

So you’ve found your contract, and you still have time to back out. Great! So, what’s the next step? Simply, the next step is to write a timeshare cancellation letter.

There are three important bits of information you must include when writing a timeshare cancellation letter.

  • List your name, as written on the contract.
  • Your contract number
  • Date of purchase

Now, with these three bits of information in mind, simply write a formal letter stating your intent of getting rid of your timeshare. You don’t necessarily need to include your reasons for coming to this decision, but if you feel like doing so you certainly may. All that matters is that you’ve told the company you wish to cancel the contract, and also that you’ve included the three necessary bits of information I listed above.

As a final bit of advice, I would suggest that you never email or fax your cancellation letter. While these two methods will save you some time initially, there is no guarantee that the letter won’t get “misplaced” by the company in question. Always, always, always send the letter via registered or certified mail. By taking this safety precaution, you can rest assured that there is proof of your cancellation taking place within the rescission period should the need for attorneys ever arise.

Writing a competent timeshare cancellation contract while still in rescission is the best means of getting rid of your timeshare before it costs you dearly. We’ve shown you how, now get to writing. Get out from under your contract today.

Selling Timeshare Contracts: Are Timeshare Resale Companies Worth It?

One option for getting out of your timeshare contract is to sell your timeshare to a new owner. The beauty is that through selling your timeshare, you are getting out of your contract and giving it to someone else. The best part is that you stand to make money doing it. One question that gets asked all to often is, “Are timeshare resale companies worth the money?”

The process of selling your timeshare through a third party can be a little hit-or-miss, but there are usually reasons for this – reasons that are by no means immune to careful planning. When you begin looking for a timeshare resale company, here are some things to keep in mind:

  • You will take a hit; don’t expect your original investment.
  • Do your research.
  • Avoid Upfront Fees and overly optimistic promises.

There is good money to be made in timeshares, but not necessarily if you’re a current owner looking to sell yours. By and large this is an industry that favors the resorts and resale companies, in that they can buy your timeshare for less than it was originally worth then turn around and sell it to a new buyer for a mark up. This isn’t dishonest in any way, so don’t be concerned/discouraged. This is simply how the business works.

Wouldn't it be nice to see that sign on YOUR property?

When considering a fair asking price for your property, the general wisdom is to expect a 50% loss off of your original investment. If you’re going to take out a listing at a resale company for a timeshare that originally cost you $3,600 expect to start pricing at $1,800. To ensure that you actually sell your property I would advise you to price lower – to price competitively. Many timeshare owners are selling their weeks, so there is a lot of competition out there. Give yourself the best advantage you can.

Of course another important factor to take into consideration when looking for a timeshare resale company is that you do not want to jump at the first company you find. As with anything else, you need to shop around before investing your money.

As there is so much money to be made in the timeshare resale business there are an almost endless number of sites that want your money. Not all of them will get it through honest means. At the very least you’re liable to wind up paying too much for too little if you walk into this blind. Keep your eyes open, and your wits sharp.

 

One fantastic resource for finding a reputable resale company is to search for one through the ARDA-ROC’s Timeshare Seller’s Resource Center. The site provides prospective sellers with a comprehensive list of companies, forums for previous sellers to advise new sellers, and a detailed list of things to watch for in a reputable company.

If nothing else, my best advice is to ignore any company who asks for an upfront fee and promises to have a buyer already lined up. Selling timeshares is not an exact science, and some very desirable properties might not sell for any number of reasons. If any one tells you they have a buyer, they are most likely lying. If they ask for an upfront fee they are essentially asking you to give them free money – they likely won’t do what it takes to sell your timeshare.

Selling your timeshare contract is a big deal, so don’t fool around. Timeshare resale companies are reliable, by and large. Follow our advice, keep your eye on the prize, and get rid of your timeshare contract for good.