We live in a world of responsibilities. So many bills that need to be paid. So, when times are tough and we need the money back in our pockets, timeshare maintenance fees are likely to come first on the chopping block. But how do you get rid of a timeshare? How do you get yourself out of paying timeshare maintenance fees? Below are some of the proven strategies to get out.
Cancel The Contract Within The Retraction Period
So, you recently got excited and bought a timeshare. After some reflection, you realize that, oh snap! You did not research the timeshare well enough or maybe things have just taken a wrong turn. You now want out, fast!
For starters, many timeshare contracts have a rescission period within which you can cancel the timeshare, no questions asked. But you need to be quick to act because in most cases, the rescission period is 3-15 days long. You do not have much time before the cancellation process becomes complicated. You should write a cancellation letter and send it via a certified channel to the timeshare company. Remember to always keep a copy for yourself. This is perhaps the easiest way to get yourself out of a timeshare contract.
Check If The Timeshare Company Will Take It Back
Purchasing a timeshare is not like buying a real estate property. You do not expect the value of the timeshare to appreciate. Frankly, the demand and supply dynamics of the timeshare space make it a buyer’s market. So before considering putting the timeshare on the resale market, a better bet would be to ask the timeshare company to take it back.
Most timeshare companies have what is known as a deed-back program where they are willing to take back the timeshare as long as you do not have any outstanding loan and you are done with the mortgage payments.
Use A Timeshare Exit Company
What about if you are outside of the rescission period and all the doors look closed on getting rid of the timeshare? How about using experts that encounter timeshare cases daily? For example, you could consider using a timeshare cancellation company to help you put.
The key is to pick a reputable company in serving your region. Say you have a timeshare contract from resorts like Orange Lake in Florida, which you can’t seem to get off your hands. In this case, a reputable timeshare exit company can help you get out of Orange Lake timeshare legally. However, you should be very careful because the timeshare world is shrouded with lots of shadowy scams. Ensure you do your homework. Do not take the timeshare exit companies for their word. Check the available reviews to assess their credibility.
Tip: Always be suspicious of companies that require an upfront fee.
Give The Timeshare To A Friend Or Family
We all know the proverbial, one man’s meat is another man’s poison. Your timeshare maintenance fees may be the bane of your existence. But guess what? A friend or family member may ironically need a vacation spot where they can create memories and escape the mundane everyday life. Ask your family or friends if they’d fancy the gift of beautiful future vacations but remember that you need to be very honest and transparent about the maintenance fees or any other relevant financial information. Make sure that they truly understand what they are getting themselves into.
We hope that these strategies will get you well on your way to getting rid of that timeshare. Make sure you strive to forfeit your timeshare legally to avoid issues cropping up in future. Don’t hesitate to seek help if need be.
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