You’ve come to hate watching your hard-earned money leave your account when your timeshare payment and maintenance fees are due. At this point, the vacation you once enjoyed and looked forward to has turned out to be a huge burden and a pain in the neck. Maybe things were once different. Perhaps you once loved your timeshare before your salary was slashed, you got divorced, or your spouse got bedridden.
Irrespective of the reason behind the attitude change, now you feel confined and have made it a priority to exit your timeshare. However, exiting a timeshare is not easy-breezy. Pulling off a successful timeshare exit can be tricky. But if done right, you’ll be free. Below are some hints on how to go about the process.
1. Call Your Developer
Exiting a timeshare can be very easy if you know what to do and the right person to call. If you are fed up with your timeshare and want to call it quits, contacting your developer is the best way to facilitate your exit. When you call the resort, don’t talk to just anyone. Ensure you speak to the person who handles “deed-backs” or “surrender”,—which is a process that allows you to return the deed to the developer.
Most timeshare developers offer deed-back or surrender programs. However, these developers won’t advertise it, so it is left for you to do your homework and go through with the process.
2. Consider Selling It
It is common practice to ditch things we don’t need, and one of the best ways of doing that is putting them up for sale. You could do the same for your timeshare. However, you must note that this option is not for those with loans on their timeshare.
If there are no loans on your timeshare, then you can proceed by figuring out its worth. You can do this by either contacting a professional real estate agent or scouring the internet for timeshare resale sites or listing sites like eBay, Zillow, etc.
After discovering the ideal listing site, your next move should be to find the final sale for timeshares like yours. Don’t dream of getting a huge offer for your timeshare. Your aim is not to make a huge profit but get the expenses off your shoulders.
3. Leverage the Services of a Timeshare Exit Company
When we hit a roadblock in our attempt to achieve something, we often run to professionals for help. For instance, individuals struggling with debt often leverage the service of debt consolidation companies.
Also, those who wish to sell a house use the services of professional realtors. If you are keen on exiting a timeshare, you can also leverage the services of a company established for such a purpose. An example of such a company is Linx Legal. Timeshare exit companies have what it takes to help you exit or sell your timeshare seamlessly.
4. Cancel It
Cancelling a timeshare purchase is possible. However, you’ll need to act fast, given that you are only allowed to cancel a timeshare purchase within the rescission period.
The rescission period—which varies by state—is usually a few days (five to seven days). So you have a few days after making the timeshare purchase to determine if it is something you want or not, after which there is no going back. Cancellation is only available for those who recently purchased a timeshare.
Exiting a timeshare is quite easy, provided you know the ropes. Calling the developer should be your first option. If you are unlucky, you can try other alternatives like hiring a timeshare exit company. While searching for such companies, ensure you go for one that has a good track record of helping people exit their timeshare without any difficulties.