How to Cancel a Timeshare
Getting out of a timeshare contract is often a long and difficult process. It starts with understanding the contract terms and what your options are for terminating the agreement. The best way to do this is to consult an experienced third-party firm specializing in timeshare cancellation. These firms can help you understand your timeshare termination rights, how different clauses in the contract may affect your ability to terminate, and provide guidance throughout the process. They also understand that there are many companies that prey on timeshare owners and can assist you in avoiding these scams.
The first step to canceling a timeshare is sending the company a letter informing them that you wish to exercise your right to rescind under the terms of the contract. It is important to make sure that this letter is mailed before the deadline given in the contract. It is also a good idea to send it via certified mail with a request for return receipt so that you have proof of the date and time when the letter was received. If you provided any type of deposit, then you should request the return of this in your letter as well.
Once the company receives your written rescission notice, they are required to notify you of the date that they will process your cancellation and any refunds that they are owed by you. If they do not process your cancellation within 30 days of receiving it, then you can contact them and ask for an explanation. This will give you the opportunity to ask them to reconsider their decision based on any new information that may have come to light since they originally received your cancellation letter.
It is important that you do not visit the timeshare sales center to discuss your situation with someone in person. There have been numerous stories of people who do this, and it ends up delaying their rescission period and/or agreeing to stay with the timeshare. If you do go to the sales center, then you should only speak with a supervisor who can verify that your rescission request has been received.
Another option for canceling a timeshare is to try and sell it. However, this can be very challenging, especially if you purchased it with a loan attached. The loan will need to be paid off in order to resell the property. Additionally, most timesales will charge you listing fees to advertise your timeshare for sale on their website. These fees can add up and ultimately cancel your chances of successfully selling your timeshare.
An alternative to reselling your timeshare is working with a reputable and accredited timeshare exit company like Linx Legal. These companies can handle your timeshare termination process while adhering to strict ethical procedures and regulations. They will assess your timeshare to see if you qualify for their services, and they will then create a plan of action that will be executed by their team of specialists, including attorneys and title companies, if necessary.
