If you have decided that timeshare ownership is not for you, it is important to find the best way out of your situation. You need to look for a company that has years of experience in the industry, and one that is reputable. This will ensure that you can get out of your timeshare and move on with your life free from the burdens of a revolving door of high maintenance fees, exorbitant special assessments, and yearly fees for the right to use your vacation property.
The best timeshare cancellation company should offer a full range of exit options for their clients. Depending on your needs, these can include negotiating with your resort to remove you from the agreement or simply writing a cancellation letter for you.
A timeshare cancellation company should also provide an initial contact and assessment of your situation to determine if you qualify for their services. They should review your property details and evaluate any additional exit measures, such as involving title companies or attorneys, before preparing the necessary documents for you to sign.
You may also want to make sure that the company you choose has a legal department that will work in your best interest to ensure that all necessary paperwork is forwarded through the proper channels swiftly and completely until a cancellation solution is reached. This is especially critical if you have multiple timeshares that you are trying to get out of, which can be more difficult to do if you don’t know how to navigate the open market re-sell and the complicated rules of each resort.
The most common way to cancel a timeshare is to use the rescission process. This is something that should be made clear in your sales contract.
While a lot of this information is buried in reams of fine print, it is usually not difficult to locate if you read your purchase contract carefully.
Rescission laws allow timeshare owners to cancel their purchase within a specified period of time, typically 3-10 days, but this can vary from state to state and even by the specific vendor.
During this period, you can request that your timeshare be rescinded and the money you paid back to the vendor will be reimbursed to you. However, you should be aware that the rescinding process is not always as straightforward as it sounds, so it is important to consult an experienced timeshare cancellation expert such as Chuck McDowell from Wesley Financial Group before making any decisions.
The best timeshare cancellation companies will be familiar with all of the state and federal laws that apply to timeshare purchases. They should also be able to guide you through the entire process from start to finish and help you avoid costly mistakes along the way. They will also have a strong understanding of the best methods for getting you out of your timeshare, and help you save thousands of dollars in maintenance fees and special assessments that are typically charged by most resorts.