Timeshares are one of the most popular forms of vacation property ownership today. They are a popular choice for families that want to save money on vacations and enjoy the luxury of owning a piece of a vacation home for years to come.
But the timeshare experience is not without its drawbacks, including costly management fees and unwanted annual fees, a poor quality of service, and more. And even though there are a few options for timeshare cancellation, the process can take time and energy away from your life.
It can be a frustrating process, and if you’re unable to get out of your timeshare, it could be a devastating financial and mental blow. That’s why it’s crucial to take your time to find the best company for your situation and needs.
The most important step is to identify the correct rescission period that you’re entitled to by law. This is typically a minimum of 3 days but can be as long as 15 days depending on the state you purchased your timeshare in.
During this rescission period, you have the right to cancel your contract and receive a full refund. You can do this by writing to the developer or resort, providing them with your contract number and date of purchase. You must do this within 14 days of the date you signed your timeshare agreement, or else they will be able to charge you for a late cancellation fee and/or impose an additional fee.
Rescissions are typically easy to accomplish if you follow the proper procedure. You’ll need to send your letter via certified mail and request a return receipt.
Once you’ve sent your rescission, you can contact the developer or resort to verify they received it and that your refund was processed correctly. You should also make a copy of the letter for your records.
You may also choose to write to the Better Business Bureau to determine if there are any complaints against the company you’re considering. This is a good way to get an idea of the kind of customer service they offer and their reputation for honesty and integrity.
A good timeshare exit company will have a team of experts that work together to assess your case, develop the necessary documentation and coordinate with timeshare management and developers in order to ensure a quick and smooth timeshare cancellation.
If you’re not sure if the company you’re considering is legitimate, it’s always a good idea to read their reviews and feedback on websites like Yelp and the Better Business Bureau. These reviews will let you know if there have been any issues with a particular company or agent, which should help you avoid scams in the future.
Another warning sign that you should be wary of is companies that charge a hefty upfront fee. This is a common strategy that some companies use in order to lure you in.
A reputable timeshare exit company will be willing to meet with you personally to review your situation and assess whether they’re the best fit for your individual situation. The representative will be able to explain the process and answer any questions you have. They’ll also be able to evaluate any additional exit measures that you may qualify for, such as involving title companies or attorneys. They’ll then be able to put together an accurate quote for you.