They told you it would be the perfect location for a fun girls trip, but what they didn’t tell you is how much money it really costs. If you’re feeling stuck you’re not alone! Many people have struggled to know how to get out of a timeshare without spending an exorbitant amount of money.
However, while it may be difficult, it’s not impossible to get out of your contract. Here are our 3 tips to get rid of your timeshare.
1. Look for a Cancelation Opportunities
Many timeshare representatives will tell you that there is no way to cancel your contract. That’s not always the case.
Most contracts have a grace period where you can cancel anytime with no questions asked. However, for these, you must act fast. The grace period may only last a couple of weeks after the contract was signed.
If you can’t find a cancellation clause in your contract, look at your state laws. Some states have laws that a contract can be canceled within a short period of time.
The Primo Management Group teaches that another way to cancel your contract — with a letter! Send a well-written cancelation letter to the company, and see what happens.
2. Sell Your Portion
The next step you can take is to try and sell your timeshare portion. There are a lot of different companies that specialize in selling timeshares.
First, try talking with the company that sold you your portion. Oftentimes these companies will help owners sell their contract for a portion of the sales.
If they don’t seem to be much help, don’t dismay, there are other groups you can turn to. One of which is a real estate agency.
Did you know there are agents that specialize specifically in selling timeshares?
The last option you can try is selling the timeshare yourself. This may be a little more difficult and time-consuming. However, it’s a great option if you are willing to put in the effort.
If you don’t want to put in the time and don’t care about getting money back, you can sell it on eBay or other selling services. However, because so many people are trying to get out of their contracts these prices tend to be low.
3. Give it Away
The last option is to give your timeshare away. While you won’t recoup any of your money you also won’t have to worry about any heavy maintenance fees.
Many organizations used to accept timeshares as a donation, but less and less are accepting them nowadays.
You can also ask your timeshare company if you can deedback the contract to them. This eliminates your future financial responsibilities and your claim on the property.
How to Get Out of A Timeshare
Timeshares may seem exciting at first, but year after year of maintenance fees and payments can quickly drain that excitement.
Don’t get stuck going to the same vacation spot because you have to pay for it. Instead, learn how to travel around the world and blend in with the locals.
If after trying all these steps, you’re still having trouble knowing how to get out of a timeshare, seek legal help. And if you have any more questions contact us! We can’t wait to help you out.