You may have seen commercial on television that advertise for timeshare exit options. These services can help you to get rid of a timeshare that you no longer want or can no longer afford. If you are looking to get out of your timeshare, here are a few of the strategies that a timeshare exit company can offer you.
Reviewing the Cancellation Policy for the Timeshare
If you have recently purchased the timeshare and you are now having second thoughts, you may be able to exercise your right of rescission. Many states require a cool down period when purchasing timeshares. This allows you to cancel your contract for purchasing a timeshare within this time frame. The exact time frame varies by state, but should be spelled out in your purchasing contract. Always follow the steps laid out in your contract to ensure you properly cancel by the proper date or you give up your right to cancel the contract.
Inquire About Buyback or Exit Options With the Timeshare Company
If you have a timeshare you do not want, you may not realize that many timeshare companies offer buyback or exit options. They may buy back your contract for you or help you to sell the contract to other people who are looking for secondary market contracts. Your purchasing agreement should layout what your buyback or exit options are with a timeshare seller. It is important to note that utilizing buyback or exit options may yield a low return, but it often is a fast and easy option.
Sell the Timeshare
The final way to get rid of a timeshare you no longer want is to simply sell the timeshare on the resale market. Selling a timeshare contract yourself is the best way to net the highest amount of money for the contract. You can sell it to friends and family, or utilize online sites that match up those with a timeshare contract they no longer want with those looking to purchase those contracts.
Most timeshares require you to pay annual fees or maintenance costs. As such, you may find that your timeshare is no longer worth it to you or you may be unable to afford to keep it. Thankfully, there are options for you that allow you to get rid of the timeshare that you no longer want. If you are struggling to get rid of your timeshare on your own, contact a timeshare exit strategy specialist. They will work with you and the timeshare company to come up with the best ways for you to get rid of a timeshare you no longer want.