Timeshares are not considered real property and the ways they are sold to people can sometimes be questionable. Although the timeshare industry is worth $70 billion, the average price of a timeshare is over $20,000. That can turn into a large chunk of money that you didn’t necessarily plan to spend, and what’s even scarier, that is even harder to get out of. The average age of those who own timeshares is 46 and timeshares don’t go away when you die, they just become the responsibility of your loved ones. This can make is seem like getting out of a timeshare is impossible although it is pretty hard, it’s not impossible. Read below for some helpful tips for those not knowing how to get out of a timeshare.
Rent
You can choose to rent your timeshare if you can’t figure out how to get out of a timeshare. Trying to cancel timeshares shows people just how hard it is getting out of a timeshare contract without the help of timeshare lawyers. Trying to rent your timeshare is one way to do this. The only drawback is resorts choose to rent out timeshares themselves, and their prices is significantly cheaper than what it would cost to recoup the costs of owning one. One way to get by this is to rent on holidays and other high travel times when chances are the other unoccupied units are rented out.
Cancellation Period
The truth is your timeshare company will try every trick in the book to try to keep you from cancelling. They will tell you that there is no way to cancel your contract, and may even talk you into spending more money to get what you want from your timeshare. This can leave you wracking your brain trying to figure out how to get out of a timeshare. The truth is there is a cancellation for all contracts, although this period could vary from state to state. Become familiar with the policy in your state, and what it defines. If you are still within your cancellation period, then cancel your timeshare by writing a letter. Include all information included in the contract including the names exactly as they are spelled on the contract. There needs to be no reason why you are cancelling, although it is best to send your letter via certified mail.
Lawyer
Many will have you believe that it is impossible to cancel a contract after the cancellation period is over, if they even admit that there is one. This is not true, and the contract can in fact be cancelled, even after the cancellation period has passed. In order to do this you will need an experience lawyer on your side. The lawyer will bring a lawsuit to the company and work to get your timeshare cancelled. Many times unfair and dishonest practices are used to get you to purchase a timeshare, but you the consumer are protected by consumer protection laws. These laws protect you from deceptive practices to increase sales. Any experienced timeshare lawyer can help you when you are left wondering how to get out of a timeshare.
It’s no lie, signing up for a timeshare is much easier than cancelling the contract, but don’t let that stop you. If you are serious about breaking your contract, there are ways that it can be done. Although they may not be easy in the end they will be worth it.