Timeshare woes got you wondering how to get rid of a timeshare? We can help.
If you’ve ever tried to get rid of a timeshare, you know it’s easier said than done. Unfortunately, there are many, many people stuck in timeshares. It is possible to get out, but the catch is that most methods won’t recoup your money. But once you’re out, you’re free of crippling maintenance fees, collection letters, and stress. Let’s explore some ways to get rid of a timeshare and get on with your life.
Rescind Your Contract
By far the easiest way to get rid of a timeshare is to cancel your contract during the rescission period. The rescission period is a cooling off period immediately after you sign your contract during which you can cancel the contract for any reason. If you have immediate buyer’s remorse, you can exercise your right of rescission. For more information on how to cancel during the cooling off period, click here. However, to use this method, you must act within days of signing that contract or you’re out of luck.
Sell It Yourself
Many owners turn to the resale market to try to get rid of a timeshare. The internet makes it easier than ever to advertise your timeshare. Sites like the Timeshare Users Group and Redweek help connect sellers and buyers. However, the resale market is literally flooded with available units. And while the internet will help you list your timeshare, it also makes it easy for prospective buyers to compare prices. Most timeshares on the resale market go for far less than the original owner paid. And that’s if you can find a buyer at all, which is by no means guaranteed. Just look at the many timeshares listed on eBay for $1 if you want to see desperate sellers. Selling can be a great option if you can find a buyer. Otherwise, it might become just another timeshare stressor.
Give It Back
Timeshares are a financial liability, so many people want to just give it away. Sure, you’ll lose all the money you already paid but at least you won’t have to pay annual fees for the rest of your life. Some resorts do offer programs that allow you to give back your timeshare. Click here for more information on giving back a timeshare. The catch here is that you can typically only give your timeshare back if you’re up to date on maintenance fees and are paid in full.
Rent It Out
If you can’t find a seller and the developer won’t take it back, you can rent out your timeshare. TUG and Redweek also make it easy to list your rental. Unfortunately, not all contracts allow you rent your timeshare. And if they do allow rentals, you may pay an additional fee for the right to rent. But renting is only a temporary solution. Although you might cover this year’s maintenance fees by renting, you’ll be stuck with the same issue next year. And the year after that. And, well, you get the picture.
Get Help from a Cancellation Partner
Because it’s so difficult to get rid of a timeshare, you may want to get the help of a timeshare cancellation partner like Primo Management Group. These professional consumer advocates work on your behalf with timeshare companies to get you out of your contract. These advocates typically charge an upfront fee but once you’re free of your contract, you’re also free of a lifetime of maintenance fees. However, any time you pay an upfront fee, you should check out the company in advance. Make sure they have a good rating with consumer groups like the Business Consumer Alliance and check their Google Reviews. And definitely look for a money-back guarantee.
At Primo, we work hard every day on behalf of consumers desperate to get out of their contracts. We know it’s scary to pay an upfront fee after being scammed into a timeshare. That’s why we offer a free, no-risk consultation and a 100% money-back guarantee. You can also check out our many, many positive reviews all over the internet, like this Google Review from Bonnita B.: “By nature, I’m a skeptic when it comes to paying upfront fees for services. Well, Primo Management Group delivered on every promise and got my timeshare canceled in less than two months.” We deliver the same great service to all of our clients. Click here to get started with that free consultation.
(Image Source: Pixabay)