Timeshare Investment: Good Idea or Big Mistake?
Buying a Timeshare, Guides, Tips, and Hacks
3 min read
Timeshares can be serious burdens, and it’s very difficult to sell timeshares on the resale market. So many consumers wonder, “Can’t I just give back a timeshare?” If you’re just want to be done with the timeshare and done with the fees, giving it back seems like a great option. Depending on your circumstances, you may be able to give back a timeshare. Here’s what you need to consider.
Owners cite many reasons for wanting to give back a timeshare. For many, they can no longer afford the always-increasing maintenance fees, which averaged almost $1000 a year in 2017. Or financial circumstances have dramatically changed, and the fees and travel are now out of reach. Others find they don’t use their timeshare. Still, others have health issues that prohibit travel. Finally, many children find they’ve inherited a timeshare that they don’t want. And we’ve heard countless other reasons for wanting to get out of a timeshare contract.
To even have a chance to give back a timeshare, you must be in good standing. First, that means you’ve paid off the purchase price and own your timeshare. After all, you can’t give away something you don’t own—and you definitely can’t give it to the real owners! Second, you must be up to date on your maintenance fees. That’s a deal-breaker for most timeshare benefits and give back programs are no exception.
If you’re in good standing, you may be in luck. Many resorts do have timeshare give back programs. However, these programs are not likely to be well-advertised by the resorts. If you’re hoping for the return policy on the back of your receipt, you’ll be disappointed. However, with so many dissatisfied owners and so much activity on the resale market, give back programs are on the rise. You many find information in the contract or on the website. Or you may need to contact the resort or HOA directly for more information. But one thing is certain, being in good standing is a prerequisite for pretty much every single one.
What if your resort doesn’t have a give back program? Well, that doesn’t mean they won’t take back your timeshare. However, you need to contact them directly. You’ll probably also have to share the personal circumstances behind the give back. The HOA may have to discuss their request, and the answer may still be no, but it never hurts to ask.
The truth is, they often say no. You may not be able to give back a timeshare depending on the resort and your circumstances. In that case, you’ll need to decide if you can make ownership work for you or seek other ways to get out of your timeshare. It can be a complex process, but we can help. Contact us for a free consultation to find out how we can help you exit your timeshare even after all of your other attempts to get free have failed.
How to choose the right company to get me out of my timeshare
We know how stressful timeshare contracts can be. What once sounded like a dream resort package turned into a nightmare. When you don't know where to turn, look to PMG to relieve you of your timeshare burden. We pride ourselves on open, honest, and frequent communication with our clients.
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Still not sure what's the next step? Our dedicated team can review your agreement and guide you through the process. The Primo difference is all about service. Our timeshare elimination consultants have one mission: To serve our clients and bring the peace of mind that comes from relieving their timeshare obligation.Get Started
The timeshare industry has spent a tremendous amount of time and money to delay, confuse and deter you from canceling your timeshare contract. Your team of timeshare elimination experts act as your consumer advocate and will work tirelessly to free you from your timeshare contract, mortgage, and maintenance fee bill.Give it a try