Tips On How to Sell Your Timeshare Fast
3 min read
Every year, thousands of Americans find themselves stuck in timeshare contracts that they don’t want. And owning a timeshare isn’t like owning a car. Timeshares are not very liquid assets. They take time to sell.
When you’re trying to sell your timeshare, where can you go to find buyers? How do you get good value for something that you’ve been paying fees into for years? The whole process can be frustrating.
Timeshares can cost tens of thousands of dollars. It’s no chump change. For a lot of people, paying the ongoing fees for a timeshare becomes a financial burden.
If you’ve found yourself running into more medical bills and other expenses, or you’re just not getting the enjoyment out of your timeshare that you thought you would, it’s natural to look for a way out.
But where should you start? It’s not like you can simply call up your timeshare company and say, “Hey, I’m done.” There is a reason the contracts are notoriously unforgiving. They know that they use pressure sales tactics and sleight of hand to get people locked in.
When you need help getting out of a timeshare, one option is hiring a timeshare attorney. These lawyers specialize in dealing with timeshare properties and management companies for their clients.
A good timeshare attorney can negotiate an exit for you. They can work directly on your behalf to take the stress of canceling or selling a timeshare off your shelf.
Let’s explore how a timeshare attorney can help, what they cost, and how to make sure the lawyer you hire can get the job done.
When your car breaks down, your main focus is getting to a mechanic who can fix whatever is wrong. Of course, you’re worried about cost, but paying a bad mechanic to work on your car is a bad strategy. Things won’t get fixed, and, eventually, you’re going to need to hire someone capable.
The same goes for timeshare attorneys. In any legal profession, there are lawyers with different levels of competence and expertise. What you want to do is find someone who will give you the best chances of success. Here’s what to look for:
This is perhaps the most important piece of the puzzle. A good timeshare attorney is going to cost you thousands of dollars. You need to make sure that’s money well spent.
Ask any attorney you speak to about their track record. Explain your situation and then listen to what they’ve done for clients in the past. It’s perhaps the biggest indicator of success you can find.
Not every timeshare development company or management firm is the same. Find a lawyer who has worked with your timeshare company. They’ll likely have contacts there to make the process move faster.
Learn from others about what to expect.
These days, it’s easier than ever to find online reviews. People will help you separate the good from the bad. One bad review here or there is understandable. Maybe from an impossible old customer or something. However, too many negative reviews are a red flag.
The right attorney will help you feel more comfortable with what’s happening. It’s easier to agree to pay someone when they are transparent and instill confidence.
A good lawyer will be direct and clear on what you’re paying and when they’ll charge you.
Timeshare negotiations don’t happen overnight. As the owner, and the customer paying for legal services, it’s vital that you feel like you’re in the loop on what’s happening.
In the beginning, as you interview potential timeshare attorneys, pay attention to how quickly they respond to questions over the phone or email. It’s a good indication of how the working relationship will be longer-term.
Tip – You lawyer has other clients. Give them a few days to respond, but don’t be too shy to follow up on an email or phone call.
On average, you should expect to pay around $4,000 to $5,000 for a timeshare attorney. That’s an average, so depending on your situation, you could pay more, or you could pay less.
If your situation is simple and straightforward, attorneys can process paperwork faster and it will save you money.
However, if you’re dealing with a more complex situation, then the final bill can grow.
While it’s never fun to pay for legal fees, you’ve got to weigh it against how much it’s costing you to keep your timeshare now, and into the future. When you do that, legal help can be a bargain.
How Legal Fees Are Charged – When you’re looking for a timeshare attorney, usually law firms will offer no-obligation consultations. They do this to:
When you’re on the call with them, ask about how fees are paid. Do they bill a flat fee or by the hour? Listen to their explanations and go with what makes the most sense to you.
Guarantees – Many lawyers will only take payment for successful outcomes. That’s a good deal, especially in an industry known for being stingy when it comes to letting contracts go.
It’s possible to avoid upfront fees. If you can get a law firm that will only charge you if they deliver the results you expect, it can take the sting out of the cost.
Specific Costs – The best firms have been in the business for years. After speaking to you and learning about your situation, they’ll be able to quote you in a narrow range.
Be careful here, though. Stay away from any companies too quick to throw out a price. They could just be tossing a number out there that will change once the work has started.
Let’s talk a bit about how a timeshare attorney will help. For most people, the biggest thing they’ll do is create and execute a plan.
It’s hard to know where to start when you want to get out of a timeshare. If you’re like most, you dial the customer service number on your statement, wait for a long time on hold, and then are told, “no”. Then what?
Your attorney should get started working right away. They’ll draft legal correspondence letting the timeshare company know that you now have legal representation and what your intentions are. One of the first steps is often filing a cancellation letter with the company.
They’ll review your contract to look for any discrepancies or errors that could lead to cancellation.
An attorney will help you know if and when to stop paying your fees and can work toward a settlement or other resolution with the timeshare company.
With every step forward, your lawyer will be there to explain what’s happening and why. They’ll keep you updated and let you know when anything significant happens.
That’s probably the biggest perk of hiring a timeshare attorney. They do everything. They let you know when you need to sign something, but other than that, they do all of the heavy liftings.
At the end of the day, what’s your peace of mind worth? For most people, the cost is reasonable for what they’re getting in return.
A good lawyer can also advise you on whether there’s a better option to pursue.
For example, some timeshares do very well in the secondary market. You may be able to fetch good money for your property to make up for all the years you’ve been paying into it.
They can also talk to you about things like donating your timeshare or renting it out as a way to reduce your expenses.
Again, these aren’t solutions for everyone, but they could work for you.
The bottom line is that the right lawyer will customize a plan that works for your situation and budget. They’ll get to work immediately to get you in a better spot.
Insider Advice – A good attorney will let you know if settlement, sale, donation, or traditional exit is the best option. If you feel pressured, you can always walk away.
Unfortunately, getting out of your timeshare, even with an expert lawyer, doesn’t happen overnight.
It can take months to successfully negotiate an exit, and sometimes takes over a year.
If you think that the thousands you’ll pay for a lawyer who specializes in dealing with timeshare is a lot of money, consider that they’ll be working on your situation for months. That’s a lot of value over time.
After you sign up with a legal team, they’ll work with you to set some expectations. That will help you feel like you’re up to speed on what’s going to happen.
If you hire the right firm, they’ll have processes in place to progress quickly. They’ll know how your company works and how to get the responses they need to move things forward. Soon, you’ll see the results you’re looking for.
Every timeshare is different, so one person’s results aren’t likely to be the next. With the right lawyer, you can know what the likely outcome will be.
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.
Their high-pressure tactics
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