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How to Exit Timeshare Contracts (Without the Stress)

September 7, 2017 – by Primo Management Group

When you’re looking to ditch your timeshare, there’s a lot of conflicting info. Here’s how to exit timeshare contracts without all the stress.

The timeshare industry is huge and still growing. In fact, between 2015 and 2016 the sales volume of the industry increased from $8.6 billion to $9.2 billion.

Timeshares can be attractive investments at first, but eventually, they may become a burden. In many cases, timeshare owners find themselves in financial trouble and the timeshare contract they are under needs to be relinquished. There are a number of ways to terminate a timeshare contract, but depending on your particular situation, it can be very tricky.

Some exit timeshare companies claim they can get individuals out of their contracts. They end up costing thousands of dollars and creating more headaches for the owner.

In some instances, a consumer advocate may need to be involved in the process to ensure an individual is not taken advantage of and is fully released from their timeshare. Primo Management Group in Orlando, FL is your best option.

Consider the Rescission Period:

However, there are ways to exit timeshare contracts without the stress associated with exit timeshare companies or dealing directly with the resort. Below are some possibilities a timeshare owner can entertain if they need to get out of their contract.

Consider the Rescission Period

If you’ve recently purchased a timeshare and are now regretting your decision, you need to consider the rescission period.

Many people have buyer’s remorse after purchasing a timeshare and can use this clause to cancel the contract early on. The rescission period refers to a short period of time after you have purchased the timeshare during which you can cancel your contract. Each contract is different and state laws can dictate rescission periods, so you’ll need to check your contract in order to find out if this is available to you.

Unfortunately, using the rescission period to cancel the contract will only work for recently purchased timeshares. This is a technique that new buyers can utilize, but if you’ve owned a timeshare for a while, you’ll need to try a different approach.

Donate Your Timeshare:

An option for those who are past the rescission period is to donate the timeshare to a charity or other organization. Charities typically need venues to hold annual events and your timeshare could provide the perfect location and atmosphere.

In some cases, charity organizations end up taking over responsibility of the payments from the owner to hold their annual events. This is a great way for the owner of a timeshare to relinquish the costs and stress of being under an unwanted contract.

This approach also carries the advantage of a tax deduction at the end of each year. This will help with contract and maintenance costs you have previously incurred.

Selling or Renting Your Timeshare:

Timeshares are notorious for having bad resale values, but often an owner just wants out. Even if you aren’t getting a good price relative to what you paid, the peace of mind of getting out from under the contract may be worth it.

You’ll need to consider a few things when trying to sell a timeshare. Location is a big factor. Many older resorts or condos are much harder to sell, as conditions have depreciated over the years and the need for maintenance is higher.

Additionally, if a resort is failing, they may not have enough profit coming in to properly maintain the units, making them unattractive to potential buyers. As the owner of a timeshare, you may be stuck with increasing maintenance fees on top of the annual price of the space.

Considering these factors is essential before deciding to sell a timeshare. Fortunately there are resources that you can utilize in order stay informed about your property. Websites like Sharket provide resale information and news regarding timeshares in different areas of the country.

If you’re still having trouble selling a timeshare, renting is always an option. While this doesn’t get you out of your contract completely, renting will cut some of the costs down and buy you time while waiting to sell.

Watch Out For Scams:

If you’ve decided to work with an exit timeshare company to sell your property, you need to watch out for scams, which are common in the timeshare industry. There are also a number of different scam tactics currently in use.

Always be weary of solicitations from agents or exit timeshare companies offering to help sell your timeshare. Quality organizations don’t need to solicit their services. In order to get your business, many of these companies will insist they already have a possible buyer when in reality they’re just trying to get your business.

Some scams involve individuals posing as a timeshare company. They claim to have received an offer on your timeshare, but in reality they are after your money. They may ask for money in order to get the ball rolling, but this is a scam.

Let a Timeshare Exit Professional Help You:

If you’re under a timeshare contract and need out, you need to work with an organization that is knowledgeable of both the exit process and the timeshare industry. At Primo Management Group in Orlando, FL, we excel in both of these areas.

Let us evaluate your case and provide the best possible solution for your situation. Contact us today.

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Relieve Yourself of the Unwanted Timeshare Burden

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Get A Free Consultation

Relieve Yourself of the Unwanted Timeshare Burden

Your information is 100% secure and encrypted. We will never sell or share your information with anyone.

Frequently Asked Questions ?

How does PMG get me out of my timeshare contract?

PMG is not a resale, transfer, or donation company. We are consumer advocates—we help to negotiate the release of your timeshare contract obligation. We do not buy, sell, or rent your timeshare. Simply put, we help you to get out of your timeshare contract forever.

How long does the process usually take?

Usually less than 12 months, but it all depends on your situation. Let us help you. Speak to your advisor about the time, and what delays the resorts have put into place to prevent timeshare owners from departing their ownership. If you have a mortgage or past due maintenance fee, the process takes more time.

How much is my timeshare worth?

This is probably going to hurt, but whether you paid $5,000 or $50,000 for your timeshare, the IRS values all timeshares as worthless investments. In addition, that timeshare would have negative value due to the annual maintenance fee bill which compounds year after year. That is until PMG helps you cancel your timeshare.

Can I use your service if I still have a balance owed on my mortgage?

Yes. Whether you bought your timeshare 20 days ago or 20 years ago, PMG has a solution for you and is here to help.

Will my name be off the timeshare?

Yes! Permanently! GUARANTEED!

In addition to getting me out of my timeshare, can you recover the money I’ve already spent on mortgage payments and maintenance fees?

While we are able to recover money in rare cases, beware of any timeshare cancellation company that entices you with the promise of fund recovery. The truth is, the resorts are loath to give back the money they’ve already taken for timeshares.

Are your consumer advocates really “consumer advocates”, or is that just a fancy word for salesperson?

Because most of our clients have had their trust betrayed by timeshare salespeople, we understand how some consumers can become a bit jaded. When you call us for a consultation, that’s exactly what you get, a consultation. At PMG, our job is not to sell you; our job is to help you get out of your timeshare. Which is why we have numerous 5-star reviews and an “A” (excellent) rating from the BCA.

Why should I choose PMG to get me out of my timeshare?

We go above and beyond for our customers by helping to protect you, and have the best success rate in the industry, rated 5-stars by clients. We pride ourselves on providing our customers with the best customer service in the industry. When you contact our company, you speak to a live person, not an automated system or voicemail. We offer a 100% money back guarantee, and we can provide documented proof of our success in helping customers just like you.

What happens after I sign up with you? Will I be apprised of your progress?

At PMG, we pride ourselves on our hands-on, boutique-style customer service, so every new client will work with our expert, experienced team whose job is to keep you in the loop throughout the entire cancellation process. We are always just a phone call away.

How much is your fee?

Not all timeshare experiences are created equal. Some are more complicated than others, and every situation is different. That’s why our trained timeshare elimination consultants will ask you a series of questions designed to determine exactly what needs to be done to terminate your timeshare, how long it will take, and how they can best advocate for you. We will always seek the most cost-effective route for you.

What if I still have more questions?

Canceling a timeshare contract is not a cookie cutter process. With each situation being unique, once you complete the form below an experienced consumer advocate will call you today to discuss your options.