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Timeshare Exit Process: One Size Doesn’t Fit All

timeshare exit process

March 11, 2019 – by Primo Management Group

timeshare exit process

Every timeshare exit process is unique. Here’s why.

Timeshares are like snowflakes–each one is unique. And that’s why each timeshare exit process is unique. As consumer advocates specializing in timeshare cancellation, we work with owners desperate to get out of their timeshares every day. They always want to know how long the process will take and how much will it cost. And the answer is always, it depends. Here are some scenarios we see all the time that impact time and costs.

Timeshare Exit Process: Rescission Period

Every timeshare contract comes with a Right of Rescission. This means that either party can cancel the contract for any reason during a short cooling off period. The length of the rescission period varies by location. And the requirements for rescission also vary. However, typically you must rescind the contract in writing by sending or delivering a letter to the address of the timeshare company. This is the fastest, cheapest form of timeshare exit. But it is time-sensitive. And you should follow-up after the fact, because sometimes companies will process payments or send owners to collections even after rescission is complete. You can do this yourself. We are also happy to help you with this process, including the follow-up.

Timeshare Exit Process: Timeshare Return

Some timeshare companies and timeshare contracts have return clauses and programs. These options allow you to essentially give back your timeshare under specific circumstances. You won’t get any money back, but you will be free from future obligations. These “special circumstances” are typically very narrow. And you are probably not eligible if you’re behind on maintenance fees or special assessments and if you still owe money on the purchase price. If you’re eligible, congratulations! We can help you through this if you aren’t comfortable doing it on your own. But, if you’re not eligible, read on!

Timeshare Exit Process: Resale

Some owners try to get out through the resale market. This process is its own kind of snowflake. First, your resale rights vary based on your contract and your timeshare company. Some contracts have a Right Of First Refusal (ROFR) clause. That means that any sale must first be refused by the company. Others restrict the rights of owners who buy on the resale market. So, if that’s you, your timeshare may be less attractive to buyers. Finally, your location, unit and interval plus the number of similar units on the market all matter. Of course, timeshares on the resale market sell well below original purchase price. And they can languish on the market for quite a while. So, be ready for the long haul.

Listing sites like Redweek and Timeshare Users Group are good options for sellers. Resale companies exist but can be risky. And resale scams are a real danger. At Primo, we don’t offer resale services. But we can help you if resale doesn’t work out. In fact, many of our clients were unsuccessful on the resale market and turned to us for guaranteed results.

Timeshare Exit Process: It’s Complicated

So, what if your rescission period is over? And you aren’t eligible to return your timeshare? And the resale market isn’t for you? Well, you’ve got yourself a complicated timeshare exit process. Unfortunately, this very common. Timeshare companies have a vested interest in keeping you in your timeshare and paying your fees. Many companies make it difficult for owners to navigate this process. Tactics can include stalling, intimidation, and withholding information. If you don’t know who to talk to, what questions to ask, or what your rights are, a complicated timeshare exit is daunting.

Luckily, we specialize in working with companies to get owners out of situations like yours. First, you contact us for a free consultation. Then, we’ll ask questions to help us determine what you’re dealing with and what you can expect. And you’ll ask us all of your questions. Together, we can figure this out and get you out of your timeshare. Contact us to find out more.

(Image Source: Pixabay)

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