Owning a timeshare may seem like a dream. A place where you can go on vacation every year? Why would someone want out of that?
But the reality is, for people who are feeling stuck in a timeshare, that dream can quickly become a nightmare that never seems to end.
There could be many reasons why someone would want out of their timeshare. And through our years of helping our clients, you can bet that we’ve heard them all. But there are really three common reasons that we hear all the time from people who want to get out of their timeshares:
- Frustrated with the Timeshare
You’ve probably experienced this. You’re ready for a vacation with your friends or family, but when you go to book a stay at your timeshare, it’s not available when you want to travel! Well, you’re not alone. It’s the same story year after year for so many others. Plus, those maintenance fees continue to go up and up. So, people get stuck with paying for a timeshare that they never even use.
- Experienced Changes in a Season of Life
Some people love their timeshare and have used it for 10 or 20 years, but it just no longer fits their lifestyle. The kids have left the house, or they’ve retired and no longer have the disposable income. And there are so many other ways to travel and go on a vacation that better fit their new season of life and their budget.
- Inherited the Timeshare in an Estate
This is a growing problem that we’re seeing more and more with people who come to us. Mom and Dad have passed on, and suddenly the kids are left with the timeshare in a will or an estate. It’s an inheritance that they didn’t want in the first place, but now they’re stuck having to pay for it.
Whatever your reason for wanting to get out, Timeshare Termination Team is here to help you. Our process is simple: You’ll talk with an Expert Advisor about your situation, and they will provide you with the road map out of this burden. After that, we do all the heavy lifting for you. It can be that simple.
Don’t waste another moment paying for a timeshare you’ll never use. Request your consultation today.
Buying a timeshare can be a good thing if you are sure you can afford it and if you are not fooled into signing such a contract that you do not know too much about. A timeshare gives you the opportunity to spend your vacation in places where you normally do not afford to go. One of the advantages is that paying now for future holidays keeps you protected from further price increases.
There are good timeshare deals, but also contracts that you will regret, therefore the consideration of owning a timeshare requires research and attention. Buying a timeshare is not a decision you can take easily.
There are many ways in which some sellers will try to take your money without telling you about hidden costs related to timeshares. Always read the contract very carefully, and do not sign until you ask the advice of a specialist. In principle, if a bid sounds too good to be true, then maybe it is, and you should remain cautious, instead of getting excited too quickly. Also, if you have the impression that you are somehow rushed into signing a contract (a pretty common practice, unfortunately, in timeshare sales), do not sign!
As such, the best reasons to never buy a timeshare are the following:
- A timeshare is a complex transaction – too complex!
- In most of the cases, such a contract is signed for indefinite duration
- It will be difficult for you to sell your timeshare and you will get only a small percentage of the money you paid for it. It might leave you asking is it better to cancel my timeshare contract or how do I sell my timeshare property and not lose money.
- Things happen in life, and you might not be able to always schedule your vacation during your assigned period.
Buying a property under the traditional timeshare regime – the right to use that property for a certain period each year – can be quite problematic. The same thing can be said about joining systems offering long-term holiday products such as holiday clubs that provide discounts on accommodation or access to various benefits, sometimes in combination with traveling or other services, for a period of more than one year.
Both conventional timeshares and the various systems offering long-term holiday products that have emerged over the years may involve a substantial, permanent or long-term financial commitment. They also provide recurrent costs (taxes, maintenance costs, insurance, etc.).
The perfect time to get out of your timeshare or think about timeshare cancellation is when you feel it becomes a burden and you cannot handle it anymore. Timeshares are long term contracts and your financial situation may change or you can get bored of planning your vacation in the same place all over again.
In order to protect yourself from possible misunderstandings, it is good to know that there are rules that protect you against unscrupulous traders when you sign contracts for timeshare purchases or other systems offering long-term holiday products. Norms also protect you when signing resale contracts or exchange contracts.