How to get out of timeshare?
How to get out of timeshare? A simple question with complicated answers, find out what the best solution is to get out of a timeshare
Timeshare industry has a terrible reputation. It’s not a secret that timeshare resorts make a huge percent of their profits out of the timeshare sales, and in most cases the salespeople on the resort use deceptive sales tactics in order to get a sale done. That leaves a big number of people who fell into this scam disappointed and dealing with the problem of how to get out of timeshare.
How to get out of timeshare – Some reasons
The reasons why a large number of timeshare owners are wondering how to get out of timeshare are as varied as understandable. There are an incalculable number of cases of people who have bought their timeshare properties under fraudulent, high-pressure sales practices. Unfortunately, most of these people have realized they made a wrong choice after the rescission period has passed, leaving them with a big problem. These are some of the reasons that lead an owner to look for a way of how to get out of timeshare:
- Annual Fees. - The first reason why lots of timeshare owners are looking to a great extent how to get out of timeshare are the annual fees. They have to pay a maintenance fee every year that goes from $450 to $750 USD. Beside the maintenance fees, some resorts charge a membership fee and assessment fees. If the owner belongs to RCI, he must pay a $99 fee and being that not enough, those fees do not stay fixed, but they keep on rising each year. To know more about this go to our article How much do timeshares cost.
- Resell value. - One of the biggest lies told at a timeshare presentation is that if you reach a point where you’re looking how to get out of timeshare, you could easily get rid of the timeshare just by selling it, and you could even make a profit of it. A big-fat lie. The resell value is extremely low. One needs only to look at the timeshares listed on EBay, Craiglist or Redweek to see how low the resell value can be.
- The weeks. - Timeshares are not for spontaneous travelling. You are limited to use it for a certain number of weeks each year, and most of the times in low season. If you are feeling that you need a vacation it is easier if you book a room in a regular hotel than trying to exchange your timeshare weeks. It is a hassle to deal with the resort and they will very probably charge you a fee.
- Timeshare trades. - Timeshare salespeople dazzle their potential buyers by telling them they could vacation anywhere they want all over the world. What they do not tell you is that in order to trade your timeshare location the resort must be affiliated to the RCI, and that has an extra cost. Also, it is not an easy process to trade your timeshare location, and that makes that lots of owners feel frustrated even for trying.
How to get out of timeshare – Some solutions
It is an unquestionable fact that a large number of timeshare owners are wondering how to get out of timeshare. There are many solutions regarding timeshares, but most of them are nonviable and complicated. Some of these solutions are:
- Resell the timeshare
This is almost certainly the most difficult solution. The demand for timeshare resales is nearly inexistent. Not only you will hardly find a buyer, but if you do, you will luckily get a few bucks for it.
- Renting the timeshare
Renting the timeshare is not an option either. There are lots of timeshare rental companies that claim to help you to rent your timeshare weeks, but with no guarantees. Plus they ask for an upfront fee, and sometimes for a big commission.
- Transfer the timeshare
A timeshare transfer is a complicated process where you end up paying more fees and taxes, and if the transfer is not done appropriately, you will be still responsible for the timeshare obligations.
- Donate the timeshare
There is no chance a charity organization will take a timeshare. The value of timeshares is almost zero, and the organizations are not willing to pay the annual fees.
- Give it back to the resort
There is no reason why a reason for the resort to take your timeshare back. First you have to pay the timeshare off, and you already did, they want you to keep on with the obligation of paying the maintenance fees.
- Inherit the timeshare
Being completely honest, who would really want to pass along a timeshare to his loved ones? Owning a timeshare is a big responsibility and it requires many expenses that no one wants for their beloved ones.
These are some of the solutions that came across for those who are wondering how to get out of timeshare, but as you might have noticed, all of them are problematical.
How to get out of timeshare – The best solution
The best solution to the dilemma of how to get out of timeshare is the cancellation of the contract. Timeshare cancellation is the most effective way to get rid of a timeshare. By cancelling the contract you can relief yourself from all the payments and obligations that you have when you own a timeshare, plus you won’t have any further strings attached to the resort. We mention more advantages of timeshare cancellation in our article Cancel a timeshare.
Timeshare cancellation requires the help from experts on timeshare issues. There are many timeshare relief companies that claim to cancel your contract after you give them an upfront fee, when timeshare cancellation doesn’t cost any upfront fee.
Mexican Timeshare Solutions is a company that works under a contingency basis and doesn’t collect any fees until the contract is completely cancelled, otherwise, no fee is charged. Contact Mexican Timeshare Solutions for a free consultation on your timeshare matter and get ready to finally give away your timeshare contract.
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To know more about Timeshares visit:How do timeshares work?