How to get out of timeshare?
Unwanted Timeshare Contract?
If you recently purchased a timeshare, the chances of you being part of the 85% of customers that are upset with their timeshare or regret signing the contract, are huge, but that’s not a surprise anymore.
Unfortunately, this is a very common situation and probably if you are reading this, is because you are already having second thoughts and you want to get out of your timeshare because you realized that the reality, is way too far from what they offered you during the sale.
From high pressure sales tactics to unfulfilled promises and benefits, there are many reasons that could be making you consider cancelling your timeshare.
You can have a better idea on what timeshares are in articles like:
I do not want my timeshare anymore! What should I do to get out of my timeshare?
First, we have to evaluate the situation you are in a timeshare contract is a binding legal contract; nevertheless, you have 5 days after the signing of the contract to get it canceled. However, there are some aspects you have to consider, for example, for some resorts these 5 days are 5 business days, for others Resorts they are 5 natural days. Meanwhile for some resorts Sundays don’t count as a business day and for other Resorts, it is still part of the week. This means that if you signed the contract on a Tuesday morning, in some resorts you could get it canceled during the same week, even on a Saturday, but on other Resorts you will have to wait until Monday to get out of the timeshare.
It is highly recommended to hire an expert on the field, a timeshare lawyer that will help you to get out of your timeshare legally, especially if you are within the first 5 days of signing your timeshare contract. Hiring a Timeshare Lawyer expert must be made in order to avoid complications and timeshare scams that will affect you during the process and penalties that may be harmful for you and your family.
How to cancel timeshare after grace period?
The good news is that there are still much to do, and yes, you still can get out your timeshare contract but you’ll have to hire a timeshare lawyer.
The first thing to do is to get support from a qualified timeshare lawyer. The reason for this to be highly recommended is because most of the resorts and hotels (if not all of them) will deny you the cancelation of your timeshare contract and promissory note, because in the contract, the clauses specifies that, after the first 5 days of the signing of the timeshare contract, is not possible to get out of your timeshare, however this is not true. The timeshare lawyer will guide you through the cancellation of your timeshare contract and will provide you with all the recommendations and actions that need to be taken.
There are many reasons why this is a bad idea. The first one is that usually; the salesman says that having a timeshare is an excellent business opportunity and that a person can, not only recovers their investment, but also can make some extra money. Usually this is not like that because of many factors like availability, contract clauses, finding potential buyers or renters. Have in mind, that one bad buyer or renter can cause enough problems that will go straight to your pocket because it is very often that the timeshare RESALE MARKET is a scam.
Trying this option is probably is a big waste of time, because no matter how surprising this may sound, people can be way less receptive than we thought they would be, because you are not just giving away a property, but a contract that represents huge expenses and endless payments that most of people are not willing to pay.
What happens if I stop paying my timeshare? Definitely the worst option of all, if you suddenly stop paying your monthly payments or maintenance fees without any kind of legal process backing you up, is the worst thing you can do. The reason is that the obvious reaction that we can expect from the resort is to take legal action against you and now they have the weapons needed (provided by you) to proceed with an legal action against you and at the end, you will not only be charged what you stopped paying, you will be also charged penalty feesbecause the contract was breachedby you, you will lose all benefits, among other things.The resort will execute the promissory note.
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