Can I Cancel my timeshare?
How to get out of a timeshare?
Can I cancel my timeshare in Mexico? Is it legal? Mexico is a great vacation destination, but if you purchased a timeshare during you stay, you may have made a mistake, without even knowing it. If you are reading this article thinking "how to get out of a timeshare?" keep reading.
A few months after purchasing a timeshare, you will probably start receiving a large amount of documentation from the resort detailing everything you have to cover. Looking at the paperwork, you may have noticed a few things that didn´t look right. Maybe the mortgage price was higher than the stated, or the sales rep lied to you about the annual fees and now you are left asking "can I cancel my timeshare?"
If this sounds like what you have experienced, the you are not alone. 1 in 8 households in the United States owns a timeshare and timeshares in Mexico are a great part of the statistic and so are people asking how to cancel a timeshare, according to Timeshare Consumer Guide.
Are you worried about how to cancel a timeshare in a foreign country? Don´t stress, we are here to help. There are a couple of options you have if you are learning how to get out of a timeshare in Mexico. So, stop desperately seaching the internet for answers! If you are looking for how can I cancel my timeshare in mexico, the Us or anywhere else in the world, you will most likely find companies that buy second hand timeshares, trying to convince you that reselling your property is the easiest way to cancel a timeshare legally.
Such companies are known for scamming and stealing money from people that want to get rid if their timeshare. We advice you to stay away from then and beware, since salespeople from these companies can pose as real estate agents, providing you with fake contact information (address, phone, email) and tricking you into sending money.
The timeshare resale scam
Since their job is basically reselling and buying secon hand timeshares, these companies will do anything to scam. Victims of resale companies claim that a red flag is being contacted fist by these companies. They use this technique named cold calling, after they spot a propertu posted as a "resale" and call the owner, they will try to convince you to resale your property if you are wondering "how can I cancel my timeshare?"
They will offer a pretty decent amount of money for people desperately looking for how to get out of a timeshare. They will ask for a certain amount of money in order to cover "some fees" stating that it will be refunded to you. But as soon as you send the money this company vanished and you have just been scammed.
After knowing about this, you must be looking for a way to cancel your timeshare legally. Therefore, we suggest cancelling your timeshare in the proper way, following tha laws in the country you acquired the timeshare ownership. Mexico in this case works with a specific cancellation policy.
Timeshare Cancellation Policy
Are you looking for how to cancel a timeshare contract? If you´re the kind of person who typically reads such contract right after it´s purchased, it may be your lucky day.
Inorder to cancel a timeshare legally you must know that the rescission period in yur contract is another way to give you a few days to see that what you bought is beneficial to your situation. Commonly, timeshare companies have a rescission period of 5 business days. But on rare occasions, it can be extended up to a month. If you are in your rescission period, we encourage you to act immediately.
First, we suggest that you contact the resort and tell them that you want to leave immediately and that you are under your rescission period. We then suggest that you submit all required documents the following day. Your timeshare cancellation will need a signed document stating that you want to terminate your contract. We recommend that you send the documents overnight to play it safe. If the documents arrive days after your rescission period, most timeshare companies will not accept your request to rescind the contract.
Cancelling a timeshare legally Mexico
If you are reading this and want to know how to cancel a timeshare contract in Mexico, you must first understand how Mexican timeshare law works. Timeshare in Mexico are sold as vacation ownership or leases. Timeshares in Mexico have a life of between 3 and 100 years to be used. You will be required to pay annual and monthly fees when you own the timeshare during that period. This can be obviously espensive, and is one of the main reasons people wonder can I cancel my timeshare?
If you want to know how to cancel a timeshare in Mexico, you must be familiar with article 56 of the Federal Consumer Protection Law (PROFECO). This not only applies to citizents of Mexico, but the law also applies to foreigners.The Consumer Protection Law requires that any consumer who feels they have been cheated must mail or personally deliver a written cancellation letter. You need to explain your situation and how you fell victim to high-pressure sales tactics.
The letter should detail names, dates contract numer, and the date you purchased the contract along with any contact information you wich to include.
Once everything is submitted, we recommend that you contact the resort and follow up with any other information they need for the cancellation of your timeshare in Mexico.
It is difficult for companies to get out of a Mexican timeshare due to judicial restrictions. However, when looking for how to cancel a timeshare contract you will find there are lots of flaws in timeshare contracts that make them confusing and hard to understand.
If you are looking for how to cancel a timeshare in Mexico, act quickly! Timeshare can be mentally and financially stressful. They can be a huge problem with rising maintenance fees and monthly costs. Let alone the constant phone calls to improve your timeshare and cover the fees. If you went on vacation and unfortunately fell victim to a timeshare signing and now you are asking yourself, how can I cancel my timeshare? now you know that you have options.
If you already sent you cancellation letter and have not received an answer fron the resort, don´t despair. Contact us, we offer a free consultation to advise you on your case.