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Cancel a Timeshare - Tips to get rid of it

Cancel a Timeshare - Tips  to get rid of it
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Most of people who have purchased timeshare contracts become excited about the travel possibilities express by a sales representative. These possibilities usually are never used. By this time you probably realized that you spent thousands of dollars on a timeshare that is not what you or your family need. Regardless of the reason why you feel you need to cancel a timeshare, you need to know some basic steps to dump it fast and avoiding any possible scam from timeshare sharks.

Tips to Cancel a timeshare:

  1.  Read the timeshare laws for vacation ownership where your timeshare is located. If it was purchased in Mexico, then, it is ruled by the Mexican civil law. Timeshare sales are governed by the state or country you purchased and not by your residence. Your contract must specify your cancellation grace period without incurring in any penalty as well as any resell limitation you might have. Mexican timeshares have a five day cancellation period and this right is can´t be waived.
  2. If you can´t cancel your timeshare, determine a realistic price for it. Don´t take advise from timeshare resale companies as they will "sweet the coffee" and make unrealistic expectations trying to get money upfront from you to sell it. Search timeshare sales similar to your in websites  such as EBay or RedWeek. There you will find that timeshares loose their value 90% or even more when selling it in the secondary market. I know Is is frustrating the fact that you paid a lot more and you will not see that money coming back but at least you will save thousands of dollars on unwanted maintenance fees.
  3. Place ads on timeshare sites. There are many and the most important are TUG, My Resort Network RedWeek and EBay. The more exposure it gets, the quicker you will Cancel a timeshare. Take in consideration you will most likely receive cold calls from people claiming they have a buyer ready to pay but you need to pay transfer fees... hang up immediately; if you listen to them, you might become a victim of timeshare fraud. NEVER PAY UPFRONT TO RENT, SALE, TRANSFER, DONATE OR CANCEL YOUR TIMESHARE -I can´t say this enough-.
  4.  Respond all inquiries as soon as possible. There are lots of timeshares for sale so you need to catch them before they go somewhere else. Have all the info available for any questions they might have; The most common questions are, "What´s the maintenance fee?" or "How often can I use it?"
  5.  Don´t kill the deal; negotiate. If you get a low baller, make a counter offer. Think of the future maintenance fees you will be saving.
  6. Hire a closing company to do the transfer. ALWAYS use one approved by the ARDA -American Resort Development of America- to do the closing for you. the fees are between $300-$800 USD.

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 NOTE!!!!!!!!!!!!!!!!!!!!!!!!!

If someone or a company cold calls you claiming to have a buyer with thons of cash ready to hand over it to you, be careful. These companies will usually ask you to pay for fees in advance and later on you will discover that this buyer never existed. These companies make their money from people trying desperately cancel a timeshare.

Remember that to cancel a timeshare you don’t have to pay an upfront fee. Mexican Timeshare Solutions works under a contingency basis and only collect fee if the contract is fully cancelled, otherwise, no fee is charged. Contact MTS for a free consultation and s full advice on your timeshare matter. It’s time for you to get away from that contract.

Information to Share

If you liked this article, please help us to share this information to more people in order to avoid more timeshare scams victims, how?

  • Share this link http://www.timesharescam.com/blog/98-cancel-a-timeshare/ on your favorite blogs and forums.

 

Leave your comment below and share your opinion with us. To know more about timeshare scams go to: Timeshare Exchange

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25 Comments
  • Allan RossMay 9, 2016, 11:11 am

    Thanks for share also for the good tips, i ve tried many of them , but was impossible for me to do it , timeshare cancellations could be one of the most difficult things out there, for that i highly recommend you to check carefully what you sign , timeshare is a tricky thing , just avoid that.

  • Dario Cervantes Gaxiola Marzo 24, 2016, 10:50 am

    gracias por la informacion , aunque he de decir que es sumamente dificil aun sabiendo todo esto librarse de un tiempo compartido , lo digo por experiencia propia, no te contestan las llamadas y te dan muchas largas , y es mucho gasta dinero en estar iendo al resort si no eres de ese lugar, mejor evitense la fatiga y perdida de dinero en un tiempo compartido , de verdad yo me arrepiento muchisimo , actualmente estoy en la etapa de cancelacion gracias a este sitio , espero y esta ves si sea la buena .

  • ScammedSeptember 1, 2015, 2:25 am

    Scammed by the SUNSET GROUP in CANCUN. Anyone knows of ; or have a CLASS ACTION SUIT going on that I may join. ? PLEASE FOR VISITORS TO MEXICO DON'T DEAL WITH THE SUNSET GROUP.

  • Philip H.June 15, 2015, 12:56 am

    A timeshare is like a hole with no end, really people if you are thinking to acquire a timeshare you must think it twice before take out your money , and never go to a timeshare presentation , you must be very naive to felt on their words game ,stay alert so if you dont want to have a bad experience avoid timeshares.

  • rodriFebruary 27, 2015, 5:24 pm

    This could be the most difficult task to do in life ever, its near impossible to cancel a timeshare, believe , i bought one like 3 years ago and actually i stil have a lot of complaints with the resort salespeople , they pretend to demmand me if i stop paying , when i want to use is never available, so i dont know what is wrong with this people, i feel total scammed really.

  • MousaOctober 20, 2014, 8:19 am

    I'm in this conditions and also I have threatened by telephone that anger me move or worse, I would like to contact with you. I have a lawyer who is leading the cancellation but in spite of that I still threatening.

  • Cassie HutchinsSeptember 12, 2014, 2:44 pm

    In my experience it is going to be very difficult to get rid of your timeshares if you still owe money on them. Nobody is going to want to take over your debt plus be held liable for yearly maintenance fees.

  • EricaJuly 18, 2014, 2:11 pm

    me habria venido muy bien hace un par de meses, llevaba mas de 3 años queriendo deshacerme de mi tiempo compartido y eso parecia humanamente imposible

  • SBJune 30, 2014, 2:49 pm

    I’ve heard so many horror stories about timeshares. They are just way to expensive for what you get. And I personally wouldn’t want to visit the same place enough times to have the cost match the value. It just doesn’t add up for me.

  • MelanieJune 30, 2014, 8:07 am

    Before making a purchase, it is very important that you understand all the financial responsibilities you have when you own a timeshare.

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