There are a lot of reasons why people enter into timeshare agreements. Many, for one thing, entered into their contracts decades ago, when less was known about timeshares. People didn’t realize the drawbacks of these systems, and once they signed their contracts, they gave up on getting out of them. Some people still sign on to timeshares today, in part because they want to make their vacations more attainable and affordable. At times, there is just a case of buyer’s remorse at play. An estimated 41% of all buyers thought they would never regret their purchases but ended up doing so. About 30% of them were neutral about buying, but came to regret their decisions.
No matter why you’re looking into how to exit timeshares legally, you have valid complaints. Timeshares aren’t necessarily all that people think they’ll be. With that in mind, let’s look into some of the major signs that you should learn more about how to exit timeshares legally.
1. Maintenance Fees
When you sign up for a timeshare, in many ways it’s much like you’re purchasing property (without many of the legal benefits that come with ownership. But you may not be prepared for the amount of maintenance fees you’ll be paying. Ostensibly, maintenance fees are meant to contribute to the upkeep of your timeshare. But the reality is that many people simply don’t see the results, often complaining about how much they’re paying and how little it’s reflected in their timeshares and their quality. Even once you’ve “paid off” your timeshare, you’ll still pay the maintenance fees.
2. Limited Availability
Another reason why people seek to exit timeshares legally is that they simply don’t have the access they thought they would. Perhaps your timeshare doesn’t offer as many resorts or units as you were led to believe. Maybe you can only access the resorts you want by paying for a specific type of ownership. Either way, you’re not getting what you thought were paying for.
3. Lack of Resale Value
You may have been sold on your timeshare as an investment. But many timeshares have little or no resale value. If you attempt to exit through a sale, you’ll be losing out on money rather than gaining anything.
Exiting a timeshare is hard, but it’s not impossible. Research your options as soon as possible. If you own a timeshare and are questioning if you should exit it, these are your signs. Give us a call today to legally exit!