According to research, 85% of timeshare owners are unhappy with their purchase. This is not all that surprising considering that analysis from Consumer Reports states that timeshare costs roughly double that of regular vacations.
Escalating maintenance fees and hefty interest payments are often what drive people to look for a way out of their timeshare. Others simply want a change or don’t want to burden their children with inherited timeshare plans.
Unfortunately, timeshare schemes can be complicated to exit. This leads timeshare owners to seek out timeshare exit teams. However, what’s even more unfortunate is that many of these exit schemes are outright scams.
Thankfully, not all timeshare exits teams are untrustworthy. Read on to find out the top 3 things to know about timeshare exit services to help you find one that is reliable.
1. Many Time Share Exit Teams Are Scams
As mentioned above, there are a lot of shady timeshare exit teams out there. Some of these will propose to release you from your timeshare plan via legal routes. Others propose to sell your timeshare on your behalf through second-hand timeshare markets.
These timeshare exit ‘real estate agents’ will often promise you a lucrative sale on your timeshare property, while asking a large upfront listing fee.
In reality, the second-hand timeshare market does not see all that much demand, making it unlikely that you will realize a gain on your timeshare property. You might experience a loss—or no sale at all—while still having to foot the hefty listing fee.
2. Large Upfront Fees Are an Indication That a Timeshare Exit Team Might Be Scam
Speaking of upfront fees, one of the warning flags of a potentially untrustworthy/illegitimate timeshare exit team is hefty upfront fees.
Another warning sign is not consulting clients individually before proposing a timeshare exit plan.
In our experience, timeshare owners’ circumstances differ. This has a significant impact on what solutions they should pursue to exit their timeshare. If a company is offering you a one-size-fits-all solution, this probably either won’t work or isn’t even intended to work as the whole offering is a scam.
3. Legitimate Timeshare Exit Teams Have Good Reviews and Ratings
One way to vet out reputable and genuine timeshare exit teams is to research their reviews and ratings.
A timeshare exit team that is genuinely doing what they say they do will likely have racked up a collection of positive online reviews.
Additionally, you should also check for ratings from organizations such as the Better Business Burea (BBB). While online reviews can, in some cases, be faked, a Better Business Burea rating usually can’t.
To ensure that you work with good people who are who they say they are, look for a company with an A+ BBB rating. To gain an A+ rating with the Better Busines Burea, organizations need to be compliant in licensing, conduct honest business, be 100% transparent in their marketing and offerings and have a strong history of conflict resolution.
If a timeshare exit team’s BBB rating is low, or they don’t have one, you might want to think carefully before engaging them.
If you are investigating timeshare exit teams, we encourage you to take a look at our services. While the timeshare industry is rife with ripoffs, there are timeshare exit teams that are reliable and honest in their offerings. We pride ourselves on being one of these.