When people enter into timeshare agreements, they usually have dreams of having affordable vacation properties for the future. But oftentimes, buyer’s remorse will set in when you realize that this was an impulse decision, and you might not be able to use the property at a time of the year that favors your schedule. In fact, according to The Washington Post, roughly 41% of buyers regret timeshare agreements. Fortunately, you can cancel a timeshare agreement if you act quickly and get the right professional help. You should consider involving a timeshare exit expert to help make sure you exit correctly and legally. So, how do you exit such an agreement?
1. List Your Timeshare
You can list the timeshare agreement for sale. If you decide to do this, check if the website has up-front payments to avoid getting conned. Some companies have massive upfront costs for what they term as listing on exclusive websites. You can also talk to people who subscribed to agreements a week before or after you did. You might not know them, but you can get their names from the owner’s directory. You can also contact the courthouse where the agreement was filed and request a copy of the agreement. A reputable timeshare exit company will be able to help in communicating with the courthouse on your behalf.
2. Stop Making Payments
Before you stop making payments, consider your situation. If you took an advance to secure the agreement and still have a balance, ceasing payments would affect your credit. But, if you stop making payments with no loans, the resort won’t report it to credit bureaus. Stopping payments is often the shove timeshare resorts need to allow you to exit the agreement. Why? Surrendering usually costs them less than property foreclosure. Of course, make sure you consult with an expert before taking this measure.
3. Write A Cancellation Letter
If your agreement is still in the rescission period, you can cancel it. To do this, you must write a cancellation letter that informs the timeshare resort of the cancellation and mail it to their withdrawal address. Note that timeshare resorts are sneaky; they either hide the address using a small font or don’t include it in the agreement altogether. If you can’t find this address, ask them for it. You can also involve a timeshare exit expert to help you get this information from the resort. After all, you’re entitled to this information. A timeshare exit expert will also be able to help you craft the letter based on the agreement.
There are numerous ways to exit a timeshare agreement. Remember, hiring a timeshare exit expert to oversee the cancellation of the agreement is the smartest option you have in order to make sure everything is done correctly. If you’re looking for an expert timeshare exit service, contact us today at Lonestar Transfer!