According to the American Resort Development Association, there were approximately 1,582 timeshare resorts in the US in 2019, with an average occupancy rate of approximately 79%. As you listen to the timeshare company representative, owning the timeshare may sound like a great option. You may view it as a chance to vacation more while paying less.
Sadly, over 85% of timeshare owners regret their purchase, according to a study by the University of Central Florida. With most timeshare company agents overselling in their pitch, buyers end up spending more than they anticipated. As the contract is legally binding, you may also need legal recourse to help you get over your contract obligations. Here are four reasons why you need a reputable timeshare lawyer by your side.
1. Understand Your Legal Rights
As a homeowner in your respective state, you are probably aware of the different laws and regulations regarding homeownership in your jurisdiction. Owning a timeshare may mean owning a property in a different state, with different rules governing the ownership. A reputable timeshare lawyer can help you understand your rights as a buyer. Timeshare exit companies can also determine if any misconduct by the resorts as they pitched to you. Identifying these loopholes can help you file for a successful timeshare cancellation application.
2. Things Can Get Complicated Quickly
Dealing with a timeshare company when you want to cancel the contract can be a stressful period. The resort may try every strategy in their books to get you to stay. Besides, the maintenance fees may change over time, having you pay more than you were promised while signing the contract. These tactics can be frustrating. Involving a reputable timeshare lawyer can help the resort view your case more seriously, increasing your odds of ending the agreement.
3. Timeshare Rescission Period Is Often Short
If you choose to opt-out of a timeshare deal right after signing, you may need to keep in mind the period is often a short one. The time limit varies from one state to another, and reputable timeshare lawyers can help you understand the regulations within the state that you bought the timeshare. Generally, the period is between five to ten days. Timeshare exit experts can help you understand the fine print and assist you through the cancellation process.
4. You’ve Tried Everything Else
Trying to negotiate your way out of the timeshare contract alone may seem like a fruitless endeavor. You may have tried selling or donating your timeshare, only to realize it’s worth almost nothing out in the market. A reputable timeshare lawyer can have a sit-down with you to analyze the details of your contract. The law stipulates that the resort needs to provide potential buyers with certain information within the contract. Attorneys have experience in identifying and searching for disclosures required by law to make the contract binding. If the information is missing, you may have grounds for timeshare cancellation and exit.
Attempting to a timeshare exit alone can be a long and complex process. A reputable timeshare lawyer can provide the necessary legal assistance and help you design effective timeshare exit strategies. If you need assistance in getting out of a timeshare contract, reach out to Lonestar Transfer for a free, no-obligation consultation.