It is reported that the timeshare industry in the United States today is worth $9.2 billion.
Unfortunately, many of the people who have invested in timeshares over the years have come to regret their decision. Timeshare contracts involve a commitment for an indefinite period, and the expenses involved can become very significant over time.
For these reasons, many timeshare owners choose to hire lawyers to attempt to have their contract voided.
Read on as we look at when it might be a good idea to hire a timeshare lawyer.
Reasons to Get out of a Timeshare
A timeshare is an investment whereby buyers receive a share in a vacation property. In exchange for a given sum, they get the use of the property for a week or so of the year.
While this sounds like a reasonable idea, it ends up being a disaster in many cases.
Why? Mainly because timeshares are expensive.
The average cost of a timeshare was reported to be $19,000 in 2012. Other than the outright purchase price, there is also an annual maintenance fee in most cases. This was reported to be about $660 on average.
This might represent value for money if you were to vacation there every year. However, other accommodation options would almost certainly be cheaper. Even the maintenance fee alone would be enough to get a decent hotel room for a week.
How to Get out of a Timeshare
There are a number of ways to legally escape your obligations under a timeshare agreement.
One option is to cancel. There is no market for second-hand timeshares. However, you can expect many scams to say otherwise.
If you have already experienced that , you may have to look to our timeshare specialist.
We employ a couple of methods of relieving clients of the burden of a timeshare contract.
Our approach in many cases is known as mortgage cancellation. This involves investigating the timeshare agreement struck between the owner and the seller, and trying to find grounds for invalidation.
Many timeshare salespeople make misleading statements when selling their product. They may also omit key details about the agreement.
This kind of negligence may amount to a breach of consumer protection law. If this is the case for you, you will likely be entitled to have your timeshare mortgage canceled.
Lonestar is a rarity in the timeshare exit business in that we have been operating under the same company name for eight years. Many timeshare exit firms make a quick departure from the business at a convenient time, only to reappear shortly afterward under a different name.
With Lonestar, you’re getting years of industry experience. Our service is one you can rely on.
Is It Time to Hire a Timeshare Lawyer?
If you’ve decided that your timeshare investment wasn’t your wisest move, it might be time to call our timeshare specialist.
If you’d like to begin the process of exiting your timeshare, schedule a free consultation today.