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How to Cancel Your Timeshare and Save Money

12/15/2021

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Maybe you didn’t always dread seeing your savings dwindle as your timeshare payments and maintenance fees were taken out. But somewhere along the way, you started feeling trapped like 85% of all timeshare owners. And who could blame you, really? The average cost for a one-week stay at a timeshare these days is an amazing $21,455. Timeshare cancellation can be a bit tricky to navigate, but there are exit strategies that work. Here are a few options to help you take ‘cancel timeshare’ off your to-do list.

Use The rescission Period

If you’re still very early in the timeshare process, there is a very short window of time where you can rescind your buying decision and walk away. This stretch of time varies by state and may be just three days (in states like Indiana) all the way up to 15 days (in Alaska). It’s also important to remember that the rescission laws apply where the timeshare is located, not where you live as the buyer. Review all of your timeshare documents and research your state’s laws to find out if you can use this as an out or not.

Deed-Back

Some ways of getting rid of a timeshare are surprisingly simple and straightforward. One of these is simply asking the resort to take the timeshare back. This is a legal and low-cost way of canceling your timeshare and should be available in most contracts. If you need to cancel timeshare vacationing fast, this is a great option to investigate.

Sell Your Timeshare

If you’re past the rescission period and the resort isn’t interested in buying your timeshare back, you can always take the next best option and sell your timeshare to someone else. This is a longer-term option to cancel timeshare living as it can take a while to find the right buyer, even if you have all your ducks in a row as the seller. Still, it’s well worth investigating if you have the extra time, or you’ve run out of other viable options.

The Bottom Line

Working with a timeshare exit company can be very beneficial to help you with the process. They can aid you with the legal process and anything that may be confusing along the way. If you are ready to get out of your timeshare, contact us today!

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