If you’ve purchased a timeshare at any point in the past, you’ve probably become aware that it perhaps wasn’t the smartest purchase you ever made. What seemed like a great idea at the time has ended up becoming quite an inconvenience, and the thought of how to get out of a timeshare purchase has probably come across your mind at some point. Don’t worry, it’s not impossible to do a timeshare exit, but it does require some planning and initiative.
In this article, we’re going to give you practical steps for how to get out of a timeshare purchase that anyone can follow. Some of them are mental, and others are legal and technological. When combined together, you should have a great tool kit that enables you to get the timeshare cancellation you desire without stressing you out too much or breaking your bank account. Follow along with the article below to find your best way on how to get rid of a timeshare legally.
Accept That You Made a Mistake and Move On
Not only are timeshares restrictive in their dates, locations, and amenities, they simply don’t make financial sense. With the average price of a timeshare interval being more than $21,000 according to the American Resort Development Association, if a buyer takes out a mortgage at a 10-year loan and up to 17.9% interest rate, they would end up paying $41,000 for their timeshare. In almost every case, you would be better creating a high yield savings account for yourself and socking away money for extravagant rentals than you would be purchasing and being obligated to a timeshare. This is a simple reality, and once you accept it you will find it much easier to move on.
Try to Sell it on the Open Market
Lots of people will tell you that it’s impossible to sell timeshares, but that’s not true at all. It’s simply much more difficult than selling other things online or elsewhere and you’ll be better off if you use specialized services to do so. If you’re more of a DIY person than most, you can use sites such as redweek.com or timesharemarketplace.com to figure out how to get out of a timeshare purchase. Many times this will take place with an escrow transaction in which you sign over the deed of your timeshare to another party who will pay the maintenance fees and costs. It is not recommended that you sell your timeshare over common sites such as Facebook Marketplace, eBay, or Craigslist. Not only are these sites open to scams, but they can’t provide any legal help or advice should something go wrong.
Use Timeshare Exit Services
Timeshare exit services are one of the most recent and innovative solutions to hit the timeshare market in quite a while. Companies such as Lone Star Transfer and others exist to help the consumer figure out how to get out of a timeshare purchase in their area as quickly and efficiently as possible. Many have at least one reputable timeshare lawyer on staff to help navigate the complexities that can exist in this market and have seen every type of contract, black-out date, and restriction that there is. Rest assured that if there is some way for you to exit your timeshare (and there’s always at least one), they will find it and help you figure out how to properly use it to gain your freedom. By using timeshare exit services, you’ll be employing the help of people that are truly dedicated to getting you out of your timeshare legally within a preferred window and schedule. Your happiness and freedom are their incentive to work with you to get you out!
Many Ways to Exit, Just Pick One
As you can see, there are many ways to exit a timeshare legally and efficiently. For many people, the mental hurdle of admitting that they’ve made a financial mistake can keep them from trying anything else. Once you’ve accepted that having a timeshare is a bad decision for you and your family, you can start looking at other options to exit your timeshare and move on with your life. Once you pick one, you’ll be on your way to happier future days!