Sales pitches can be very convincing. However, reality will often dawn on you after you have already made your purchase. In fact, 41% of buyers never imagined they would regret signing up for a timeshare deal. However, among the 30% who were neutral before making a purchase, most of them ended up regretting their decision. If you are in this kind of situation, you will need to get out quickly. Here is how to cancel a timeshare.
Act Within the Timeshare Contract Cancellation Period
When it comes to how to cancel a timeshare, the quickest and easiest way to do it is to ensure that you act before the cancellation period ends. Most timeshare contracts offer a number of days when it will be possible to cancel the contract without going through a lot of legal processes. If your contract doesn’t indicate how to go about canceling within the cancellation period, look for a lawyer or visit your nearest state consumer protection office.
Cancel the Contract in Writing
The most effective way to cancel a timeshare is to put it in writing. Find out how to write a timeshare cancellation letter. Even if the company indicates that they do not require a timeshare cancellation letter, it is highly recommended to draft and send one. Here is some of the information that you must include in the letter:
- Your full name as they are on the contract
- Your contact details, including your physical and email address
- Name of the timeshare company
- The date you signed the timeshare contract,
- A written statement indicating that you wish to cancel the contract.
In most instances, it might not be necessary to outline the reasons why you don’t want the timeshare anymore. Just indicating that you want to cancel the contract is enough.
How to Cancel a Timeshare After the Cancellation Period
In some instances, you might still be able to cancel the timeshare contract even after the cancellation period is over. However, if you want to do this, it is advisable to engage a lawyer who specializes in timeshare cancellation. You may also contact a real estate attorney to get advice on how to go about this process.
It is important to ensure that you follow the right channels when you want to cancel your timeshare. You must always keep in mind that the timeshare contract is a legally binding document. Therefore all your steps must be legally sound. If you are not sure how to go about this, you can also talk to a lawyer or find a law firm that specializes in timeshare cancellation.