Sometimes in life, people make decisions that are not viewed as detrimental until many years later. Getting an odd tattoo, moving across the country, or getting married to a certain individual may all seem like amazing ideas at the time. Unfortunately, since nobody can predict the future or erase the past, we all must live with the decisions that we make and try to amend them if possible. One of these decisions that you might have made is buying a timeshare.
While buying a timeshare seems like a great idea most of the time, it is only made apparent after the purchase that this money could have probably been allocated elsewhere. Maintenance fees alone of timeshares averaged $1,112 per month in 2019. You could travel 12 weeks a year at several luxury resorts for that cost! In this article, we’ll talk about proven strategies for exiting a timeshare and how to do it quickly and easily.
Use a Timeshare Exit Company
Since the advent of timeshares as a real estate product, there have also been timeshare exit services that help people offload the deeds to these timeshares with relative ease. One must be careful about the timeshare exit company that they choose, as some have less than stellar ratings from the Better Business Bureau and high hidden fees. Regardless of these concerns, a timeshare exit company will help you re-title the deed to someone else, alert the timeshare company that you are no longer the owner, and get rid of any messy legal entanglements that may arise. When you use a company such as Lone Star Transfer, you can be assured that your timeshare cancellation or resale will go as smoothly as possible. Instead of worrying about how you’re going to pay this year’s dues, you can be free!
Sell on the Open Market
If you’re the legal holder of a timeshare, you can sell the deed on the open market. There are actually two websites that are well known for this, tug2.com and redweek.com, that allow you to sell a timeshare and receive timeshare exit support if you should need to. While many people will say that you can sell timeshares on sites such as eBay or Craigslist, this is only partially true. It technically can be done, but then one of the parties will probably have to hire a reputable timeshare lawyer to draw up the appropriate paperwork and make sure that things are legally sound. This will increase the costs significantly, and you might as well just go with the aforementioned sites instead. Doing so will save you time, money, and make a world of difference.
Stop Paying Your Dues
While you should never stop paying a loan or mortgage that’s outstanding, if you only have maintenance fees to take care of with a timeshare, a proven timeshare exit strategy is to stop paying these fees after alerting the company that you want to exit the timeshare. More often than not, this will give the necessary “push” to the company to help you exit the timeshare so that they can once again sell it on the open market. Because the maintenance fees are not a loan or other type of credit, you shouldn’t have to worry about your credit score being dinged, going down, or anything else that would be concerning financially. This strategy should be a last resort, and we highly recommend that you contact timeshare exit services before trying other strategies.
You Can Be Free
While it may seem impossible, it is possible to get out of a timeshare using timeshare exit services or various strategies to point the game in your favor. Companies such as Lone Star Transfer are a great example of the many reputable timeshare exit services that exist to service customers who no longer want timeshares, but stopping the payment of maintenance fees and trying to sell it yourself on the open market can also work. When you’re in a pinch such as this, it’s worth reading as many strategy articles as you can to try and find an edge. When in doubt, hire a reputable timeshare lawyer to help you iron out all the details and set your life back on track before it’s too late!