That´s not only you the one who wants to cancel a timeshare

Published by Pamela Syrillus on

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What you must know if you want to cancel a timeshare contract

If you´re searching through the web for some “magic spell” to cancel your timeshare contract, then we will predict your story in a few lines.

Over time, maintaining your timeshare can grow to be cumbersome, expensive or even impossible. Statistics tracked by the Bureau of Transportation show that the average cost of airline tickets to timeshare destinations like Orlando, Miami and Las Vegas have fluctuated so much in the past two decades, and it´s become almost impossible for the average consumer to budget for travel costs. This, in turn, leads them to inadequately plan for the full cost of owning and using their timeshare.

Aging and other lifestyle restrictions can also prevent easy travel, making ownership much more unmanageable. When owners experience these setbacks, that’s when they start looking into canceling their timeshare and find that their resort is not willing to help them exit: So, here are the most important facts which you must have to know.

Could I legally cancel my timeshare contract?

cancel a timeshare

Yes! You can, but you had to think quickly about the mistake committed, because this type of agreement has an approximate period minimum 4 to 7 days after signing the contract in which you will be able to change your mind before the document has legal effects, although the laws are different in all States.  The recommendable in this situation is to advise on the subject to the legal way.

In Mexico, PROFECO has put at the disposal of the user’s informative brochures so that you have in your knowledge what are your rights when acquiring a Timeshare for the provider to do responsible for their obligations.

Right to Cancel a Timeshare in Mexico

If you purchase a timeshare in Mexico, U.S. laws do not apply to the transaction. So, even if your home state strictly regulates timeshare sales, those state laws do not apply to you when you purchase a timeshare in Mexico. Instead, you’ll be subject to Mexican law. By law, in Mexico, you have five business days to cancel a timeshare contract after you have signed it. The sooner you act, the better. The right to cancel cannot be waived. If you try to withdraw, the timeshare salespeople may tell you that you waived this right when you signed the contract. This is not true. Mexican law stipulates that purchasers are legally entitled to cancel a timeshare contract without penalty.

Do I need a timeshare cancelation lawyer?

There is an essential industry of lawyers who assist owners trying to get out of their contracts. They have experience dealing with timeshare developers and HOAs and have a broad perspective on what’s possible because they interact with many owners.

Legitimate timeshare attorneys will advise you whether you may have valid legal claims to cancel a contract (or even attempt to get your money back). They know how to contact your resort with demand letters and handle the negotiations on your behalf.

One additional advantage of hiring an attorney is that, once your lawyer has contacted your resort, the HOA can no longer communicate directly with an owner. From there on out, all resort-to-owner and creditor communications go to your lawyer.

Timeshare attorneys tend to charge an upfront fee ($3,000 or more) to handle an owner’s contract cancellation. In 95 percent or more of all cases, the lawyers try to arrange a simple settlement with the timeshare company to terminate your contract. However, when the facts support it, the lawyers file lawsuits to litigate contract issues. The threat of litigation triggers settlement talks.

Writing  a rescission letter is the best way to exit a timeshare contract

cancel a timeshare

Before you waste your time calling at the resort, write a cancelation letter. When you send a certified letter you will have evidence of date and time when it was sent and also when it arrived. it is advisable to save a copy for your files since having physical proof that you requested the cancellation in the corresponding time will give you enough pieces of evidence so that, in case you are not granted the dissolution in those days, you serve as proof before lawyers or judges (to reach such a degree).

However, stating that you want to cancel a contract will not cancel your contract unless the person on the other side knows what agreement you are referring to. You are not the only one that has a contract signed with that company. It’s also likely you’re not the only one writing a timeshare cancellation letter. If you don’t provide information that helps them find your contract, then the entire process will end up delayed.

A Timeshare rescission letter that works?

In the introduction, you need to state when you purchased your timeshare. You also need to provide the name of the timeshare resort along with order number and name.

You aren’t the only one that bought on that day. The company won’t know who you are and what timeshare you own until you provide all the details. Insert your email address in your cancellation letter too. Provide all of this information because otherwise your rescission might simply get delayed. If this happens, you’ll end up stuck with the timeshare for longer than if you had just done nothing.

Research on the company’s website that you hired, about other people in the process to cancel their timeshare too, they could be a  great help.

Read carefully your contract and search for every detail about:

– The assets value provided

– Location

– Supply and demand property you were granted

– Occupancy period

– The fulfillment of each one stipulation in your contract and any reason for requesting a cancellation

Now that you are ready to write all your disagreements, be honest and kind if you want to be heard.

The most natural and easy ways to legally cancel a timeshare contract (2019)

Many timeshare owners assume their timeshare contract have an inherent value, like real estate, that can be sold on the resale market (like a used car). Unfortunately, that is not always true, especially for older legacy timeshares or others where the supply exceeds demand. DR. Timeshare recommends that owners do as much research as possible to determine the practical resale value of their intervals.

There are several ways to do that, beyond just searching blindly on the internet (where you will run into companies that guarantee high prices for timeshares that may never be sold).

One generally reliable method is to contact a member of the Licensed Timeshare Resale Brokers Association (LTRBA), a group of about 64 brokers who specialize in selling and renting timeshares — they will typically give you a free estimate.

cancel a timeshare

Regardless of which service you use, owners who want to cancel their contract, for whatever reason, will benefit by seeking out professional advice about the value of their timeshare. That information will influence your decision to sell, rent, or (maybe) abandon your interval. Also, be prepared to swallow the pain that your timeshare is not worth what you paid for it.

Get ready for sale or rent your timeshare

After all, this, consider posting your timeshare for sale or rent it out to recover some of your expenses.  Redweek provides these services to millions of subscribers with a lot of options available. Many licensed timeshare brokers will provide this service as well. LTRBA brokers tend to handle only high-value, brand-name timeshares that can be resold on the resale market (such as Disney, Marriott, Vistana, Hyatt, Wyndham, and Hilton), usually for a fraction of their original price.

These brokers typically charge $1,000 or more to handle a transaction, but they also take care of all the paperwork. Selling your timeshare will take a long time, but high-value, high-season Intervals do tend to rent reasonably soon. So, bottom line, renting your timeshare is a good way to buy yourself time while figuring out your exit plan.

Top 10 Websites for legally cancel your timeshare

1.The Timeshare Authority

The Timeshare Authority is a timeshare blog devoted to the vacation ownership industry. We cover all areas of timeshare news including resort development, HOA updates, owner information, and more. Follow this blog for the latest timeshare news and information. Timeshare tips and advice for timeshare owners, buyers, and renters.

2.RCI

RCI opened the first vacation exchange program in 1974 and is still in operation today. Users can exchange time at their home resort for a time at another member’s resort, allowing customers to vacation anywhere in the world.

3. RedWeek

About Blog The largest online marketplace for renting, buying, and selling timeshares. Get travel news and information from the #1 online market for timeshare rentals and resales.

4. Wyndham Vacation Resorts

Wyndham Vacation Resorts offers numerous vacation resort timeshares across the United States and in the Caribbean. It currently provides over 900,000 families points-based vacation products that they can use at over 190 locations.

5. TUG

About Blog The Timeshare User’s Group started in 1993 by a group of Timeshare Owners just like yourself, is a family run self-help organization providing an unbiased source of consumer oriented information and advice on Timeshares and the Timeshare concept. Here at TUG, you get the truth about timeshares!

6. Mercado Club Vacacional

The team Mercado Club Vacacional has managed to create a vast network of alliances With vendors, buyers and renters of timeshares or vacation club since early 2011.

7. Timeshare Exit Team

About Blog Timeshare Exit Team is a consumer protection group dedicated to helping consumers burdened, stressed, or tired of timeshare ownership. Check out this blog and read what’s new. Their goal is to educate you, so you better understand the timeshare and timeshare exit industries.

8.Fab Timeshare

About Blog No.1 for Marriott Vacation Club timeshare resales in Europe! Our mission is to help people safely buy or sell luxury timeshare, specializing in Marriott Vacation Club European Resorts.

9. Timeshare Cancel Center

About Blog, Our timeshare exit team services are for people who have purchased a timeshare and now need to know how to get out of a timeshare contract. Our timeshare exit team experts can help you get a timeshare cancellation or learning the dangers of timeshare resales, selling timeshares. Here you will find information on Timeshare Cancellation, Timeshare Scams, Timeshare Resales, Timeshare Attorneys and more.

10. Premier Timeshare Resale Blog

About Blog, Premier Timeshare Resale with RE/MAX is composed of licensed Real Estate Agents who know and understand the timeshare and fractional industry. Our mission is to legitimately, ethically and professionally bring buyers and sellers together for the sale of previously owned timeshares called ‘timeshare resale.



8 Comments

Robert Nos · March 11, 2019 at 5:15 am

useful info, thanks for your web sites list. I have tried to sell my timeshare in one of these sites, I don’t responses yet, but I’m still waiting

Lily Cruz · March 19, 2019 at 5:21 pm

I wanted to cancel my contract but now I am seeing that there are many sites where you can show it, so I’m gonna do that. I want to sell it or rent.

Laura L · March 26, 2019 at 5:44 pm

Thanks, I was wondering exactly the same if I did need a lawyer in order to cancel my timeshare.

Rose MO · April 16, 2019 at 7:37 pm

I did write a rescission letter, but they never answered me. What can I do?

Kate Hillios · April 20, 2019 at 7:29 pm

I emailed once to a new site where they helped me with some assistance.

Resort Legal Team · July 31, 2019 at 8:20 pm

Thanks for the article. Many people are not happy with their timeshare they should follow this. you can try Resort Legal Team for cancel timeshare contact on : http://www.resortlegalteam.com .

Resort Legal Team · July 31, 2019 at 8:21 pm

Thanks for the article. Many people are not happy with their timeshare they should follow this. you can try Resort Legal Team for cancel timeshare

Scott M · August 29, 2019 at 1:17 pm

Timeshares can be really hard to get rid of!. If you want to legally cancel your timeshare, try Montgomery & Newcomb LLC. Contact: https://montgomerynewcomb.com/

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