Vacation ownership is a growing industry. Still, many timeshare owners consider their timeshare purchase a mistake and look for ways to get rid of it. Whether due to tough financial circumstances or changed vacation preferences, sometimes even happy timeshare owners need a change. This leaves them with confusing options, i.e., sell or cancel a timeshare. If you are also facing the same situation, you might be wondering, what is the right way to get rid of a timeshare?
Read on to know!
Is timeshare cancellation a safe option?
One option that vacation timeshare owners have is to cancel a timeshare. There are many timeshare cancellation companies out there that help owners offload their timeshare. However, some timeshare companies charge a hefty upfront amount and claim to transfer your timeshare to another party.
These timeshare companies generally work with a shell company. Once you pay the upfront money, the company transfers the timeshare title to the shell company. If they don’t hold up their bargain and the resort developer forecloses the property, your money is at risk.
Thus, if you want to cancel a timeshare, look for the best timeshare cancellation company that can help you get rid of your timeshare ownership legally. Also, you need to beware of the companies that are too good to be true. Make sure to research the companies and work with the legit ones with a proven record of timeshare cancellation cases.
How to sell your timeshare legally?
If you don’t want to take the timeshare cancellation route, selling it in the online marketplace is another option. Timeshare companies charge steep fees for their advertising services that may or may not sell your timeshare. Thus, researching potential companies thoroughly before making a commitment is important.
Work with a company that uses innovative marketing platforms to attract many buyers for the property. The company should be an expert in timeshare resale. Remember, the timeshare industry is complex. So, you need to look for a resale company that understands the market inside and out.
Furthermore, the resale company you choose should be able to refer you to a reliable timeshare broker. Having an experienced real estate agent by your side to guide you can help. These realtors can negotiate the closing costs on your behalf and refer you to a good timeshare company that can perform the work hassle-free.
Terminating the timeshare contract
There are some other ways to rid of a timeshare too-
- Timeshares come with a grace period within which you can cancel them effortlessly. If you want to withdraw from the terms of an agreement or legal causes, you can do so easily during this period.
- In some cases, it is also possible to cancel a timeshare after the grace period too. The process becomes a bit difficult, though. Also, the chances of successfully terminating a timeshare reduce as the time passes. Due to this reason, it is recommended to work with a professional timeshare attorney.
Should you cancel or sell your timeshare?
Well, with economic uncertainties that can wreak havoc on your finances, it is good to get out of a timeshare by canceling it. Look for an experienced timeshare company that understands the industry inside and out. Conduct some research online, read customer reviews, or get in touch with someone who has worked with the timeshare company.
With professional help, you can easily get out of a burdensome timeshare and invest your money into a fruitful asset. So, what are you waiting for? Start looking for a good timeshare cancellation company now!