How Long Does It Take to Exit a Timeshare Contract?


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Timeshare Contract

Pandemic changed our lives massively, and many industries were affected. The major impact was levied on the traveling industry. Due to this, most timeshare owners wanted to get rid of their timeshare contracts.   

Although there can be many reasons, people want to be done with their timeshare contracts, like changes in their financial situations, health issues, etc. Whatever the case, one shouldn’t feel trapped and should know how long it would take and what ways to get out of their timeshare contract?   

Let’s see what the ways are and what is the period to get out of the timeshare contract:  

Period to get out of the Timeshare Contract:  

The average period of getting out of a timeshare contract can vary between 12 –18 months. This is because while you signed on the Timeshare, several contracts might be attached to it. Getting rid of every one of them will require a lot of time.  

Each time you made changes to your vacation plan timeshare company must have added a new contract to your old one. As a result, the number of contracts would have increased massively over time. So, if you want to be done with your timeshare contract, you would have to cancel each one individually.   

As this is not a work of a layman, let’s see how can you get rid of your timeshare contract:  

Ways to eliminate timeshare contracts from your life 

Hire a well-renowned timeshare cancellation company:  

Instead of hiring an individual attorney. You can go with a team of people who know all the ins and outs of getting rid of a timeshare contract. A good timeshare exit company will save your time and your money from getting wasted. But do make sure to check their proven track record and also go through their reviews.   

One company that has been helping timeshare owners get out of their contracts is Timeshare Freedom Group. It is a well-renowned company helping timeshare owners get their money back. You can go through Timeshare Freedom Group reviews to know more about them.   

Make use of the recission period:  

With the help of the recission period, the timeshare owners get a short period to get themselves out of the contract. If we talk about the US, each state has its recession periods. The minimum time a state gives a person to walk out of the contract is three days, and the maximum is 15 days.   

A Deed Back:  

Even if you have missed the recission period, there are still plenty of ways to get out of Timeshare. One of the methods is a timeshare deed back. With this, you get an opportunity to give back the property to the resort.   

But this option is only feasible when your paperwork allows it. You can also try a slightly different method. Talk to the sales manager and offer them some incentive to buy back Timeshare.   

Sell Your Timeshare:  

If you are eager to get rid of your timeshare contract, the best way is to consider selling it. But, first, check whether any loan is attached to your timeshare contract. If the contract has a loan attached to it, it is quite difficult to sell it until the loan is paid off.  

Once the loan is paid, you can contact a real estate agent to move on with the selling process. First, figure out the worth of the Timeshare and then list it on a website. Then, even if the cost is not much, you can save all the maintenance costs. 

There were ways that one could use to get rid of their timeshare contract. But there are some strict no’s that you should keep in mind:  

Things not to avoid while dealing with Timeshare cancellation:  

Renting the Timeshare:  

Many might suggest you rent out your Timeshare, but this is not a feasible option. First, most of the resorts don’t even allow it. Second, if the renter is not someone who is a responsible person, then you might end up paying a lot of money for repairs. Finally, even if the renter still pays you a few bucks, you won’t be able to cover the cost.   

Giving the Timeshare away:  

This might sound quite a generous option, but in reality, it is the opposite. When a timeshare is a headache for you, then why give it away to your loved ones and create chaos in their lives?   

Conclusion:  

A timeshare might be a good investment for those who have money-filled pockets. But if you are someone who does not have money to spare on such things, then canceling your contract is the best option. Hiring a good cancellation company like Timeshare Freedom Group reviews is the best option that you can go with.


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