Daily Archives: August 15, 2018

A Quick Guide to Cancelling Your Timeshare

Timeshare colorful word on the wooden backgroundA timeshare is a program wherein a group of individuals shares the rights over a property. This setting is also known as vacation ownership or fractional ownership. The property can be a luxury home or vacation accommodation in a hotel or resort.

There may come a time that having a timeshare is not anymore a good idea – much like a buyer’s remorse. You cannot simply get rid of it though because it can lead to foreclosure and may hurt your credit. The best way to tackle this is to cancel your timeshare contract as quick as you can.

Getting Out

In many instances, the best way to cancel your timeshare is to sell it through the help of a resale broker. A resale can be much faster if it’s a highly desirable property in a prominent holiday area. In case your share is not as marketable, you can still sell it but remember that it could mean potential loss.

Don’t listen to people who say it’s impossible to run away from your timeshare. There is a legal way to end this without causing harm to your reputation and credit. In addition, the industry now has regulations set in place to protect you. Most states allow contract cancellation usually within a week or so.

Getting Professional Help

The good news is there are agencies that can assist you in the entire process of cancelling your timeshare. This is particularly helpful for people who are new to this kind of leisure property investment. These companies can help you cancel and resell your share.

They also provide other relevant services such as contract reviews, negotiations, and settlements, as well as assistance on other real estate concerns you might have.

The concept is like buying a holiday time rather than buying an entire holiday property. This means you are only paying for a fraction of the cost of a year’s worth of owning and maintaining a leisure property.

There is nothing to worry about when you’re planning to enter or cancel a timeshare and you’re not confident about your options. There are agencies that are more than ready to assist you along the way. With professional help, it’s easier to decide and make the most out of your leisure investment.