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Dec 15, 2020 · 3 Proven Ways to Get Out of a Timeshare First, call your vacation property, then try these exit strategies Avoid using timeshare exit companies that require upfront payments.
May 25, 2023 · To get out of a timeshare legally, consider these options: Use the rescission period. Call the timeshare developer. Rent your timeshare out. Sell your timeshare on the resale market...
- Emma Kerr
- Editor
- Check Your Timeshare Contract. Many timeshare contracts contain a retraction or rescission period. This can be called a “cooling off” period. It’s a period of time after you sign the agreement in which you can cancel.
- See if the Company Will Buy it Back. In some cases, the timeshare company will buy it back. This is rare, but it does happen. Note that they likely won’t give you the full price in a buyback.
- See if the Company Will Take it Back for Free. Some companies won’t buy timeshares back. However, they might take them for free. Yes, this is a colossal loss of cash.
- Sell Your Timeshare. In some cases, you can sell your unwanted timeshare to someone else using a specialized realtor. As with the buyback, you’ll likely sell it for less than you paid.
But before you sign a timeshare contract, make sure you understand what you’re getting into — and how to get out of it. If you’re already in a timeshare and want out, start by contacting your timeshare company.
- Hire a Licensed Real Estate Agent. One method you can use for selling your timeshare is to list it with a local real estate agent. It’s important to keep in mind that when it comes to selling a timeshare through an agent, you should look for real estate agents who are experienced in timeshare resales.
- Use a Timeshare Exit Company. Another potential option you can try if you’ve determined that your timeshare is no longer worth it is a timeshare exit company.
- Timeshare Listing Company. When it comes to timeshare resale, timeshare listing companies connect timeshare sellers with potential buyers and/or renters.
- Rescission Laws. Most timeshare sales come with the requirement to abide by state-written rescission laws that can help you get out of your timeshare.
May 29, 2024 · Here is a step-by-step process for how to get rid of a timeshare that’s paid off: Check if your purchase agreement allows you to sell directly to a new owner or if your timeshare developer has first dibs on buybacks via a "right of first refusal" (ROFR) clause.
May 30, 2023 · Unloading a timeshare property isn’t always easy, but some of your exit options include: backing out during the “rescission period,” reselling it yourself, hiring a broker to resell it for you, and hiring a timeshare exit company to take care of the whole separation process.
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