The Best Way to Get Rid of That Timeshare – Options to Choose from
If you are a timeshare owner tired of having to spend your vacation in the same place every year, if the fees you need to pay for timeshare maintenance have been increasing uncontrollably for a while or you have other reasons why you want to get out of your timeshare contract, you must know that despite the generalized opinion that timeshares are impossible to dispose of, you have several options that you can use to get out. It might not be easy to obtain relief, but here is a short outline of your options so that you can choose the best way to get rid of that timeshare in your particular situation.
Have a Close Look at Your Contract
One of the mistakes made by many unhappy timeshare owners is not taking the time to read the contract before signing it. The presentations where potential timeshare buyers find out about available properties and about the conditions of the purchase are usually so convincing, the properties and the proposed fees are so attractive that many buyers jump into the purchase without familiarizing themselves with the terms and conditions included in the contract or without showing the contract to a timeshare attorney Phoenix area who could point out the potential pitfalls.
If you are an owner who has skipped that essential phase, do it now. You may find that you are still within the grace period specified in the contract – the period during which you can change your mind and cancel the contract without having to pay any fees. In that case, all you need to do is to send your seller a written notification in which you express your intention to cancel the contract.
Contact Your Seller for a Take-Back
There is a slim chance that your timeshare seller might want to take the property back for a discounted price, especially if the property is located in a spot that is in high demand. Though the supply of timeshares is usually much higher than the demand for them, there is no reason why you could not try this method – it is certainly the easiest way to get out of your timeshare.
Sell the Property
You can also try to sell the property. You can try to offer it to the owners who use the property right before or right after your period, hoping that they like the property and are interested in extending their yearly stay there or you can advertise it using real estate listings, ads in local printed media and in the specialized sections of auction sites. If this is the method that you pick, be prepared that it might take a while to find the best buyer.
Turn to a Lawyer
You can also choose to turn to an attorney who specializes in timeshare cases. Your lawyer will assess your case and will propose several possible solutions, telling you about the pros and cons of each approach. Timeshare lawyers take not only cases in the litigation phase – they also handle negotiations and amicable agreements, helping you to get out of your timeshare contract without a court of law being involved.