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Average Cost to Get Out of your Timeshare

If you are interested in the average cost before you start the process of your timeshare cancellation, you have come to the right place. From this article, you can learn about the following;

  1. What are the main reasons you should eliminate your timeshare?
  2. What are the common lies told by timeshare developers to get you to buy that property?
  3. Finally, what is the typical expense involved in exiting a timeshare using different strategies?

To learn more, please contact our team, or continue reading our article. We’ll answer many of your questions, including the average cost of getting out of a timeshare. Need more help? Call our direct line at +1 (833) 931-6555 to speak with one of our expert representatives.

Reasons to Get Out of a Timeshare

At first glance, timeshares always look attractive for vacations or even weekend getaways. But once your fees kick in, your timeshare can seem less and less appealing. Hopefully you realize this sooner than later! Cancelling a timeshare is more challenging than you think.

The main problems associated with timeshares are:

  • The maintenance fees are due regularly. Whether you use your resort or not, you must pay these fees.
  • Moreover, prices increase every year at a fluctuating rate since developers, timeshare companies, and the government impose these.
  • Timeshare contracts usually don’t have end dates.
  • Perpetuity contracts need payment throughout your whole life.
  • Future generations may also bear the burden of payment.

You can bestow the timeshare to your descendants, but the obligation never ends. If you owe money, collection agencies will keep calling you, causing more stress in your life. As time passes, your preferences will change. It is evident that in early ownership, people visit their timeshare.

Later on, they may want to stay somewhere else instead. Scheduling constraints are a more common problem with some timeshare kinds than others.

Timeshare salesperson's Common Lies:

Below are common lies, salespersons tell their customers:

Most tactics begin with a salesperson who promises to sell your timeshare to an eager buyer. They might charge an up-front fee for such services. Only to run off with your money and not sell your timeshare.

Other tactics include with categorizing a timeshare as an “investment opportunity.” They will even tell you that a timeshare is like “real estate” which is definitely not true. If this were true, then 80% of current timeshare owners would not want to get rid of their timeshares.

Sometimes salespersons’ may try to deceive you, promising a bonus week or a rental program. These incentives are a sales tactics, and the companies will not offer this later on.

They can deceive you by saying the annual maintenance fee will remain the same for a lifetime. This is not the case; it will increase at approximately a rate of 4% each year. They can tell you to sell your timeshare weeks to make money.

You might find it beneficial to check out eBay or Craigslist. Be prepared for a surprise though, as current listings on these sites can be surprisingly low, even down to $1 or free!

Salespeople will promise to offer discounts on airfare, cruises, and car rentals. Later on, they will deceive you about it. A salesperson can advise you to rent your timeshare later on. However, finding a renter is hectic.

Average Cost required to Get Out of a Timeshare

The cost to exit a timeshare varies based on the method you select to eliminate it. We will discuss these methods in detail below:

Rescission

Most countries have their own timeshare rescission laws. These laws allow owners to get a full refund from the timeshare company if their recession period is still active. This method is cost-free but requires time and patience. Here’s what you may need to know about the rescission period of your timeshare.

In this method, you only need to send a rescission letter in the developer’s format. That is why, less effort is needed. Canceling a timeshare agreement may be more challenging once the rescission window is gone.

You can find information about the rescission period of your timeshare at the start or the end of your contract. This is the easiest way of canceling your timeshare contract.

Deed Back Directly To The Timeshare Developer

It is the best method available if you want to avoid selling your timeshare. This option is not for every timeshare since not all developes offer a deed-back option. Before opting for this, you must be current on all timeshare dues.

Usually, the timeshare developer charges a fee from $500 – $2000.

Selling The Timeshare On Your Own

Selling a timeshare on your own is difficult because you need a reasonable price. The main reason is timeshares decrease in value considerably after purchase.

In this method, you have to advertise your timeshare. Hence, the average cost to get out of your timeshare is an advertisement.

On average, advertising on the following websites costs about $50 – $125. On Craigslist, you can sell free of cost. But eBay can cost you $50. There is no need to pay a high up-front fee exceeding $150 for advertising your timeshare online.

It can take more than a year to find a buyer for your timeshare, so you have to work hard.

Selling Your Timeshare Through A Timeshare Broker

This method is excellent if your timeshare is of fair value. You can sell your timeshare through a broker. Timeshare brokers work on commission. Therefore, they like to sell a well-valued timeshare to earn a good amount.

Because of the broker’s commission, this method may be costly. This method’s average cost to get out of timeshare depends on the commission rate. A low effort from your side is required.

Timeshare Exit Company Working With Lawyers

Although it is the best way to get out of your timeshare, in contrast, it can prove to be the most expensive method. Furthermore, you may need to write a statement to describe your situation where you were misled or told a lie during the sales presentation. Consequently, you may have to do some work.

Those who owe a mortgage have only a few methods to get rid of their timeshare, which requires a lot of work. Besides, most timeshare developers do not allow you to deed back if you owe a mortgage.

The average cost to get out of timeshare in this method is about $4000-$15000. This fee can increase significantly if the owner owes a mortgage on the timeshare. A medium effort from your end is required in this case.

We suggest using companies with escrow, so you don’t have to pay any fees upfront to the exit company.

Timeshare Exit Company Working Without Lawyers

This method is cheaper than a Timeshare Exit Company that works with lawyers. However, it only sometimes works. You might need to write a statement describing your situation where someone misled or lied to you during the sales presentation. You will need to write more letters, as well.

The average cost to get out of your timeshare in this method is between $2000 and $15000.

average cost to get out of a timeshare

Final Thoughts

This piece has covered several significant aspects of exiting a timeshare. It’s important to be careful when buying a timeshare because it can be extremely difficult and costly to cancel the contract later on.

Moreover, you have various options to eliminate your timeshare ownership. Some of them include rescinding your timeshare contract, can deed back directly to the timeshare developer, you can try and sell the timeshare on your own, sell the timeshare by working with a timeshare broker or you can work with a timeshare exit company. To learn more about these options, contact our team now.

Please contact our team through Live Chat or fill out the form on the right for a free consultation. Today we will answer many of your questions, including the average cost of getting out of a timeshare. Need more help? Call our direct line at 833-931-6555 to speak with one of our expert representatives!

Generally, your effort and cost have an inverse relation. The more energy you invest in exiting your timeshare, the less expensive it will be. Contact our team for a free consultation. We can recommend the best exit company for your situation and help you find the right legal exit plans.

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By providing my contact information and clicking ‘submit’, I am giving MyTimeshareExitReviews.com and its partners permission to contact me about this and other future offers using the information provided. This may also include calls and text messages to my wireless telephone numbers. I also consent to use of emails and the use of an automated dialing device and pre-recorded messages. I understand that my permission described overrides my listing on any state or federal ‘Do Not Call’ list and any prior listing on the ‘Do Not Call’ lists of our partners. I acknowledge that this consent may only be revoked by email notification to info@www.mytimeshareexitreviews.com.

Timeshare Exit Questions? Contact Us!

By providing my contact information and clicking ‘submit’, I am giving MyTimeshareExitReviews.com and its partners permission to contact me about this and other future offers using the information provided. This may also include calls and text messages to my wireless telephone numbers. I also consent to use of emails and the use of an automated dialing device and pre-recorded messages. I understand that my permission described overrides my listing on any state or federal ‘Do Not Call’ list and any prior listing on the ‘Do Not Call’ lists of our partners. I acknowledge that this consent may only be revoked by email notification to info@www.mytimeshareexitreviews.com.

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