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How To Get Out of Lifetime of Vacations Resort Timeshare
Grand Lake and Lifetime of Vacations Resort is a popular American Resort in Kissimmee. The Resort is in the centre of Orlando and offers many facilities like a swimming pool, tennis and basketball courts, and much more. Even though this resort is in a great location, owning its timeshare can be expensive. They might have lured you into buying their timeshare by mentioning its great location, many facilities and other services. You may realise it was a big mistake after signing the timeshare contract and can feel trapped. Eventually, you can find yourself among those 85% of timeshare owners who want to eliminate their timeshare.
If you feel like their timeshare is burdening you and are looking for ways to eliminate Lifetime of Vacations Resort Timeshare, you are at the right place. There are many ways to eliminate a timeshare; we will guide you through each. This article includes;
- Information on the rescission period and how you can acquire it.
- How can you sell your timeshare property?
- How do you rent out a timeshare property if you choose not to sell it?
- What should you avoid when you want to get rid of your timeshare contract?
Continue reading this article so we can help you understand the measures you need to take in order to get out of your Lifetime of Vacations Resort Timeshare.
Rescission Period For Lifetime of Vacations Resort Timeshare
The rescission period of any timeshare is when you can cancel your contract without bearing any additional cost. If you have bought your timeshare recently, look through the Lifetime of Vacations Resort’s cancellation policy to determine their rescission period. All timeshare companies have different rescission, so you must review the contract to determine their rescission period.
The recession mostly lasts 3 to 10 days, but it varies from state to state and also depends on the timeshare company. The timeshare cancellation laws in Orlando, Florida, allow you to have a 10-day rescission period. Remember that this also includes the day you signed the contract, so you must hurry if you still have time left in your rescission period. You can find information about the rescission laws at the beginning or end of your contract. If the rescission period is still valid, you must write the company a timeshare cancellation rescission letter. Writing this letter is very important because it ensures that you are fulfilling the legal requirements, and it will also help you avoid financial obligations attached to your timeshare contract.
If you need help understanding the rescission laws of your timeshare, we recommend contacting us now to help you break down the contract. We will help you throughout the process.
Sale Your Lifetime of Vacations Resort Timeshare
Selling your timeshare may seem like an easy way out, but let us tell you, this option is rather complicated. But you don’t have to worry; we have got you covered!
If you missed the rescission period on your timeshare, contact your timeshare company to know if they offer a buy-back program on their timeshares. If they do, they will take back the timeshare they sold you, but if they refuse, start thinking about selling it. The most important step in selling your timeshare is to go through the resale market. Knowing the market value of your timeshare is essential before listing it on the market. After determining the true price of your timeshare, it’s time to put it on the market and look for potential buyers.
Doing all of this alone can be a difficult job, so we recommend contacting some resale companies to help you. Websites like e.bay, craigslist and SellMyTimeshare will help you resell your timeshare and promote your property. They will help you get a good deal on the timeshare, but this will happen if your property is in demand. Many timeshares fail to attract potential buyers because timeshares in this era are considered to be a depreciating asset rather than a good investment.
Rent Out Your Lifetime of Vacations Resort Timeshare
You can rent out your timeshare if you do not want to sell it. However, you need to ask the timeshare company if they allow renting it out. If they do, start by researching the current market rates of similar timeshares to understand the prices. Afterwards, prepare your property by cleaning and organising it to attract potential renters. It is important to ensure the property is in good condition to get you a good price from the renters.
There are websites like Airbnb or Booking.com that will help you advertise your property and list your timeshare for rent. You can also rent out your timeshare to friends or relatives. Make sure to add a good description and high-quality photos of the property when listing your timeshare for renting.
Renting out your timeshare with the help of a trustworthy rental company will help you pay your mortgage fees or other expenses if you struggle to get by. But you need to ensure that the renters do not damage your property, or else the maintenance fees will cause you to waste your money.
Timeshare Exit Companies:
If the abovementioned options do not work out for you, contact an Exit Company to eliminate your timeshare. Exit companies help people to get out of their timeshare contracts. They can help you terminate or transfer your timeshare ownership. These companies have gained recognition in recent years as many people are bearing losses or have been scammed recently by timeshare contractors. You must act quickly if the contractor scammed you or did not mention important details about your timeshare property.
These companies can help you cancel your contract by using legal clauses mentioned in your contract which you may have missed. They can also resale your property by promoting it on their websites and presenting it in the market. It is easier for them to resale the property as they already have connections in the market, which may make the resale procedures easier for you. They can also assist you to donate the property to charity. Most people buy timeshares as an investment, so there may be other options for them, but people willing to donate it can seek help from the exit companies.
These are the most common benefits exit companies can provide if you want to eliminate your timeshare contracts. However, it is crucial to thoroughly check and research before approaching any exit company, as frauds and scams are common in these scenarios. Make sure that the company you choose to work with offers escrow. Escrow eliminates any doubts a timeshare owner may have when they are looking to exit their contract. With escrow, you still pay fees to a third-party company. This helps protect not only the customer but the company as well. Read through Timeshare Exit Company Reviews to avoid scams and work with a legitimate company.
Giving Away Your Lifetime of Vacations Resort Timeshare
This may seem like a good idea to give away your timeshare to charity, but in reality, no one will accept the property. Even if you consider giving away your property for free, nobody will accept it due to its increasing maintenance fees and mortgage rates.
Timeshares used to be a good investment back then, but now, they are just a waste of money. People won’t accept it for free because of the never-ending commitment and continuous depreciation in its rates.
Why would a charity want to inherit this burden? To learn more about why you can no longer write off your timeshare for charity, click here.
Things to Avoid:
Stopping Your Payments
You are completely wrong if you think you can stop paying the company. They will not let you walk away like that. If you suddenly stop paying them, they will start putting late fee charges over your payments, which will result in increasing the amount you owe them. The company will start emailing and calling you to pay your dues.
Non-payments of timeshares can hurt your credit score as well. Late or missed payments will appear on your credit report, negatively affecting your credit score. This will result in making it challenging to receive credit in the future. Timeshareshare companies can take legal action against you as well. This can include filing a lawsuit against you to make you pay your debts.
So, stopping your payments is not the right option. If you are facing financial problems, contact the timeshare company to talk and find a way out. Some timeshare companies are willing to work out a payment plan or negotiate the price for the time being.
Assuming It Will Be Easy To Sell
When you start looking in the resale market, you will know that the supply of timeshare properties is way more than its demand. The oversupply can make it hard to sell a timeshare. You might not get the price you wanted for your property, or it may take a while to get sold. As timeshares’ value decreases over time, it can be difficult to resale it. Even if your property is in a great location, attracting potential buyers can still be difficult.
Some timeshare companies have restrictions on resale, like having their permission before selling it or giving them the right to choose the buyer, so it is essential to contact the company before deciding on your timeshare property.
It is always challenging to sell a timeshare property, so you need to be patient and persistent to get a good deal for your property. If you can not do this alone, contacting a reputable resale company is always an option. If you need help finding a trustworthy company, we recommend you contact us so we can help you out.
Do Not Avoid Legal Guidance
Timeshares can be a pain, so seeking legal advice and taking their help in selling it can be a good option. If you have tried everything to get rid of your timeshare property, but nothing is working out for you, seeking legal help is the right step. You can eliminate your timeshare contract legally with the help of an attorney.
An attorney may cost you a bit, but they can save you from many expensive mistakes. They can understand your contract better than anyone else. An attorney specialising in timeshare law will help you understand your legal rights, guide you through the exit strategy, protect you from scams, review all the necessary documents and many other measures.
Engaging an attorney will give you peace of mind as they will ensure you get the upper hand in every matter. But before hiring an attorney, ensure they have worked in the timeshare industry and have a good reputation in it. Research is a crucial step here as well.
Exiting your Lifetime Vacation Resort Timeshare can be stressful, but we are here to assist you. Timeshares used to be a good investment to gain profit in the future, but now, they are just becoming another expense for their owners. Timeshares are losing their value daily, so you need to act quickly if you want to get rid of your timeshare property.
All the measures we have mentioned in this article are to help you understand what you need to do if you no longer want to own your timeshare. Additionally, if you plan on contacting an exit company, ensure you are working with a licensed professional and they offer escrow. Escrow is when a third-party company holds onto your payment while the timeshare exit process occurs. If all is successful as promised, the escrow company releases your funds to the timeshare exit company.
Timeshare Exit Company scams are very common in the timeshare industry, so it is important to be cautious. Also, make sure to get every important document in writing. Having everything in writing will help you stay protected during your Lifetime of Vacations Resort Timeshare cancellation. Read over our website and fill out the form on the right, or contact us through Live Chat for a free informational consultation.
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