How to Cancel Festiva Timeshare?

Selling your Festiva timeshare is one option for canceling your timeshare agreement. However, this is only possible if your timeshare is fully paid off, as selling a timeshare with an outstanding loan balance complicates the process. To begin, you need to assess the marketability of your timeshare by considering several important factors that directly impact its resale value.

Start by assessing the following aspects:

• Do you own a points package or a specific week?
• Is your week in a prime location and during high demand periods?
• Are your points enough to secure popular reservations with Festiva?
• What are the transfer fees Festiva charges when transferring ownership?

Once you’ve answered these questions, you’ll be better equipped to understand the resale potential of your timeshare. Be cautious of companies that claim they can guarantee a sale for an upfront fee. Many resale companies are more interested in collecting their marketing fees than in actually selling your timeshare. These entities often focus on collecting upfront fees instead of working towards a legitimate sale.

Key Points to Keep in Mind When Selling Your Timeshare:

• Timeshare Resale Market: The market is oversaturated with listings and relatively few buyers. As a result, many timeshares are sold for as little as $1, especially on platforms like eBay.
• Ongoing Maintenance Fees: Even if your timeshare is listed for sale, you remain responsible for maintenance fees, which can accumulate quickly and discourage potential buyers.
• Reputation of Timeshares: Timeshares generally have a bad reputation due to high maintenance fees and the prevalence of scams. Many people now prefer flexible vacation options, such as Airbnb or booking a hotel, over committing to a timeshare with rising fees.
• Avoid Scams: Never engage with companies or individuals that request large upfront fees to help you sell your timeshare. Always verify the legitimacy of any company before moving forward with a transaction.
• Professional Help: If you prefer to avoid the hassle of handling the sale yourself, consider enlisting professionals like Allied Transfers. They offer affordable packages that manage the entire process, including listing, transferring, and selling your timeshare.

Considerations for Listing and Selling:

• Timing and Location: List your timeshare during peak travel seasons and in prime locations to increase your chances of a successful sale.
• Fees: Be aware of any listing and transfer fees, as these costs can affect the profitability of your sale.
• Market Conditions: Expect that you may not get back the full amount you originally paid for your timeshare. Festiva timeshares, like many others, tend to devalue quickly.
• Resale Companies: Watch out for companies that require upfront fees and promise to list your timeshare on exclusive, high-traffic platforms. Often, these companies are not as effective as they claim to be.
• Ownership Transfer Fees: Transfer fees are often incurred when selling or transferring your timeshare, and these can add to the overall cost of cancellation.
• Legal Fees: In some cases, you may need to consult a lawyer for help with the transfer or sale process, and legal fees can add to the total cost of selling your timeshare.

Warnings When Selling Your Timeshare:

• Resale Fraud: The timeshare resale market is filled with fraudulent companies that promise high sales prices but fail to deliver. Always conduct thorough research before entering into any agreements.
• Maintenance Fees: You will remain responsible for maintenance fees until the sale is completed, which can add up and reduce your potential profits.
• Limited Demand: Due to the oversupply of timeshares on the market, demand is lower, and many buyers are deterred by the negative perception of timeshare ownership.
• Seller’s Responsibility: As a seller, you are responsible for ensuring all necessary documentation is in order and that transfer fees are covered during the sale process.