How to Get Out of Diamond Resorts Timeshare
Does it seem like your maintenance fees are getting out of hand? Are your pockets starting to feel lighter as these pesky fees continue to take a bite out of your savings? Increasing every year until you ask yourself,” Is this even worth it anymore?”
If you’re feeling stuck right about now, take a deep breath! Because you’re in luck. Our team has written a little secret in this article that could help you get out of Diamond Resorts timeshare. A solution that can help timeshare owners all over get rid of their timeshares! If you’re ready to learn the secret on how to get out of Diamond Resorts timeshare, first fill out our short quiz on the right. Once you’ve accomplished this, get out a pen and a paper and get ready to take notes.
Our team is about to reveal the best way on how to get out of Diamond Resorts timeshare. Or you can initiate a Live Chat to learn more through a free personalized consultation. We can help you find the best solution ideal for your timeshare situation. So, what are you waiting for? Let’s get started!
Who Owns Diamond Resorts?
Diamond Resorts was founded by Stephen J. Cloobeck in 2007 when he led a group of investors to buy Sunterra Corporation. Since then, it has grown into the vacation goliath that you know today.
Also known as Diamond Resorts International, the company now has a network of more than 379 destinations in 35 countries across the globe. Headquartered in Las Vegas, NV, Diamond Resorts now has CEO – Michael Flaskey at the helm. But it was Cloobeck who introduced Diamond Resorts to its unique points-based system.
Since 2013, Diamond Resorts has been sponsoring golf tournaments. It all started when PGA TOUR professional Brian Gay offered to lend his name in an inaugural event. The goal was to help raise money for the Florida Hospital for Children. More than 300 golfers, spectators, and even celebrities attended the event.
Then in 2014, the tournament grew when they began including professional players and private headlined concert by Colt Ford. Not only is he a well-known country music star, but Colt Ford is Diamond’s celebrity ambassador. Diamond Resorts was making so much noise in the industry it caught the attention of Apollo Global Management. The New York-based investment firm already owns a substantial amount of the vacation and hospitality industry. TPG Capital, a majority stake in Caesar Entertainment, do they really need Diamond now too?
They sure felt that way! In 2016, Apollo Global Management announced a $2.2 billion deal to acquire Diamond Resorts International.
It seems like the perfect year for them to purchase the company since this was also the same year Diamond Resorts entered into a settlement agreement with the State of Arizona. For years Diamond timeshare owners complained about their maintenance fees and said they had been lied to. Finally, some credibility was found in these claims when Diamond Resorts had to refund all their owners!
How to Get Out of Diamond Resorts Contract?
You may be wondering how to get out of Diamond Resorts contract. Typically, it’s not that simple to cancel a timeshare contract.
Now don’t give up just yet! There is a simple way out if you can catch it in time. The rescission period can save you thousands of dollars if you qualify. Your right of rescission is a small window of time where you can still cancel your timeshare for a full refund.
Usually located within the beginning or end of your contract, the length of your rescission depends on where you made your purchase. The reason is that rescission laws are different in every state in the United States. Some states have a 5-day rescission period; others 7. A standard range we have seen is a 3-14 day rescission period. Now there are rescission laws in other countries like Mexico, for example. But do not make the mistake that these laws work the same way that American rescission laws do.
Another important tip to note is that most rescission laws require you to mail in a written cancellation letter. And just because we’re feeling extra generous, we’re going to provide you with another tip. PURCHASE THE OVERNIGHT MAIL OPTION. When it comes to rescission, submitting any documentation outside of your timeframe will automatically disqualify you from this opportunity. Spending a few extra dollars to avoid ineligibility is one of the best actions you can take here. To see a timeshare cancellation letter sample, click here.
How do you Sell a Diamond Resort Timeshare?
Undoubtedly, if you missed your rescission period, you’re going to ask yourself,” how do you sell a Diamond Resort timeshare?”
The first thing you should do is still call Diamond Resorts. Even if you’re behind on some of your payments, its’ still worth a shot! Transitions by Diamond Resorts offers members and owners a safe way to relinquish all or part of your vacation ownership.
But like most exit options, Transitions will require you to be current on your payments, especially if you would like to sell. Every timeshare owner should know that eligibility for resale only applies for paid-off timeshares.
If you still have a loan or owe a mortgage balance, your timeshare will be listed as “encumbered.” This means it will be restricted from being sold on any resale market. With that in mind, don’t go ahead and hire a resale company! We don’t believe you should hire any resale company so they can list your timeshare on an “exclusive” platform. The reality is that finding a buyer in the resale market is a challenging task.
You may think we sound obvious here, but if you try searching Diamond timeshares for sale on eBay or craigslist, you’ll see what we mean. Multiple starting bids are listed for as low as $1. This is proof that tons of timeshares owners have given up on their search for a buyer to rid them of this burden.
How to Get Rid of Diamond Resorts Timeshare
Timeshares typically are deeded properties or ownerships backed up by a contract. Just as you simply cannot cancel a house deed, cancelling a timeshare deed is no different in this case.
Now, this doesn’t mean that you’re out of options here. It just means you will most likely require assistance from a professional. This is why we recommend you hire a timeshare exit team that works alongside attorneys. Imagine an entire team of timeshare exit specialists working vigorously on your case with the help of expert timeshare attorneys.
Note, the industry is full of all kinds of timeshare exit companies and legal firms. And not all of them are reputable. The FTC and the BBB warn every year to avoid paying up-front fees because of the numerous timeshare exit scams that exist. This is why our team only recommends you hire a company that offers a no up-front fee escrow payment option, so you stay protected against a scam! By cancelling with escrow, you remove all the risk of becoming a victim of a timeshare exit scam. That is because escrow eliminates all up-front fees paid directly to the exit company. By doing this, you hold the exit company accountable to complete the services they promised. Otherwise, they will not receive payment.
But there are tons of exit companies that exist. How do you know where to start? Or which ones offer escrow? No one has time to research and hear out every single company. So, what do you do?
We recommend you first fill out our short quiz on the right side of the page. Next, we suggest you initiate a live chat with one of our specialists or give us a call! We’ve done our due diligence in researching as many companies as possible so that you don’t have to. We’ll help you select the best exit company ideal for your current situation!
Overall, if you decide you want to get out of Diamond Resorts timeshare, you will need to act now! There is no more time to waste.
The longer you wait, the more chances your timeshare is of becoming a burden, a terrible burden that will not only affect you but your family as well. Fees that never seem to end and continue to increase each year will eat away at your wallet. Special assessment fees that, frankly, you don’t recall anyone ever mentioning!
Contact our team so we can help you determine if a timeshare exit company is legitimate, and we recommend working with timeshare exit companies that offer escrow so you pay no up-front fees. Know your legal right so you can exit your timeshare contract legally. Read over our website, fill out the form on the right, or contact us through Live Chat for a free informational consultation.