We compare timeshare exit companies so you can make an informed decision.
Why you should trust MyTimeshareExitReviews? We compare timeshare exit companies so you can make an informed decision.

Table of Contents

Timeshare Cancellation

If you owned a timeshare, you know they can be enjoyable when you have children who enjoy them; vacations were enticing. As time has progressed, the benefits of a timeshare have changed tremendously. Over the years, the timeshare industry has lost 90% of its value. Numerous timeshare listings can be found on eBay.com or craigslist.com for $0. It doesn’t sound good compared to what you paid.

Some timeshare owners have exit options with their timeshare company. Learn more to see if your timeshare qualifies for exit solutions. You have options if you are a timeshare owner and your resort does not have exit solutions. In this time and age, many timeshare cancellation companies are available for owners looking to get out of their timeshare contracts with the following options:

  • Timeshare cancellation with rescission.
  • Selling timeshare on the resale market.
  • Hiring timeshare exit firm.
  • Transferring your timeshare to a third party.
  • Contacting the resort to buy back timeshare from you. 

Today, we will discuss how to ask your timeshare exit company to rescind your timeshare contract.

Timeshare Cancellation with Rescission

So you recently purchased your timeshare contract, and you realized timeshares are not a good investment, what do you do? The first thing you can do is look in your timeshare contract for the rescission time period. There are laws set in place, depending on your state, that you have up to 7 days to rescind your contract from the time of the purchase. If you are under the 7-day time frame, we suggest sending in a letter. Here is a sample timeshare rescission letter

Dear (Name of Resort),

My (state your name) and my contract number (list the contract number as show on the first few pages of your timeshare contract). I want to use my legal right to rescind my timeshare contract. I purchased my timeshare on (date of purchase), and the contract states I have (# of days listed to cancel the contract).

I want a full refund for my deposit that I have paid, either through check or automatic deposit (clarify where the funds should be deposited). For any information that is required, please contact me at (state your email and phone).

Sincerely,

(Your Name)

Many timeshare owners are not aware in some cases if you only pay a partial down payment to the timeshare company; your contract is not active. When you pay only a partial down payment, you did not meet all the terms that are required for your agreement to be considered active. Our team advises you speak to the timeshare company and read through your contract. You might still be able to walk away if you only paid for your contract partially.

Selling Timeshare on the Resale Market

Selling your timeshare may sound like an appealing idea for someone who has paid thousands of dollars in the last few years. You likely purchased your timeshare assuming it would be an asset, or that was what you were told. In reality, 90% of the timeshares are a depreciating asset. If you’re a lucky timeshare owner and own a timeshare in popular desired locations such as Disneyland or Aruba, you should consider listing your timeshare on the resale market. If you’re like the majority of timeshare owners and own a non-desirable timeshare, the resale market will not benefit you.

As we have mentioned before, if you go on any online resale website such as ebay.com or craigslist.com, you’ll see numerous timeshares listed for a dollar. Many timeshare owners paid thousands of dollars for their property, and due to the increasing maintenance fees, many owners want to get rid of their contracts. The biggest question that arises is what the solution to getting rid of your timeshare is? In the past few years, timeshare cancellation companies have popped up, and specialize in legally canceling timeshare contracts. Below is a picture of a timeshare that is worth over $20,000 listed for $1.00.

timeshare on ebay

Timeshare Cancellation Companies

If you made it this far, you seek options to eliminate your timeshare. There are over fifty timeshare cancellation companies as of October 2019. Now, you have to ask yourself which company can you trust. Timeshare scams are abundant, and our team recommends working with timeshare exit companies offering $0 up-front in fees, so you don’t spend a single penny until your timeshare contract is cancelled.

Keep reading below to learn how timeshare cancellation companies work: 

  • Timeshare cancellation companies work by evaluating your timeshare contract and looking for misrepresentations. Misrepresentations can be high-pressured sales tactics or false promises made by the timeshare sales representative. 
  • We suggest you write down everything that occurred during your timeshare presentation. Many timeshare cancellation companies will ask you questions about your timeshare presentation to determine if you were misled or intimidated during the timeshare presentation.

Transferring Your Timeshare

You can sell it to another company or person if you no longer want to keep your timeshare. Here’s an easy-to-follow guide to help you through the procedure.

  • Evaluate your timeshare contract carefully. Look for provisions regarding transfers, selling, or ownership changes. Some contracts may include limits or criteria that you must adhere to.
  • Contact the resort or administration firm that handles your timeshare. Inquire about their special method for transferring ownership. If applicable, they can offer you the relevant forms, requirements, and fee information.
  • If you’re transferring your timeshare to someone else, such as a relative or close friend, ensure they’re willing to take ownership. If you want to sell your timeshare, try selling it on trusted sites or with real estate brokers specialising in it.
  • Complete the transfer forms precisely as given by the resort or administration organisation. These documents usually include information about the transferee, the details of the transfer, and any needed signatures. To avoid delays, follow the directions exactly.
  • There may be transfer costs involved with shifting ownership. Inquire with the resort or administration about the actual price and payment options. Be wary of any costs that are unexpected or unreasonable.
  • Send the completed transfer documentation and any needed costs to the resort or management firm. They will review the papers and verify that all relevant information is included.
  • The transfer procedure may take some time. The resort or administration business must verify the details and amend its records accordingly. Be patient with the process.
  • You will receive evidence of the successful transfer after the transfer has been authorised. Keep this paperwork in a safe place for future reference.
  • If you were making monthly payments for the timeshare, notify the financial institution or bank you used for the ownership transfer. This will avoid any confusion or further costs.

Remember that the procedure of transferring a timeshare might vary depending on your unique contract and the restrictions of the resort. Speaking honestly, following their instructions, and being informed of prospective fines are critical. If you need clarification about any part of the transfer, get legal assistance or contact consumer protection tools to guarantee a seamless and lawful transfer procedure.

Final Thoughts

If you’re in the situation and are looking to cancel your timeshare contract, we suggest you talk to a reputable timeshare cancellation company. Our team at MyTER recommends only speaking to companies that offer escrow, so you pat no up-front fees until your timeshare is canceled. Why would you want to take the risk of paying thousands up-front to realize later you were scammed. If you’re looking to cancel your timeshare contract and pay no up-front fees, Fill out the form on the right for a free informational consultation or initiate a live chat with our team.

Free Informational Consultation

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.

FREE Timeshare Exit Guide

Free Timeshare Exit Cost Assessment

Question #1
Question #2
Question #3
Question #4
Question #5
Question #6
Kindly select any suitable time when our representative call you

FREE INFORMATIONAL CONSULTATION

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.

Free Consultation

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.

Talk To A Live Human

Free Consultation

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.

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.

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.

MY TIME SHARE EXIT REVIEWS