Can I get a refund on my timeshare?

Can I get a refund on my timeshare?

In most cases, it’s nearly impossible to secure a refund for a timeshare, unless you cancel the contract within the rescission period—something I once did myself. I actually returned the contract by hand and forced the company to sign and date it when I exercised my right to cancel.

What is the best way to get out of a timeshare?

To get out of a timeshare legally, consider these options:

  1. Use the rescission period.
  2. Call the timeshare developer.
  3. Rent your timeshare out.
  4. Sell your timeshare on the resale market (but expect to take a hit).
  5. Gift your timeshare to a friend, family member or stranger.

How do you cancel a timeshare and get a refund?

First, contact your timeshare company. Some resort brands have launched deed-back programs, with internal teams that can help you explore other cancellation solutions. Some states also allow cancellations post-rescission, but you’ll need to work with an attorney.

How can I legally cancel my timeshare?

The Do’s: How to Write a Timeshare Cancellation Letter

  1. Get your cancellation request in writing.
  2. Include a clear request to cancel your timeshare.
  3. List all the important details.
  4. Set expectations.
  5. Send all correspondence by certified mail.
  6. Don’t get emotional or long-winded.
  7. Don’t use passive or hesitant language.

Why are timeshares hard to get out of?

Limited Alternative Options. Another reason why it’s so difficult to cancel your timeshare is that there are limited alternatives available. You might think about selling your timeshare if the burden becomes overwhelming. Unfortunately, there aren’t many people in the buyers’ market.

What to say to cancel a timeshare?

Write Your Timeshare Cancellation Letter

  1. Your name and contact information.
  2. The name of your timeshare company.
  3. The contract number.
  4. The names on the timeshare contract.
  5. The date of purchase.
  6. A statement of cancellation.
  7. The amount you paid, including a request that this amount be returned to you.

Can I legally cancel my timeshare?

While it’s usually not necessary to provide a reason for canceling the timeshare contract, you do need to explicitly state that the purpose of the letter is to rescind the contract. A statement like “I am contacting you within the rescission period to cancel this timeshare contract” will usually work.

Are there any legitimate timeshare resale companies?

Timeshares Only. Timeshares Only has been helping buyers, sellers and renters of timeshare resale for more than 25 years. As a trusted member of The American Resort Development Association (ARDA), the company is backed by top developers and has an A+ rating with the Better Business Bureau.

Can you legally cancel a timeshare?

The vast majority of timeshare purchasers get the right to rescind the contract within a specific amount of time. Most states (and some foreign countries) have laws giving timeshare buyers at least a few days—usually between three and fifteen—to cancel the agreement.

What is the safest way to sell your timeshare?

Since timeshare is a special type of real estate, the best way to sell a timeshare is to go with a real estate agent who specializes in resales. The reason for this is because selling a timeshare requires different laws and regulations most of the time.