It’s almost the New Year and planning our resolutions for 2021 have already begun. For some, it’s focusing on health or family or mindfulness, and for others, it’s reaching greater financial freedom. For those who have an unused and unwanted timeshare in their possession, it’s never been a better time to consider the ways you can get out of the ownership obligation before receiving 2021’s annual maintenance fees. The best way to get rid of timeshare burdens? Exploring the ways you can legally end your contract with this simple, seven-step process:
In order to know what your options are for your timeshare, you’ll want to collect your contract information. Some of the most important details you’ll want to collect include the Home Resort name, resort location, timeshare brand affiliations, unit size, type of ownership, and any other ownership perks. Additionally, it’s helpful to know if your contract is still within the rescinding period or has a Right of First Refusal clause.
A rescinding period (also called the cooling-off period) is a short time after purchasing a timeshare that an owner has to cancel their contract without additional fees or hoops to jump through. The Right of First Refusal allows timeshare resorts the choice to buy back a timeshare before it can be sold on the secondary market. Unfortunately, the rescinding period typically lasts only a few days after the contract is signed and many resorts choose to deny buyback or takeback requests.
Luckily, there are other options available for those who are still interested in learning how to get rid of timeshare property.
Before making any decisions about giving away or selling your timeshare ownership, it’s essential to understand your timeshare’s resale value. Utilize the information you have collected regarding your contract, compare it to similar timeshare resales available on the market, utilize free market value survey tools, and speak to independent timeshare resale specialists who can help you learn more about the fair market value for your vacation ownership.
For those who just want to get out of their contracts and don’t care to get money involved, there are a couple of easy ways to get rid of a timeshare like donating it to charity or transferring ownership to a loved one as a gift. On the flip side, these two choices provide no monetary assistance and might not work for owners who are looking to cover some or all of their existing timeshare loan.
Selling your timeshare on the secondary market is a sound option for those who have assessed their timeshare’s value and are comfortable moving forward with the advertising process. You’ll want to work with a credible and active timeshare resale platform like SellMyTimeshareNow.com to ensure your account will be handled professionally and legally.
In addition to helping you determine your timeshare value, the experts at SellMyTimeshareNow.com will help you find the right advertising package to match your budget and needs, as well as work with you to create a customized advertisement with all of your collected contract information that sets you apart from other timeshares on the market.
SellMyTimeshareNow.com allows owners to remain in full control of their timeshare while advertising on our marketplace. Communicate and negotiate directly with interested buyers who make offers through your personal dashboard and easily connect with our customer care team if any questions arise throughout the selling process.
If you don’t feel comfortable handling the closing on your own, there are reliable and bonded title companies like Timeshare Closing Services who are there to help you throughout the entire closing process. From deed preparation to closing statements to the escrow of funds, they have you covered for a single low, flat rate and will work to ensure an efficient closing timeline.
It’s that simple!