Timeshares mean contract-based access to a vacation resort or a vacation facility for a specific duration in a specific period of the year, each year for the duration of the contract. The people who buy into this type of vacationing usually find out about available timeshare facilities by being invited to attend a presentation about the timeshare options. During the presentation, the participants see pictures of the resort and they are shown calculations about how much they can save if they spend their vacations at the resort, rather than visiting a different place each year.
Timeshare facilities certainly look great and at first glance, the price seems affordable, too, but many buyers realize that the timeshare that they have just purchased is not such a good idea after all. While many owners see no way out of their timeshare contract and decide to keep it, if you want to know more about your options, here are a few answers to the burning question: can you get out of your timeshare?
Cancelling Your Timeshare
Most states require timeshare sellers to include special clauses into their sales contracts that allow their buyers to change their minds about the purchase they have made and to get out of the contract without consequences, provided that they notify their seller within the timeframe stipulated in the contract. If you realize that you no longer want your timeshare and you make the decision during the grace period specified in the contract, all you need to do is to notify your seller in a written form about your decision and then to do some follow up to see if your purchased has been cancelled indeed.
Take-back Programs
Many timeshare developers have special take-back programs that you can use to sell your timeshare back to them if you decide to get rid of it after the grace period has expired. The price offered for your timeshare will be probably lower than the price your paid for it when you bought it, but it is still an excellent way to get out of an unwanted contract and certainly much better than having to spend your vacations in a place where you don’t want to go to just because you made an impulse purchase once.
Turn to a Timeshare Lawyer
There are cases when the decision to sell the timeshare comes after the expiration of the timeshare and no take-back program is available. If this is the case that you are facing now, don’t despair, there is still a way out, but it is a good idea to get specialized help. There are many lawyers who specialize in timeshare cases and who know exactly how to get rid of a timeshare legally. Your timeshare specialist will probably contact your seller to negotiate the conditions of a buy-back or will try to find a clause in your contract to convince the seller that taking the property back is a good idea.
Try to Sell Timeshare
Timeshares are quite difficult to sell, but if you advertise it in the right media, not only on real estate websites, but on auction sites and in printed media as well, sooner or later you will probably be able to sell it.