The Reality of Timeshare and Cancellation Practices

Many wonder if it is possible to cancel timeshare agreement after already purchasing one. Truth be told, canceling your timeshare is possible if you find a reputable timeshare company to help.

By definition, a timeshare is an option for people to share ownership of a property. Most cases, timeshares are regarded as vacation options which are sold as a vacation options for families. We help timeshare owners by negotiating with the resorts to release them from their contract. If your timeshare no longer fits your lifestyle, give us a call. 

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A non-deeded timeshare usually has an expiration date, while a deeded one conveys permanent ownership. Most people have deeded timeshares. Some allow one to select preferences and make customization’s since they would be getting to stay there for as long as they want.

Despite the misconceptions and potential drawbacks, a timeshare can be a good idea for people who want unique vacation spots. And if you have purchased one, you get a different experience by jointly owning a property with multiple people. There are several types of timeshares. Let’s look at them to give you a better understanding of the concept:

• Fixed Week Timeshare

Just as the name implies, the buyer has rights of ownership to a specific unit within the same week, as long as the contract remains in place. Usually, they are given the rights to rent and trade their block with other owners.

• Rights-to-use Timeshare

The rights of usage and ownership will be given to the owner for a specific period of the year.

• Floating Timeshare

Buyers can retain rights of ownership to the property for as long they want during a given period of the year.

 

• Points Club Timeshare

Sharing the same nature with the Floating Timeshare, this one allows buyers to stay at various locales. However, this depends on the level of points they have from buying points from the club or buying into properties.

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What Are The Advantages Of A Timeshare And How Can I Cancel My Timeshare Contract?

A timeshare may come with a few benefits, but it’s always important to weigh the pros and the cons. Timeshare benefits are used to induce consumers to buy them, but are they long term? Do they outweigh the cons? In order to answer these questions you will need to have a better understanding of they work. We have listed a few advantages below.  
  • Vacation options

Finding a good spot to spend your vacation is easy. With a timeshare, things get easier. This way, you do not have to spend a lot of time looking for top vacation spots for families. People who are fond of visiting the same place year after year might enjoy their timeshare arrangement. With your vacation preset in the same location, you can enjoy the same unit at specific time frames, while others like to vacation on their own terms. 

In other words, a timeshare leaves you with a guaranteed vacation destination. If planning a vacation each year is something you are not interested in, a timeshare might be a good vacation option for you opposed to having to plan and map a new vacation each year. Generally, vacations are not structured this way and regardless of the timeshare you own and the dates you plan, a timeshare can naturally become exhausting as your needs may change. If you love vacation in the same spot at the same time every year without trying anything new, then you might have a great experience being a vacation owner. 

  • A Good Idea For Large Families

Assuming you have a large family and cannot seem to get the perfect vacation spot for them, a timeshare can be a good fit. With a timeshare, space may not be a disrupting factor as many of them are built to accommodate large families. A convenient amount of space is offered so families can enjoy meals and share happy moments as a unit with adequate rooms and bathrooms.

  • Security

Security is a benefit of most timeshares today. People can have fun along with their family in a secure environment. Owners also do not have to worry about security during their absence from the property.

  • No Need To Deal With The Maintenance

Maintenance of the property is handled by others. This is due to the maintenance fees the owners pay after they purchase the property. Owners do not have to carry out the maintenance themselves. This comes as a relief to those who are just there to enjoy their vacation, as there would be less stress and a clean and healthy environment to stay in.

  • Meet New People

Because timeshare resorts are usually larger properties, you can easily find other owners with whom to interact. While doing this, you may trade times and location with them. 

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Top Reasons to Cancel Timeshare and How to Cancel Timeshare

Timeshares can often be canceled. The big question many would ask is, “why would anyone want to cancel their timeshare?” Well, timeshares also come with shortcomings.

Canceling your timeshare can be a big deal. It can turn out to a hassle if you cannot find the right company to help you. To get a better understanding of the concept, we will be looking at the top reasons to cancel your timeshare and how they do it.

False Advertising of Timeshares

Many timeshare contracts will promise buyers a life of luxury when using the property. This can sometimes turn out to be false. Timeshare owners who have experienced this have always opted into timeshare cancellation.

Timeshare properties are not always what they were described to be. Some of them are poorly maintained. This makes them very different from what you had envisioned them to be. Moreover, if you wanted to try and make a small return while you are not using the timeshare you would have a difficult time if the property is not kept up. 

Canceling your timeshare can be aided by a company and one of the most reliable companies to help you negotiate a cancellation is Timeshare Exit Pros. 

  • Financial Burden

Keeping up with your current bills may already be tough. Added maintenance fees that may increase on an annual basis could be a financial burden you did not intend on getting involved in. There are also unknowns like being hit with an economic hardship like job loss or your spouse loosing their job. Some people retire while still owning a timeshare. Generally, retirees who own timeshares with increased annual maintenance fees feel it the most. Their monthly retirement income stays the same as their fees rise each year. Canceling your timeshare can save you a lot of future expenses and the financial burden of a timeshare can be overwhelming for some consumers.

  • Not All Personal Needs Are Met

This is similar to the false advertising of timeshares mentioned earlier. Not all timeshares fit your personal needs. This can greatly affect the quality of your stay. This ends up being an obstacle versus a better vacation experience. 

  • Timeshares Can Be For Life

Timeshares come in different forms. Sometimes they are lifetime contracts. If the property is poorly maintained and looks run-down, you might have to live with it  that way without having being able to opt-out. Some timeshare contacts can be passed to future generations too. 

Frequently Asked Questions:

Below, we answer a few of these questions that are frequently asked by timeshare owners: 

What happens if you successfully cancel a timeshare?

Nothing. You simply end the contract with the management company. Most states have put together laws that give timeshare buyers the right to cancel timeshare contracts so long as this is done on time.

Is it hard to cancel your timeshare?

Canceling your timeshare depends on several factors. Some timeshare owners have a better chance of cancelling their contracts. At Timeshare Exit Pros, our services are tailored to help those owners cancel their timeshare.

Can I trade my timeshare?

Few people would choose to go to the same location every year for their vacation. That can get boring. This is where trading your timeshare would come into play. Many management companies who offer timeshare contracts allow for the trading of timeshares. It may include additional fees and may not be an easy process to find a buyer to purchase your timeshare.

Is it worth it to buy a timeshare?

You should ask whether you can meet the financial requirements of the bills, whether the management company you are buying from is a reputable one. This way, the chances of getting scammed or carrying an unexpected financial burden after purchase can be reduced. 

Final Thoughts

Timeshares can be a way to spend your vacation week. Many timeshares offer a great way to enjoy quality time with your family. But with all of the benefits, there are still some downsides. For this reason, timeshare cancellation may be the best option for many owners. 

Timeshare Exit Pros is a company that negotiates the cancellation of your timeshare. If you’re having a tough time living with the several downsides of your timeshare, Timeshare Exit Pros will negotiate the contract with the management company.

How can I cancel my timeshare? You should call a experienced professional at Timeshare Exit Pros. A company like us is the best way to get rid of timeshare contracts if you are eligible for our exit program. 

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