Hello World! Welcome Friends! According to the American Resort Development Association, there are 9.6 million households in the U.S. that own a timeshare.
This popular mode of vacation is a popular way to save money when vacationing, but it does involve ongoing costs that become a burden for some owners.
Right now, times are hard for many people, and you might find yourself in a position where you can no longer afford the luxury of vacation ownership. There are ways to get rid of your vacation ownership product, but getting out of timeshares is always a tricky process. You can read more here to get important information and advice on a timeshare exit.
Your best bet is to avoid these mistakes with timeshare exits if you want everything to go as smoothly as possible.
1. Skimming Over the Fine Print
If you didn’t go through your contract in minute detail when you bought your timeshare, you could face some insurmountable problems getting out of the deal.
Get a legal expert to help you if you’re having trouble deciphering the legal jargon in your timeshare canceling policy. Different types of timeshares have different cancellation criteria that reputable timeshare exit companies can help you with.
A legal waiver or clause could prevent you from exiting your timeshare unless you meet certain conditions.
For instance, you might need to cancel during a certain window period or request the cancellation in person. Don’t waste your time trying to wrangle with these issues, you’ll have to comply with the conditions you agreed to.
2. Lie About Your Reasons for Cancelling
Don’t lie about your reasons for wanting to cancel your timeshare. If you invent falsehoods like hospital bills, they could ask for proof.
Failing to produce this may lead to legal issues that hamper your chances of cancellation.
You should never claim that an employee of the timeshare company told you something, like, ‘your refund is on the way’. If you have no proof, you have no leg to stand on.
Honesty is the best policy when dealing with sensitive legal issues. Devious tactics will only hamper your cancellation.
3. Correspondence Mistakes With Timeshare Exits
Placing your cancellation request is an important part of any timeshare exit strategy, but there are a few pitfalls to avoid.
Firstly, don’t send an email request to cancel your timeshare. It’s quick and easy to send an email, but it’s difficult to track these communications, and they’re not legally binding.
Rather, type or write out your request and send it via registered mail. You must send it to the headquarters of the timeshare organization and address it to their cancellation department.
Include a tracking and signature option when you correspond this way. This protects you from excuses and evasive tactics on behalf of the timeshare company.
4. Skimping on the Details
It’s vital to include as much detail as possible when you draft your hilton grand vacation timeshare cancellation letter. Timeshare organizations deal with millions of customers, and it’s easy for them to place your request at the bottom of the pile if they can’t track your account.
Your letter must include the following important information:
- The correct address and contact person for cancellations
- Your details like your address, phone number, and email
- The full name of the titleholder
- Your membership number and/contract number
- The date of writing and the date of the requested cancellation
Leaving out salient details can delay the process or stall it indefinitely.
5. An Emotional Writing Style
Avoid complaining in your correspondence or coming across as aggressive or emotional. Keep your correspondence professional and business-like.
It helps to flatter the timeshare organization a little. For instance, thank them for their years of excellent service and the wonderful holidays you’ve enjoyed.
Avoid drama, a friendly straightforward approach will get you much further when requesting a cancellation.
6. Agreeing to Another Meeting
If you’ve owned your timeshare for a while, you’ve probably forgotten how persuasive these people can be. So, unless you’re legally bound to do so, avoid attending a meeting to cancel your timeshare.
They’ll only try and wheel you in some more or get you to sign another agreement making it impossible to get out of your timeshare.
7. Unrealistic Expectations
Never assume you’re in for an easy ride selling your timeshare. Some contracts present a minefield of red tape when you try to exit your arrangement.
If you can’t get out of your contract any other way, you’ll need to sell your timeshare on the open market. Be realistic about how long this will take and how you price your timeshare.
For starters, you won’t get your money back when you sell it. The market value for a resale timeshare is much lower than what you pay for a new membership.
There are hundreds of thousands of timeshare weeks up for resale, too. So if you want too much for yours, you’ll never find a buyer.
It can take a very long time to sell your timeshare interest. So, if you need cash immediately, it’s often better to take a lower offer.
There is an option to sell DVC instantly, and some resale brokers might offer the same deal if you own a high-demand product.
These brokers know how to sell timeshares, but they’re still taking a risk claiming yours without a buyer, so you can expect a lower price.
Final Thoughts
One of the lesser-publicized mistakes with timeshare exits is the fact that it may be a bad idea to get rid of it in the first place. If you’re only going through a bad patch and most of your bond is already paid, why not hang in there?
You can rent out your weeks to earn some money toward the annual costs of owning your vacation product, or get someone you know to take it over for a year or two.
When you’ve paid most of the money owing on your timeshare is when you’ll start to reap the savings associated with this type of getaway.
Would you like some more tips on how to deal with daily life? Browse our blog for answers.
Click the links below for any posts you have missed:
12 Unexpected Things That Increase Your Home’s Value
10 Tips for Installing a Home Play System
9 Reasons Why Property Valuations Service Are Important
Make Sure That Your Backyard Is Comfortable
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