Many timeshare owners find themselves unhappy with or unable to afford their timeshares. If you have found yourself in this situation, you are probably wondering how to get rid of a timeshare. When it comes to getting out of a timeshare, you have options. The most common and easiest ways to get rid of a timeshare are through a timeshare sale or by doing a timeshare cancellation. But, how do you know which is the best option for you? Read more to find out about both and evaluate the risks versus benefits of timeshare sales and timeshare cancellations.
If you need to know how to get rid of a timeshare, it can be for a variety of reasons. Maybe you have fallen victim to some of the numerous timeshare scams our timeshare exit team hears about. You were probably promised luxurious vacations for a fraction of the going rate. If this was the case, you have probably figured out that it is a scam and may even make you dread your vacations.
Or maybe you weren’t a victim of a timeshare scam at all. Maybe you need to know how to get rid of a timeshare because you either can’t afford it or simply don’t want your timeshare anymore.
Whatever the reason that you need to know how to get rid of a timeshare, it is important that you know all of your options. When it comes to getting rid of a timeshare, there is no one size fits all solution and it is important that you evaluate your choices carefully.
When it comes to getting rid of a timeshare, the two most popular options are timeshare sales and a timeshare cancellation. The most common is a timeshare sale. A timeshare sale works similarly to a normal real estate transaction. You would find a timeshare broker and sell your timeshare. You would use money from the sale to pay off the remainder of your timeshare contract, pay a fee to your broker, and then anything left over would be a profit for you.
A timeshare sale works great in theory. However, it is often not an ideal situation. If you own a highly desirable timeshare, a sale is probably a great way to get rid of your timeshare. You could probably even make a profit on it. However, if you owe more than your timeshare is worth or own a timeshare that has not appreciated in value (the rarely do), then you will most likely lose money when you sell your timeshare.
This means that once you pay your broker and use the rest of the money from your timeshare sale to pay off your timeshare debt, you may actually still owe the timeshare company money. This can lead to you having to do the equivalent of a short sale which will negatively impact your credit.
A second and less well-known answer to the question of how to get rid of a timeshare is by doing a timeshare cancellation. This is a fantastic option if you owe more on your timeshare than it is worth. When you cancel your timeshare, you stop making payments and your debt is forgiven.
Our timeshare exit team specializes in timeshare cancellation. We know what needs to be said and how to say it to help you figure out how to get rid of your timeshare for good. We urge you not to try to cancel your timeshare on your own. It may seem simple, but if you try to get a timeshare cancellation on your own, you may screw up the process to the point of no return, meaning that not even we can help you get the timeshare cancellation you need.
So, stop paying for a timeshare that you don’t want, don’t need, and cannot afford. Our timeshare exit team can get you’re a timeshare cancellation without impacting your credit score. We are open all day, every day, and are standing by to help you get rid of your timeshare today!