You did something you never imagined you would do, you bought a timeshare. In a moment of vacation weakness you signed on the dotted line, and now you have a souvenir that will last forever. You don’t want your timeshare anymore, but you can’t seem to figure out how to get rid of it. You begin to research your options and come across many different ways to get rid of a timeshare. Between declining equity, donation costs, and the timeshare exit team cost you need to figure out what is the best option for you to get rid of your timeshare.
If you own a timeshare that you no longer or want are cannot afford, you have a few different options to get rid of it, including selling it, donating it, or canceling it. Depending on the various costs associated with a sale or donation as well as the timeshare exit team cost one option might be more favorable for your specific circumstances than another.
First, let’s look at selling your timeshare. Timeshare resale is the most well-known way to get out of a timeshare. When you sell a timeshare, you sell it the same way you would any other piece of real estate. You find a real estate agent who specializes in timeshare resales, list it for a fair market value, and wait for a buyer. Once your timeshare sells you pay a percentage of the sale to the timeshare real estate agent.
If you own a timeshare that has increased in equity or at least maintained its value, a sale can be a good option. However, if your timeshare has lost value, you will end up losing money doing a timeshare sale. The resale market is pretty dismal right now, and most timeshares are worth only a fraction of what you paid for them. This means that at the end of your timeshare sale you will actually still owe the timeshare company money and could lose tens of thousands of dollars. This may not be the answer to the question of how to get rid of a timeshare.
In addition, while you are waiting for your timeshare to sell, you have to continue to make your monthly payments, costing you more money every single month. With a slow resale market, it may take years to actually sell your timeshare. In response, some timeshare resale companies have popped up. They offer to buy your timeshare at a deeply discounted rate and then turn around and sell it. This is rarely ever a good option. You will lose a ton of money, and there are many timeshare resale scams out there.
If selling your timeshare isn’t an option, you may be able to donate your timeshare. Basically, you would donate your timeshare to a charity that would then sell it. If it is a legitimate charity, you can take the market value of your timeshare as a tax write off. It is important to note that you can write off what your timeshare is worth, not what you paid for it. If you are in a high tax bracket and need a tax break, a donation can be a good option.
However, if you don’t owe extra taxes, a deduction will have little effect on your overall tax liability. Also, you technically will lose the full value of your timeshare. It can be difficult to find a charity that will accept a timeshare as a donation. And finally, like anything associated with the timeshare industry, there are scams that you need to be careful of.
If after looking into timeshare sales and timeshare donations you still need to know how to get rid of a timeshare, timeshare cancellation might be the best option for you. When you do a timeshare cancellation, you walk away from your timeshare without owing extra money to the timeshare company. You don’t have a negative balance for equity loss, you don’t have to pay a real estate agent, and you don’t have to do all the legwork to find a charity that actually wants your no good, rotten timeshare. You get out of your timeshare free and clear.
You also don’t have to worry about ruining your credit because a timeshare cancellation is completely legal and does not result in a timeshare foreclosure. If you need to get rid of your timeshare without accumulating massive debt, timeshare cancellation is the best option for you.
In order to determine how to go proceed with your timeshare cancellation, you need to investigate the timeshare exit team cost. A timeshare exit team is a team of specialists who are experts in timeshare cancellation. Here at Timeshare Cancel Center, we have the best timeshare exit team. They work for you, not the resort company and they will get you the timeshare cancellation that you need.
Call us today to learn more about timeshare cancellation and get out of your timeshare today!
For A Free Timeshare Exit Consultation
Timeshare purchases are usually one that ends up being on your list of regrets. It can leave you wondering what the timeshare exit team cost will be and if you will even be able to do a cancellation.
Attn: Timeshare Exit Dept.
5036 Dr. Phillips Blvd. #221
Orlando, Florida 32819-3310 USA