If you own a timeshare that you no longer use, you might be contemplating the timeshare exit team cost and comparing a timeshare cancellation to selling a timeshare to figure out which is the best option for you. If you need to get rid of a timeshare, you need to weigh your options carefully to determine what timeshare exit strategy makes the most financial sense.
You did it. Something you swore you would never do. You bought a timeshare. In a moment of vacation bliss, you thought about how wonderful of a life you could have if you owned a timeshare. You pictured your life of luxury and relaxation.
You didn’t cancel your timeshare during the rescission period. Maybe you thought you would use it. Perhaps you wanted to give it a chance. Or maybe you were embarrassed because you knew that you had fallen for a timeshare scam.
Whatever your reason for not canceling right away, you have now decided that you need to figure out how to get rid of a timeshare. Unfortunately, getting out of a timeshare is much more complicated than buying one was.
Your first thought should be to examine the different options for offloading your timeshare. The three most common are a sale, donation, and cancellation. Knowing the basics of each of these will help you evaluate the pros and cons and determine the best way for you to get rid of your timeshare.
- Timeshare Sale: This is the option that the timeshare company will tell you is the best option, regardless of whether that is true or not. When you bought your timeshare, you were probably told that it would appreciate in value and be a sound investment. In most cases, this is quite frankly, not true. Sure there are some timeshares at limited resorts in highly sought after destinations that can sell for a hundred thousand dollars. However, the majority of timeshares are worth roughly three to seven thousand dollars. Considering it was a thirty-thousand-dollar investment, you will lose a pretty significant chunk of money. Also, a timeshare sale can be a lengthy process because it takes time to find the right buyer. If you own a timeshare at a resort that is not in demand, you may not be able to sell your timeshare at all.
A timeshare sale can make sense if you know that your timeshare has increased in value. Before you attempt to sell a timeshare, research the marketability of your timeshare and talk with a realtor. You also need to be aware of any fees that you will owe at closing to determine if selling your timeshare makes sense. Often, you will actually end up losing money when you sell a timeshare. If you are in this situation, a timeshare resale does not make financial sense.
- Timeshare Donation: Some organizations will accept timeshares as a donation. They will then sell the timeshare and use the profits for whatever they see fit. In some cases that can be a great answer to the question of how to get rid of a timeshare. You get to write off the value on your taxes as a donation and help a good cause.
Keep in mind, though, it can be difficult to find an organization that accepts timeshares as a donation. If your timeshare is not highly desirable, they may not take it. Also, some places will take a timeshare donation, but they are not legitimate charities, so your donation is not tax deductible. In short, sometimes it can even be difficult to give your timeshare away.
- Timeshare Cancellation: One option that is usually the best way to get rid of a timeshare is to do a timeshare cancellation. This is a less well-known option because the timeshare industry doesn’t want you to know that you can call a timeshare exit team who can help you get rid of your timeshare.
When you do a timeshare cancellation, you get out of your timeshare contract without any extra fees or hassle. Even once you account for the timeshare exit team cost, it is still the most cost-effective way to get rid of a timeshare.
If you need to do a timeshare cancellation, you need the professionals. Our timeshare exit team cost is affordable, and we offer a satisfaction guarantee on all of our timeshare cancellation services. Don’t own your timeshare for longer than you have to or lose a bundle by doing a timeshare sale. Call us today to get rid of your timeshare easily and quickly.
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