For many, timeshares offer a once-in-a-lifetime chance to own a thin slice of paradise 1-2 weeks each year.
Just as often, however, that paradise can slowly turn into a financial nightmare as maintenance fees, special assessments, and other timeshare-related costs continue to spiral out of control — making timeshares seem like more of a burden than a blessing.
It’s at this point that many timeshare owners finally reach the end of their property’s life cycle and begin to look for a way out. Unfortunately, as they soon discover, timeshares are nearly impossible to sell and almost as difficult to give away. On top of that, they have no idea who they can trust or where they can turn for help.
Luckily, there are straightforward answers to these difficult questions, but owners must be willing to conduct their due diligence to discover a low risk/high reward solution to their timeshare problems. Keep reading to learn the three keys to permanent timeshare exit!
1. Now is The Time to Exit Your Timeshare
While many timeshare salesmen will insist otherwise, timeshares are not a financial investment; the value of the property begins to decline the moment the owner signs the contract.
Even Howard Nusbaum, the president of the American Resort Development Association (ARDA) admits that timeshares are not a sound financial investment: “Timeshares should never be thought of as financial investments.” Instead, he suggests that timeshares are best-suited for families with the means and resources for annual vacations.
In addition to (and perhaps because of) the fact that timeshares are financial liabilities, the secondary market is basically nonexistent.
There are tens of thousands of timeshares available online for less than $1, and most of those properties have been sitting there unclaimed for months — even years — which means that most owners are extremely fortunate to ever receive a fraction of the original purchase price of their property.
As a consequence, the largest payoff a timeshare owner will ever receive is being permanently relieved of annual maintenance fees, which are rising at an alarming rate every year.
In short, your timeshare will never be worth more than it is at this exact moment. If you’re considering ending your ownership, now is the time.
2. Work With A Trusted Timeshare Exit Professional
Unfortunately, ending a timeshare contract isn’t nearly as easy as entering one.
Most timeshare owners purchase their properties during or immediately after a high-pressure sales pitch. They wake up one morning in search of a complimentary breakfast and a couple free lift tickets and go to bed owning two weeks at a resort in Branson, Missouri.
The best option for a quick, effective, and guaranteed timeshare exit is to transfer the property with the help of a trusted and experienced group of professionals who have been operating in the timeshare exit industry for at least five years. These individuals can help timeshare owners discover the most efficient exit strategy, handle all the necessary paperwork, and communicate directly with resort officials to permanently eliminate their timeshare obligations.
Unfortunately, there are literally hundreds of companies scattered throughout the United States that are either completely unqualified to assist timeshare owners or, worse yet, scam artists waiting to feed off the desperation of millions of dissatisfied timeshare owners.
So be sure to study each potential company — how long they’ve been in business; what their former customers have to say about their services; and their reputation with the Better Business Bureau and other consumer protection agencies in your region.
3. Beware of the Timeshare Exit Sharks!
Other than the timeshare industry, the timeshare exit industry probably has more con artists and swindlers than any other business in the United States.
At any given moment, these individuals are creating any number of new schemes to manipulate timeshare owners’ trust and capitalize on their desperation. Once their plans are complete, your wallet is empty and you’re no closer to being free of your unwanted property.
Therefore, if a timeshare owner is interested in a viable exit solution, they must conduct their due diligence through tireless research — both online and over the phone. You should be willing to put in the necessary time to investigate any company you are seriously considering.
For instance, make sure to take note of their Better Business Bureau reviews, fee arrangement, length of existence, and specific details of any guarantees they are offering.
Additionally, all legitimate companies will have a physical address, and any company claiming they can secure a profit for your timeshare is likely making a promise they simply can’t keep. Worse yet, they could be a scam company hoping you’ve never read articles like this one.
Lastly, make sure to follow up with the FTC to verify the legitimacy of any companies you’re considering.
Once you do discover a trustworthy and reputable company, remember there are numerous factors that will influence how the exit process plays out. These include location, seasonality, unit size, and the age of the resort development, among many other variables that could affect the exit timeline.
A good example is the reputation of your resort or if they do a good job maintaining the grounds. After all, owners paying exorbitant maintenance fees want to see results, so look for a company that is willing to overcome obstacles, endure hardships, and accept financial responsibility for all their clients.
Seize Your Opportunity!
Finding an affordable and permanent end to a timeshare contract isn’t easy, but that doesn’t mean it’s impossible.
The trick is to confront the situation head on: do your research, ask the right questions, and make your decision as a family. With the right help from the right company, you can become timeshare-free once and for all!