When purchasing a timeshare, you always buy an interest in a part of a real estate – commonly a resort condominium. Most people who sell timeshare are known for exaggerating prices for potential buyers. Sometimes you might even sign a timeshare only to realize later that the terms have changed.
Why Do People Cancel Their Timeshare Contract?
The truth is that most people who buy timeshare are often oblivious of the tax obligations and other hidden fees. That’s why many opt to change their minds when they discover that they were been short-changed. It is important to seek for timeshare cancellation help if you are not sure of what to do.
Many states have constituted laws meant to regulate timeshare transactions. The laws allows buyers to cancel their timeshare contracts within a certain period. This implies that if you enter into an agreement and realize later that the deal is not worth it, then you can cancel the timeshare contract.
How to Cancel Your Timeshare Contract
In order to successfully cancel your timeshare. There are certain things you should bear in mind. You can either do it on your own or seek for timeshare cancellation help from a lawyer. The following are some of the things to keep in mind:
How to Get it Right
The first thing you should do after receiving the contract is to check the number of days you are allowed to cancel the timeshare contract. If it is not indicated anywhere or you suspect anything wrong, then check what your state laws say about timeshare cancellations. Getting terminate timeshare help from experienced people can fasten the process.
Act Within the Cancellation Period
It is always good to do the timeshare cancellation in writing. You should include the following details in the cancellation letter:
Cancel in Writing
- Your full name as indicated in the contract
- Address, email and phone number
- A description of the timeshare
- Name of the timeshare company
- The date you bought the timeshare and
- Ad statement showing your cancellation
You should also ensure the contract indicates how the cancellation letter should be delivered. You can either send the letter through hand delivery or vial a registered mail. Remember that if the letter is not delivered in the manner outlined in the contract, then the cancellation might be considered invalid.
Deliver the Cancellation Letter
There are some states that allow timeshare legal cancellations even after the expiry of the allowed period. However, in most cases, you will have to file a lawsuit so that the court can give orders to the timeshare company to allow for the cancellation.
In a nutshell, it is possible to cancel your timeshare if you feel unsatisfied by the deal. Do not shy away from seeking timeshare cancellation help if you are not sure of what to do.