Getting Out Of A Timeshare Contract Is Hard But Possible
As attractive as a timeshare may appear to begin with, owners can always have multiple reasons to cancel the same. Fraudulent terms, high maintenance fees, interest rates, unclear terms, etc are often realized by timeshare owners with the passage of time.
Timeshares initially saw huge popularity in various countries around the world. Timeshare in Canada saw a huge surge in the last few years. That said, there have been equally high instances of consumers looking for timeshare attorneys in Canada for cancellation purposes.
Most people sign a timeshare deed without truly researching the company or understanding the terms mentioned in the contract. And we can’t blame them really. Aggressive sales strategies adopted by timeshare companies in addition to hidden aspects of the contract are hard to understand.
The truth about timeshares What most consumers do not realize is that the timeshare maintenance fees (averaging to around 12% per year) tend to increase over a period of time. While most timeshare companies may hide the fact, the same is true. Additionally, the properties that look too good to resist can often look run down in a period of ten years or so. This causes a serious depreciation in the value of a timeshare within a period of a few years.
Consumers planning to resell the timeshare after they’ve used it often end up losing a substantial amount of the original money that they invested. The overall market for timeshare resale is generally poor with huge variations. Further, timeshare mortgage in Canada and other countries can be hard and if you add the mortgage balance to it, the same gets nearly impossible to manage.
Also, by the time consumers think of a timeshare cancellation in Canada or other countries, the rescission period has often lapsed with the owner companies paying no heed to the requests of the consumers.
How to cancel a timeshare? The worst scenario is to settle down with something that you’re not comfortable with. While canceling a timeshare is not easy, it is clearly possible with the help of reputed timeshare lawyer in Canada experienced in contract cancellation and state laws. Needless to say, a timeshare that’s still within the cooling period can easily be canceled with the timeshare owning companies bound to accept the same. In instances where the period has lapsed, the cancellation depends on the finer terms mentioned in the contract.
A timeshare attorney in Canada can assist you in working out a strategy to successfully achieve the same. With expertise in developing proven timeshare cancellation programs, they will be able to assist you in a plan for timeshare exit in Canada. A one-time fee spent on hiring a reputed timeshare attorney in Canada is often worth the value, considering that it will save you the huge and recurring amount that you spend on a worthless timeshare year after year!