US Consumer Attorneys
Timeshares - When a Vacation Investment Goes Wrong
Selling Timeshare Certain developers offer a buy back option to the customer. You may then be able to sell back the timeshare to the developer but for a very low price attached with a big resale fee. While this may not seem like good math, in the long run this sale will save you a lot more. Websites such as Craigslist or redweek.com allow timeshare owners to sell their property. More often than not though, the selling price is only 25 percent of the original price. Like real estate, timeshare disposal can also take place with the help of brokers. Identify one that earns his money through commissions after a sale takes place and not one who charges an exorbitant listing fee.
Rent or Donate Timeshares A timeshare deed can be donated to charity organizations that will sell the timeshares on behalf of their organization for a very reasonable amount. This means you can be exempt from tax as well as loan and interest payments. After the timeshare rescission has passed, you can employ the services of a company that will help you exit quickly from your timeshare contract. Paying the maintenance fee and the loan installments may be extremely tough. This is where renting out a timeshare on rental marketing websites, can help generate some temporary income till the time you can settle on a permanent solution. Many timeshare owners pay other people to take over their timeshare obligations this is also known as “relief timeshare�. Once a bargain has been made, you are no longer required to make any more future payments.
Loopholes in Timeshare Contracts Although timeshare contracts are legally binding, depending on the circumstances and language used, agencies may be able to find ways to achieve timeshare disposal. Reputable timeshare cancellation attorneys can help you go through the fine print and see if there is something missing in the contract. You can also contact the consumer protection agencies and send a letter stating the reasons for termination of the timeshare contract. Timeshare rescission is possible without any penalty by clearly going through the specific details of termination of contract. Even if you are past the rescission period, certain laws or states allow you terminate a contract within a period of days or weeks. If all else fails, seek legal help to severe your timeshare contract once and for all.
Thank You