The cost of timeshare exit depends upon the timeshare exit company, the type of timeshare, and other factors. The price of a timeshare usually starts with an upfront fee which associates with the cost existing within the timeshare.
Signing the deal with the timeshare cancellation companies saves money and provides peace of mind. The legit timeshare cancellation companies can cost up to a few thousand dollars. So, nobody feels the physical, mental, and financial stress given by the timeshare.
Let’s find out more about timeshare exit costs!
3 Reasons People Want to Exit Timeshare
A first timeshare seems a good option; without any hassle, you can get the resort and stay whenever you want. But after, sometimes things don’t go smoothly, and you end up researching for a legit timeshare cancellation company.
- Growing maintenance fee- The continuous increases in the maintenance fee are the main reason for most of the timeshare exits. If you are not using your timeshare but you have to pay the maintenance fee on a regular basis.
- Finances Change- Money is not a lifetime guarantee which means your financial situation can change. When purchasing the timeshare, you were financially stable, but now you are not in a condition to pay extra finances for the timeshare.
- Fake promises- The main problem many timeshare owners deal with is the hidden terms and bogus promises made by the developer. Developers keep you uninformed by property information which can prevent you from signing the deal. Developers also mislead people about the profit and loss of the property.
Average Cost of Legit Timeshare Cancellation Companies
The average cost of your timeshare depends upon how you exit the timeshare, which company you select, or many other factors. Mostly, timeshare owners choose one of these below-mentioned methods. Let’s discuss them in detail.
Here are mentioned three different methods of timeshare exit:
- Recession Period- Many countries have made rescission laws for a timeshare exit. The Recession law permits the owner to return the timeshare directly to the developer and can get a full refund. The recession period is different in every country, but primarily countries have three to fourteen days of the recession period. This method is free of cost and requires less effort. Only you need to send a recession letter in a defined format.
- Sell the timeshare online- Selling the timeshare sounds easy, but in actuality, it’s not. Paying an upfront fee for selling the timeshare is a waste of time and money. The main reason for this is how much the timeshare value is decreased after your purchase. You can search on eBay for timeshare sales; you will get the owner’s list for their timeshare for as low as 1$.
- Timeshare exit companies have attorneys-. This method is more working and less expensive than working with a lawyer. It is always better to hire licensed and knowledgeable attorneys who provide an effective solution for your case. Choosing this method to get out of your timeshare will cost around 2000$ to 15000$. Lawyers have more knowledge about the laws of property and contracts; they can efficiently get you out of a timeshare contract. This method requires more effort from the timeshare owner’s side.
The average cost of a timeshare exit costs up to a few thousand dollars. Timeshare ownership seems a good choice at first, as it comes with lots of benefits, but in actuality, it’s not less than a challenging thing.
Getting out of timeshare ownership seems simple till its recession period. Apart from the recession period, the timeshare exit process includes steps like hiring legit timeshare cancellation companies and attorneys. Each step and method can cost around $200 to $20,000.