With a timeshare, the holidaymaker is granted the right to stay in the holiday accommodation for a certain term over several years at a certain time in the year.
Dubious sellers mediate the exchange of vacation use rights and claim that you can easily exchange your apartment with any other apartment at any time. The exchange is not free of charge but sometimes involves high costs.
This article will be helpful if you are planning to cancel the Timeshare contract. We are going to give you 7 steps to go to this cancellation process – Read on:
Step 1: Know about your contract:
Carefully check your contract and check if there is a clause on the withdrawal period. The timeshare salesperson will not let you know about this point, but it is important to know everything about your contract.
Step 2: Write up and send a cancellation letter:
Once you check and read Timeshare contract thoroughly, now you need to do is write properly a letter with a request that you want to Cancel Timeshare Contract.
You should include your name, purchase date, contact number, and address in the contract cancellation letter.
Step 3: Send your termination letter:
You need to send your termination letter (via registered e-mail) within the termination time specified in your contract. When you send an email, that you will have the assurance that you officially written cancellation of the contract and now they must respond. Also, it is advisable to keep a copy with you.
Step 4: Call the Company:
If you will not receive any reply from your mail, now it is time to make a call to your Timeshare company. Make sure not to be aggressive. Just let them know the reasons why you want to cancel Timeshare Contract.
Step 5: Don’t take the advice of timeshare reselling companies:
Most timeshare complexes work with reselling companies. And they will let you know that they can sell their timeshare.
Be cautious, if a company will contact you and will say that they have already a buyer for your property. If they will demand upfront fees it’s probably a scam, that’s the way they run the company.
Step 6: Keep following up:
If you do not have notification from your Timeshare company within 30 days, consult about it. Make sure to call or send an email to the Timeshare company and insist on your situation.
Step 7: Contact an attorney:
If you cannot terminate your contract or have not received a response from your company, now it is time to seek professional help. A timeshare attorney can help you break free from the contract.
Beyond your rescission period:
You can try sending a cancellation letter by certified mail to the company and stipulating the points why you need to terminate the timeshare contract.
Many times, timeshare companies will agree to terminate your contract when you pay a little fine, but in most cases, they disagree. The best thing to do if your rescission period has expired is to find a timeshare attorney.