How To Get Out Of A Timeshare Ownership

But once the initial allure wears off, they are usually left drowning in a sea of hidden costs and other hassles

. Before long they find themselves wondering what they can do to unload it.

Unfortunately, it is difficult and costly to resell timeshare. There is simply not a strong market for it. The properties do not retain their market value (assuming they had any to begin with), and savvy consumers have gotten wise to rampant scams. Companies claiming to specialize in the resale of timeshares often charge exorbitant upfront appraisal fees. Going through a traditional realtor means paying commission and closing costs. Your best bet may be to try an online auction site such as eBay, but of course there are no guarantees you will get a return on your investment.

Depending on how long ago you made the purchase, you may be able to reverse your decision simply by writing a letter. Timeshare contracts typically contain a rescission period a predetermined length of time during which you can cancel your agreement for any reason. This varies from state to state and can be anywhere from 3 to 15 days, so be sure to check the fine print.

Otherwise consult a lawyer who can look over your timeshare contract and determine if there is any legal ground for nullification. Timeshare companies count on the fact that you were too excited and distracted to read through the agreement thoroughly before signing. If there are any terms or conditions written in the document that were not mentioned orally, or vice versa, the contract could be found fraudulent and you could be released from obligation.

Most importantly, don't back down. If a pushy salesman lied to you, misrepresented what he was selling, or failed to disclose any information about the transaction, you have the right to defend yourself and cancel timeshare headaches once and for all.

by: Douglas Davenport

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