F.A.Q.
Explore our FAQ section to find comprehensive answers to commonly asked questions about timeshare legalities and our services. From understanding your rights as a timeshare owner to learning about the intricacies of timeshare contracts, our curated list of frequently asked questions provides valuable insights.
Getting out of a timeshare yourself is very unlikely if you are not familiar with the process and could make future efforts impossible. Doing the research before proceeding is critical. So how should owners execute their own exit? Try following the steps below.
- Rescission: Most states provide timeshare owners a cancellation period between 3 and 14 days. If you purchased your timeshare and are still withing this rescission period, you should research the state laws of the state you purchased in and follow the details of that statute to execute a cancellation.
- Ask your timeshare company to let you out. Many timeshare companies claim to have their own exit program. It is important to know that all of them require owners to be and stay current on their maintenance fees and to have paid off their mortgage to qualify for their exit program. Also know that many have waiting lists years long so the sooner you get on their list, the sooner they will review your case. Beware of upselling when you call to request a release. Most timeshare companies will try to sell you more points or weeks to solve whatever problem is pushing you to seek an exit from your timeshare.
- Try to give the timeshare away to a friend or family member. In order to give away your timeshare the following must be true.
- Your timeshare company allows transfers to 3rd Many do not.
- Your mortgage is paid off and your maintenance fees are current. There can be no liens, encumbrances, or claims against the timeshare.
- You will need to hire a title company to execute the exchange through the timeshare company and to record the transaction per county recording requirements.
- You will be responsible for the transfer fees charged by the timeshare company, the cost of the title company, escrow and recording fees.
Getting started is simple. Just give us a call to speak with one of our Intake Specialists who will guide you through the process. The Intake Specialist will collect key information from you such as whether your timeshare qualifies for our transfer services, the date you purchased the timeshare and the sales tactics used during the presentation. If you do not have this information handy, our Intake Specialist may be able help you locate it.
The cost of the service varies based on a variety of factors, for example which of our programs you qualify for, the details of your situation, how long you have owned the timeshare and what state you reside in. We have found that we are very price competitive and are confident that we offer the best value in the timeshare relief business. Whatever the cost of getting out of your timeshare is, it will always be a small fraction of the cost of staying in your timeshare!
In most situations the timeshare company will try to collect on the unpaid balance and suspend your usage rights. Owners should expect collection calls, negative marks on their credit reports, a decrease in credit score, and potential legal action.
Recently we have seen some owners seeing none of this activity despite being years behind on maintenance fees. This appears to be a desperate attempt by timeshare companies to avoid reporting bad accounts to their stockholders for fear of stock price decline.
Timeshare exiting is the process of permanently getting out of your timeshare and the ongoing obligations to include future mortgage, maintenance fees and special assessments. Exiting a timeshare is different from transferring a timeshare to a 3rd party. You should expect to pay an exit firm to execute the detailed steps required to in timeshare exiting. Beware exit companies that cannot or will not tell you the steps they take to execute your timeshare exit.
Unlike other real estate, timeshares do not appreciate over time. In most states it is illegal for a timeshare company or their salespeople to claim a timeshare is similar to real estate, is a sound investment, or that the timeshare will appreciate in value. Most timeshares have little to no value outside of the usage rights of the owner. Even then, many timeshares are cheaper to rent on the internet than own.
The reality is the price of a timeshare is set by timeshare companies. The high-pressure sales process is then developed to justify this price. Too often these sales presentations are full of lies and omissions that are designed to trick good people into purchasing their timeshares. This is why over 85% of timeshare owners regret their purchase and want to pursue a timeshare exit.
Unlike other timeshare exit companies you may have researched; we do not believe that you should have to choose between your credit score and ridding yourself of your unwanted timeshare. The vast majority of our clients see no impact to their credit and if there is an impact, we will work with you to make sure that your credit is protected and repaired if anything transpires.
TimeShare Help Center is the only timeshare exit firm that utilizes our proprietary 3-pronged process. Additionally, we successfully negotiate releases with clients in as short as a month, however timeframes vary based on which of our programs your timeshare qualifies for. Overall, Timeshare Help Center delivers quicker resolutions than any other timeshare exit company.
