Research shows that 85% of timeshare owners are looking for a way to exit! It is usually motivated by a number of factors. It could be that the maintenance fees are no longer affordable. The holiday destination preference could have changed or perhaps the management of the timeshare might not be serving your interests. Whatever the reason, there is always the right way to exit your timeshare, as we expound below.
Contact your developer
When you are done using your timeshare, your developer should be your first call. Call them and ask about the free exit options that exist. This has the potential to save you thousands of dollars and a lot of pain that is often the case with the process. Well, you ought to be honest with your situation.
For example, instead of just having to say that you do not want the timeshare anymore, you can say that “I have owned the timeshare for the last decade, I have a grandchild I am now taking care of and may not be able to travel and be away anymore. The situation with the pandemic has also made it difficult to travel.”
It will make your exit case stronger. It will increase your chances of having a seamless process.
Rent your timeshare out
If you hold a mortgage on your timeshare and feel the financial pinch of maintenance fees, renting out your timeshare may be a viable option for exit. Consider if your timeshare contract allows you to sublet, and you can list it on the platforms for sharing, such as Airbnb. Make sure to list it on popular platforms that offer proper advice and options on how to list it for greater visibility.
Use a timeshare exit company
Timeshare exit companies provide you with the expertise needed to evaluate the cost of your timeshare. They also bring in their years of experience to understand the particular requirements needed to sell the timeshare. However, getting a genuine timeshare exit company might prove difficult these days. How do you identify a potential scammer?
For starters, any company in genuine business will not demand fees upfront. They will take time to assess your timeshare and evaluate it. To get a proper glimpse into the process, you can read about timeshare compliance and other reviews to learn more about companies before picking the right one. Make sure you find a timeshare exit company with proven track record in the industry. It will help getting out of the deal smoother.
Sell your timeshare
Another option for exiting your timeshare is by selling it. While preparing to sell, you need to establish if it is eligible for sale then determine how much it is worth. You can do so by checking with a real estate agent or looking online for timeshare resale sites to get an idea of the pricing. The next step is to list your timeshare for sale online. Again, it is best to choose a website that does not demand upfront fees. You can also speak to the owner who bought the week before or after yours, as they may want to purchase the contract to extend their vacation. It is one way to make the process seamless and less costly for you.
Your timeshare may no longer be serving your vacation needs. You might want to change the location of your timeshare at some point. You might also want to stop paying the high maintenance fee. Whatever reason you may have to exit your timeshare, it is prudent to know how you can do so the right way to save your money. This article elaborates on the possible exit options you can explore.