Timeshare appears like an excellent opportunity for vacationers to spend holidays in luxury apartments and resorts every year. High maintenance and membership fees can be the first reason why timeshare owners finally decide to exit timeshare, though. The bad news is that these maintenance fees tend to increase over time! Some timeshare owners apply to a professional timeshare exit company or a lawyer to legally get out of their ownership. Today, we’ll try to figure out a time exit team: how long does it take to cancel your timeshare contract.
How long do you have to cancel a timeshare after signing up for it?
Most timeshare contracts contain a deed-back clause, allowing owners to cancel a new timeshare contract legally and without any additional penalties. The time individuals can get out of their timeshare is called a cooling-off or rescission period. How long do you have to cancel a timeshare contract? Well, it lasts no more than a couple of days after signing a contract, depending on the state laws. The timeshare rights of the rescission period are seven days in Hawaii, while the cooling-off period is ten days for timeshare owners in Florida.
Check your timeshare contract after you sign a contract and realize it was a big mistake. You still have some time to cancel your purchasing decision. If you are still in the rescission period, you are likely to be required to write a cancellation letter for your timeshare company. Your goal is to send a written letter to certified mail as soon as possible explaining why you immediately need to cancel a timeshare agreement. Refer to the local attorney’s office to find out all the details about a timeshare cancellation process.
How long does a timeshare exit team get you out of a timeshare?
Some people apply to an individual attorney for exiting their ownership, although hiring a professional timeshare exit company appears as a better idea. Such teams are experienced enough and have the proper expertise to help you get rid of unwanted property without any hassle. Furthermore, avoid fraudsters that are pretty widespread in the current timeshare industry. Such companies are likely to ask you to pay upfront fees or ask for a credit card number before you sign a contract with them. It might be the first sign that you encounter an unscrupulous organization.
Keep in mind that the services of a reputable timeshare exit company don’t cost cheap. On average, you will have to pay between $5.000 and $6.000 for getting out of a timeshare contract. This process can take 12-18 months for professionals to perform. Nonetheless, the timeframe and cost depend on a range of significant factors, like the number of contracts attached to your timeshare. The more contracts you have on your timeshare that are related to any upgrades, the more work your timeshare exit team has to do and the longer it will last.