A majority of the people acquire timeshares as a way of investing their hard-earned money and increase their sources of income. However, down the road, the timeshares demand maintenance costs and may fail to appreciate in value.
Such a situation can be frustrating and draining and may risk timeshare foreclosure in Florida, but the good thing is that there’s always a way out. The Law Offices of Susan M Budowski, LLC cites four effective methods to cancel your timeshare. They are as follows:
Giving It back
There is a chance of returning your timeshare to the resort. You should not owe them any amount of money regarding the assessment or maintenance fees.
State your case to the resort personnel and indicate how hard it is to keep your timeshare. They will take time to approve your request but will take it back eventually.
Completion of Rescission Period
Every timeshare contract has a rescission period where you have the chance to cancel the contract. The period will vary depending on the indication in the state laws. You will need to jot down a cancellation letter with your reason and relevant details about your timeshare.
Getting Professional Help
If you are having an issue with canceling your timeshare, you could use the services of a professional with experience in real estate. Of course, the help will attract some charges on your part. It is wise to ask for success stories before hiring a timeshare relief company to increase your odds of success.
Getting a Buyer
Transferring timeshares among individuals is possible. Some people are familiar with timeshares, and the fees they attract are not an issue to them. Although this is quite difficult compared with the rest, it is a valid option.
If you are struggling with your timeshare, you should not go another day without canceling it now that there are options. First, clear any outstanding charges and look for a suitable method to do away with your timeshare instead of getting timeshare foreclosure.