The Top 10 Worst Timeshare Companies: Avoid These Scams!
July 30, 2023
Looking for insights into the typical expense to exit a timeshare? You’ve found the right source. Timeshares, or shared vacation ownership, allow individuals to purchase the use rights for a specific time period at a resort. This kind of purchase includes access to the resort’s amenities, such as a restaurant, bar, gym, pool, and more.
Timeshares are favored by those who like the concept of vacation ownership, as it’s a simpler route compared to acquiring another property with a mortgage.
However, lifestyle changes over time. Your preference for vacation destinations may evolve, and you might find the repetition of visiting the same location tiresome. In such cases, you might feel stuck in your timeshare contract, joining the 85% of timeshare owners who wish to exit their timeshares.
For any queries related to the typical cost to exit a timeshare, don’t hesitate to reach out to us via Live Chat or fill out the form on this page for a free consultation. Our experts are also available at hello@timeshareexitsupport.com to assist you.
Initially, timeshares seem like an appealing way to enjoy holidays. However, with time, various factors may make this choice less attractive. Remember, exiting a timeshare can be more challenging than you anticipate.
The primary issue with timeshares is the recurring maintenance fees. These fees, which increase yearly, are payable irrespective of whether you use the resort or not. The charges are determined by the developers, timeshare companies, and government.
Timeshare contracts are typically ‘in perpetuity,’ implying that the financial commitment may extend to future generations. Should you fall behind on payments, you’ll face constant collection calls, adding to the stress.
Moreover, your taste in holiday destinations might change over time, and the novelty of your timeshare might fade.
Various incentives may lead you to purchase a timeshare. However, it’s critical to be aware of the common misrepresentations timeshare salespeople might use to secure a sale.
Here are some of the frequent untruths told by timeshare salespeople:
Promising to sell your existing timeshare to buy a new one, then failing to do so. Presenting it as an investment opportunity. In reality, if timeshares were such a great investment, 80% of owners wouldn’t be seeking to exit them. Offering bonus weeks or rental programs as sales tactics, which are seldom honored later. Assuring that the maintenance fee will remain unchanged for life, which is untrue as it generally increases by about 4% annually. Suggesting that you can sell your timeshare weeks for profit. However, current listings on sites like eBay or Craigslist might surprise you with timeshares listed for as low as $0 or $1. Promising discounts on airfare, cruises, and car rentals, only to later backtrack. Suggesting that you can rent out your timeshare, which is often a difficult task. Offering free exchange with another timeshare, only to later require an upgrade of your timeshare for this exchange. Estimated Expenses to Exit a Timeshare The typical cost to exit a timeshare largely depends on the method you choose. Owners usually have seven different options. These are detailed below along with their relative costs and required effort.
In many countries allow owners to return the timeshare to the company for a full refund within a specified rescission period (typically 3-14 days). This method is cost-free and requires minimal effort.
Deed Back to the Timeshare Developer: If you don’t want to sell your timeshare, this option might be the best if it’s available. The fee charged by the developer usually ranges from $500 to $2000.
Selling the Timeshare Yourself: This can be difficult due to the depreciation in timeshare value post-purchase. The costs here mainly involve advertising, which can range between $50 and $125.
Selling Through a Timeshare Broker: This works best if your timeshare holds decent value. The cost here is determined by the broker’s commission and requires minimal effort from you.
Using a Timeshare Transfer Company: This is a good option when the developer needs inventory. The cost for this option can range between $500 to $3000.
Timeshare Exit Company with Lawyers: This is often the most expensive method, ranging from $4000-$15000, but it’s also one of the only ways for owners who still owe a mortgage on their timeshare. This requires a moderate level of effort from the owner.
Timeshare Exit Company without Lawyers: This is usually cheaper than the option involving lawyers but may not always work. Costs can range from $2000 to $15000, and it requires a high level of effort.
In conclusion, exiting a timeshare can be an expensive and complex process, so it’s crucial to consider your options carefully before purchasing. Typically, the more effort you’re willing to put into the process, the less expensive it will be. Reach out to our team for a free consultation and advice on the best exit company for your situation.
Have a query about our services or need clarification on something? Don’t hesitate to reach out; we’re here to assist and guide you.
Guiding Your Path to Freedom: Connecting You to Trusted Timeshare Exit Solutions