5 Takeaways That I Learned About Timeshares

Is Timeshare Cancellation Possible?

For the past few years, there are several timeshare developers that have experienced significant growth of facilities worldwide. This growth was mainly because of the great business practices as well as generosity in their facilities. However, we can’t deny the fact as well that the aggressive marketing tactics of timeshare sales representatives have contributed a lot to this growth.

There are those who’ve bought timeshare on the other hand and decided that it isn’t for them or just can’t bear the expense of being a part owner. Because of this, they seek timeshare cancellation.

Now, timeshare cancellation is basically the procedure of deeding timeshare back to developers based on discrepancies in contract and sales process associated with timeshare contract. In some cases, the consumers will be able to recover a part or even all of the losses associated with the timeshare. On the other hand, to be able to qualify for a timeshare cancellation, it is imperative that the sales representative has indeed made a mistake before they become eligible for cancelling their contract. The truth is, there are fifty-two laws that are regulating the sale of timeshare to Americans.

There are many different ways that timeshare contract could be cancelled and this is through:

Number 1. Learn about what the contract is about – on your contract, see if there is a clause stating anything about rescission period. When you like to submit a rescission request, you may check out for specific details that concerns the contract’s deadline. Then, it is time to make a note of rescission deadline immediately as well as the instruction on how you want to cancel your timeshare contract.

Number 2. Write a cancellation letter – after finding out the information you need from the contract, next move is to create a certified letter which stipulates that you like to cancel your contract. On the letter, try making it short and concise and remember that you don’t have to explain everything. The most important thing is that, you are just exercising your right to rescind from the contract, following the terms of agreement. In cancellation letter, make sure that you’ve included your contact details, name and the date of purchase otherwise, it would not be valid.

Number 3. Send the rescission letter prior to the deadline – your letter will render useless if you fail to submit it before the given deadline in cancelling your timeshare agreement. With this in mind, see to it that you move fast to be able to avoid these unwanted issues.

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