What is the average cost of getting rid of a timeshare?
Table of Contents
On average, it costs about $5,000 to $6,000 and takes 12–18 months to get out of your timeshare contract using a timeshare exit company. But the cost and the timeframe can vary depending on a number of factors including, how many contracts are attached to your timeshare.
In some cases, timeshare owners may be able to sell their unit back to their home resort. If you’re sure you want to sell your timeshare yourself, remember to take care when choosing the platforms you utilize.
How can I legally get out of a timeshare contract?
Looking to Get Out of a Timeshare? Here’s How to Do It Legally
- Call the developer.
- Rent it out.
- Sell it on the resale market (expect to take a hit).
- Gift it to a friend, family member or stranger.
- Stop your payments (but expect consequences).
- Avoid scams.
How can I get rid of my timeshare?
How much a timeshare is worth are determined by factors such as:
- Ownership Type (deeded vs. right to use)
- Usage Type (fixed or floating week, points)
- Usage Frequency (annual, biennial, etc.)
- Week/Season (high vs. low demand)
- Home Resort and Location.
- Points Allocation.
- Unit Type and Size.
- Brand and/or Exchange Affiliation.
IT IS NOT SIMPLE, OR EASY TO SELL A TIMESHARE REGARDLESS OF WHAT SOME PEOPLE WILL TELL YOU (usually right before they ask for your credit card information) but it can be done if you take the time to research the resale market and know ahead of time how to spot and avoid the scams!
Can I sell a timeshare that is not paid off?
Can I sell my timeshare if I still owe money on it? Yes, you can still sell your timeshare even if you haven’t payed off the mortgage on it, though you will still be responsible for paying off your original debt on the property.
Can an attorney get you out of a timeshare?
What are Timeshare Exit Attorneys? Some lawyers have years of experience working in the timeshare exit industry. Their experience makes them experts in various legal strategies to get clients out of their timeshare contract, even after the rescission deadline. Every timeshare exit case is unique.
Hire a broker to sell your timeshare for you. Many people either do not have the time or the expertise to offload a condo quickly. For a percentage of your profits a broker will be able to sell your property for you. Find a timeshare broker in the area where the timeshare is located.
Should I invest in a timeshare?
How to Invest in a Timeshare. Look for a timeshare sold by the owner, rather than a developer. Similar to buying a new vehicle, timeshares lose value almost immediately upon purchase, so you’re more likely to find better deals on the resale market. Find timeshare listings through classified ads, online auction sites, bulletin boards, and timeshare and vacation forums.
How to decide what timeshare to buy?
Locations. Finding a location to visit is important because it will typically be where you are going to be vacationing year after year.
Price it Right. Pricing a timeshare can be tricky, and since timeshares typically depreciate in value – unlike buying real estate, a timeshare is not an investment – it is unlikely that you will be able to sell your timeshare for more than you paid for it.