Timeshare is an $8.1 billion industry, with over 9.9 million people having timeshares or related products. Of these, only around 30% of folks are happy with their timeshare purchase. Others (70%) seek a permanent solution to rid them of their timeshare and live a 100% burden-free life.
One can eliminate a timeshare by cancelling it during the grace period. In the grace period, also known as rescission, you get all your money back. However, the grace period is only 3-15 days (depending on the state). Thus, one has to act faster. But what if the rescission period is over?
Will you get trapped with the timeshare forever? No, you can hire a legit timeshare exit company and get rid of your timeshare.
This article provides information on cancelling a timeshare after the grace period; keep reading for more deets.
Grace Period; What You Need to Know About it?
After buying a timeshare at any location, the purchaser gets a short window known as the rescission period. Generally, rescission is three to fifteen days, during which you can cancel a timeshare and get a refund. However, the time of the grace period varies from state to state.
If you have bought a timeshare recently, you can cancel your timeshare without any hassle. Ensure you put your request to the developer in writing and get the approval within that period (in writing). However, if the grace period has expired, you can cancel your timeshare with the ways mentioned ahead.
Options of Exiting Timeshare After Expired Grace Period
Cancelling a timeshare within the grace period is not difficult, so if you have recently purchased a timeshare and changed your mind, act faster and cancel it. But if the grace period has expired, you can cancel your timeshare through the following ways:-
Hire a Legit Timeshare Exit Company
You can eliminate your timeshare by hiring one of the best timeshare cancellation companies. These companies help you eliminate your timeshare contract legally without hurting your credit score. However, finding a legit timeshare exit is not that easy; you have to do some legwork to find the right fit.
While hiring a timeshare cancellation company, keep a few things in mind, like your budget, proven track record of success, reviews and ratings, etc. These points will help you find a legit timeshare exit company for you.
Sell Your Timeshare (Not Recommended)
If you think you won’t be able to work with a timeshare exit company, you can sell your timeshare on eBay. However, no one is interested in buying a timeshare with no real market value.
In case you find an interested buyer, you can sell it. Ensure to collect all the necessary documents and a copy of the agreement; otherwise, you may get into trouble.
Rent it Out (It can be Risky)
As mentioned, no one is interested in buying a timeshare with such high annual maintenance. So, renting your timeshare is also an option. But it is not a good option as if the tenant doesn’t pay the rent, you may get into trouble, or your credit score may hurt.
Getting rid of a timeshare after an expired grace period is not a cakewalk. Success is always full of bumps, but a legit timeshare exit company can make it smooth as silk. So, make sure you hold the hands of a timeshare cancellation company for a speedy exit.
Though a timeshare exit company can help you exit a timeshare quickly, if you have enough time to experiment, you can also consider other options.