With such a high rate of owner satisfaction, it might be surprising to know that there are vacation owners looking to exit or get out of their timeshares. Many owners enjoy their timeshares for years before deciding to pass on their property to another owner. Sometimes, an owner’s financial or family circumstances change and their vacations follow suit. If you find yourself in a similar situation, there are ways to exit your timeshare agreement safely and legally.
What Is Timeshare Exit?
Timeshare exit is exactly what it sounds like! Owners looking for a way out of their timeshare consider “exiting” as a solution. Whether your timeshare exit strategy means selling your ownership on the resale marketplace, contacting your developer, or giving your interest away, these are all forms of “exit.” Exiting your timeshare is possible with the right help and guidance. But there are some unscrupulous companies out there that claim false information. For resources that protect you as an owner, head to ResponsibleExit.com to find the right options for you. The Coalition for Responsible Exit is formed by ARDA, the timeshare trade organization that advocates for timeshare owners and the industry as a whole.
Best Timeshare Exit Strategy
If you’re in need of getting out of your timeshare, it’s best to come up with a plan of action. As a Member of ARDA, we want to lead you to the most suitable solution. Our first recommendation is to contact your developer, as they may have in-house exit programs. Programs like Wyndham Cares or Horizons by Holiday Inn are safe and provide honest solutions to protect owners. Remember, developers exist because of your business. In other words, they want to keep their customers happy. Giving your developer a call should play a key role in your timeshare exit strategy.
Avoid Misleading Companies
Vacation ownership, like many other industries, attracts scams from time to time. You can find the latest red flags for timeshare scams on our blog. There are a few things to keep in mind when preparing your timeshare exit strategy.
Any company that promises a 100% money-back guarantee sounds like a good idea, but always read the fine print before using these services. Many timeshare exit companies with this claim will only grant refunds after several months (or years) of working on your contract. Their upfront fees can cost upwards of thousands of dollars and they state in their agreements that a foreclosure or forfeit of ownership is a legitimate “win.” You’ll be sacrificing your credit score, as well as the upfront fee you paid them.
You should also never stop paying your timeshare maintenance fees. If a company advises you to stop paying your annual dues, this is a red flag. Your maintenance fees are legally binding and must be paid, or you will likely foreclose on your timeshare. This will go on your credit report and can harm your credit standing longterm.
Advertise Your Property on a Trusted Timeshare Resale Marketplace
Trusted timeshare resale companies have a great interest in maintaining positive relationships with developers, industry organizations such as ARDA and their customers. They deal with timeshare resales on a daily basis and know the business inside and out. Reputable resellers can even direct you to an affiliated broker that can assist with finding a buyer. Timeshares Only follows a strict code of ethics created by ARDA, the American Resort Development Association. ARDA members are held to the highest standards in the timeshare industry. We also have a maintenance fee relief program, known as TO GO. TO GO can offer you cash towards your annual dues while your timeshare is posted for sale on the market.
With Timeshares Only, you will have personalized services to help sell your timeshare. When you contact one of our representatives, we’ll walk you through step-by-step and create an eye-catching advertisement on the largest resort marketplace. Our inventory is accessed by a network of real estate brokers and buyers.
Sell Your Timeshare With Timeshares Only
Ready to post your timeshare for sale? Timeshares Only is a Member of ARDA, with an A+ Rating on the BBB as an Accredited Business. Fill out the form below to get started.