If you are planning to buy a timeshare, the most important factors to consider are your timeshare exit solutions. If you know for sure that you really want to buy a timeshare, you should do so, but only after you have reviewed, considered, and agreed to all of your timeshare exit solutions should you need them. If you have an exit plan, then you are in the right position and frame of mind to purchase your timeshare without guilt.
When it comes to getting out of your timeshare, you have quite a few options. One option you have is to exercise your right of termination; however, this only applies if you are within the termination period specified in your timeshare contract, which can be 3-5 days and 7-14 days.
Your second option is to return it to the resorts, but it is very rare for the resort to actually get it back. You see, his timeshare is worth more in your hands than theirs because while it’s in their hands, you have to pay for it; if it was in his hands, they wouldn’t be making money off of you. Resorts rely on their annual maintenance fees to keep up with their operating costs.
Your third option is to sell your timeshare, but keep in mind that the resale market is filled with tons of timeshare owners just like you, maybe even in your shoes, trying to get rid of their timeshare. What this means to you is that the chances of you selling your timeshare are reduced with each timeshare that enters the resale market. The reason your chances are reduced is because some of these resale timeshares are as low as $1 on eBay while you are trying to get the “market value” of your timeshare (whatever that is). Newsflash: Your timeshare is worth as much as your used vehicle. Sad but true.
Your fourth option is to rent out your timeshare to generate a substantial enough income to cover expenses, at a minimum, at the end of the year after paying your annual maintenance fee and other timeshare-related fees (exchange fee, appraisal fee). special, etc). But even then, that doesn’t exactly solve your original problem of trying to get rid of it completely, so you’ll end up choosing one of the first two options anyway.
If the first options didn’t work for you, then your fifth option is to donate your timeshare to charity. At this point, you just want to give it away; he doesn’t care how much he gets for it, or if he gets anything at all. You just don’t want to be responsible for it anymore. However, the problem with donating it to charity is that most charities or non-profit organizations do not accept responsibility. That’s how it is. Here comes your second newsflash: timeshares are seen as liabilities, not valuable assets.
In a last ditch attempt to find timeshare relief, you might decide on something clever, like a deed of resignation to a bum or a cat (don’t laugh, it’s actually been done). The problem with “quick deeds,” however, is that they contain no guarantees to the grantor and dealer, so this plan of attack could come back to haunt you when your resort sends you off for collection and goes after your credit.
When all else fails, you’ve tried everything and you’ve almost got it, you can always pay someone to take it off your hands. This idea might bother you, but rich people do it in movies all the time. When he wants something taken care of, he pays someone to do it, and it’s done without breaking a sweat. If you’re tired of sweating for your timeshare, you might want to consider this latest timeshare checkout solution.
If you can accept these 8 timeshare exit solutions and incorporate one or all of them into your timeshare exit plan, then you’re in good shape to buy your first timeshare. Enjoy it while you have it.