After the initial fun of a timeshare wears off and you become more aware of the real responsibility and burden these properties impose, it isn’t uncommon for owners to wonder how to get out of their timeshare contract. Unfortunately, the answer to this question is pretty complicated and relies heavily on a variety of different factors.
Usually these factors include how much your timeshare is worth on the secondary market (also known as fair market value), what kind of timeshare you own, how much is owed on the timeshare, if you are current on your payments, and what developer your timeshare is from. Depending on these factors, you usually have a few options for how to get out of your timeshare contract, including donating it to charity, giving it back to the developer, giving it to someone else, or the most common choice, selling.
When I wanted to sell my timeshare I took a few different approaches. At first I tried to sell it on my own. I figured this would get me the best return on my property, even though I knew my timeshare was only worth a fraction of what I originally paid for it. However, it took me months to find even one interested buyer, and when I tried to communicate with my resort and transfer the title it took even longer, causing the deal to fall through. It definitely wasn’t worth to stress and trouble for the small amount of money I would have gotten.
That’s when I decided to try a timeshare resale company. I heard a lot of bad things about these companies, but after doing some research and talking with some professionals I was able to find one that was actually able to help me sell my timeshare quickly and get me out of my timeshare contract once and for all.
Take some time to review you situation and talk to some people who know what they are doing. They will help you find the best way to get rid of your timeshare and avoid having to pay any more of the bothersome (and expensive!) fees that come with these properties.