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What you need to know about getting out of a timeshare agreement

On Behalf of | Feb 23, 2022 | International Real Estate |

Some may feel excited initially when they obtain a timeshare in a new location. However, others may begin to feel that getting one was a mistake and not right for their lifestyle.

Whether you have gotten a lot of use out of your timeshare, or are looking to find your way out of it quickly, you might feel trapped once you are no longer interested. The reality is, though, that you do have options for freeing yourself of this obligation.

Reach out

Typically, contracts you signed for your timeshare are binding. However, there are ways that you can get rid of a timeshare that you are no longer using. In some cases, there may be a deed-back option available. By reaching out to the timeshare developer you can find out if this is a good option for you.

Understand your options

If you have spoken with your developer and realized that a deed-back option is not viable, then you may want to look into selling your timeshare. This process can be straightforward, but it might not always be easy. Your success with this option can depend greatly on the market. You may have to prepare yourself to sell your timeshare at a loss.

Owning a timeshare can be exciting, but it can also have its drawbacks. Even if it is important to you to rid yourself of a timeshare, it may sometimes require some patience and research. The upside is that while it can seem complicated, it is possible to get help meeting your goal.