There are a number of reasons timeshare owners are interested in cancelling their timeshares in Florida, and there are a few different ways to get out of timeshare ownership. How you exit your timeshare might depend on where you purchased it from and how long you have owned it. For free advice pertaining to your specific situation, we are here to talk!
Use Your Rescission Laws
One unique thing about getting rid of a timeshare in Florida is the length of the rescission period. State rescission laws allow you to cancel your timeshare contract generally within 3 – 14 days of purchase, varying by state. As of 2/13/20, in Florida, you have 10 days to send a cancellation letter to the timeshare developer informing them of your decision to rescind your purchase. Your purchase documents should outline the rescission process.
Using state rescission laws allow you to exit your timeshare contract for a full refund regardless of your reason for cancelling and without contest from your timeshare company. This option is always better than trying to sell the timeshare yourself because it guarantees you will get all of your money back. If you try to sell, there is a very good chance that you will lose money because timeshares almost always do not go up in value after purchase.
Contact Your Resort
If you purchased your timeshare more than a few days ago, we always recommend directly contacting your resort first if you are interested in cancelling your timeshare; they may have a program in place for owners. For example, Hilton has a “buy-back” option for some owners, and Marriott has both an exit and a resale program. Sometimes it can harder to use the resort’s “buy-back” program if you still owe a mortgage on the timeshare.
Selling Your Timeshare
You could attempt to sell the timeshare yourself. Many owners will advertise their timeshare on Craigslist or Ebay as a starting point. Some timeshares, such as Disney Vacation Club, do better in the market than others. You can also try to use a timeshare broker to help you with the sale. However, it’s worth noting that timeshare brokers work on commission so they generally only have interest in high value timeshares like DVC and timeshares in Hawaii.
Using a Timeshare Exit Company
Many timeshare owners choose to partner with a timeshare exit company after unsuccessfully trying to sell or give the timeshare back to their resort. This is where we come in. We help timeshare owners find the right company for your needs. Not all timeshare exit companies are the same. Some exit companies can only work with some timeshare brands while other exit companies work with all brands.
Up-front Fees vs. Escrow
Whether looking to partner with a timeshare exit company or a broker, consider using a company that offers an escrow payment option, rather than up-front-fees, for extra peace of mind. Learn more about escrow and how it can help you avoid scams here. The escrow option protects your money in the event that a company goes out of business or otherwise rescinds their money-back guarantee.
We do not sell timeshares, nor do we provide cancellation services – we provide free consultation to people interested in timeshare cancellation. Fill out a contact form on the right side of this page, give us a call or engage in live chat for your free timeshare exit consultation.