How to Legally Get Out of a Timeshare Contract

timeshare contract

timeshare contract

Have you recently been conned into signing a contract with a timeshare company? Do you want to get out of your timeshare contract, but you have no idea how? Did you know that more than 9 million Americans own timeshares? If you are one of the many millions of people who own timeshares and want out, you are not alone.

It is gut-wrenching when you realize how these awful salespeople are. These people tricked you into signing something that benefited them more than it benefits you. There is no need to fret; there is a way to get out of your timeshare purchase.

If you are looking for more information on an exit company that will help you get out of your timeshare contract, then you came to the right place. In this brief article, we will go over how to get out of your timeshare and who you can contact to help facilitate the cancellation of your contract.

Timeshare Sales Tactics

Popular to contrary belief, you can’t just go down to a local timeshare storefront and purchase a timeshare. Many timeshare companies like to bait customers with a gift. This tactic makes you feel like you are obligated to come down to their conference. Once you are in that hotel conference room, sales representatives will use high-pressure sales tactics.

You will notice that you aren’t the only person in the conference room. Several other people also show up to hear about the timeshare and the many “great benefits.” The first few minutes of this conference are fun and full of entertaining energy.

While you are engaging with the speaker, some high-quality sales representatives watch you and read your body language. These salespeople have received a specific type of sales training that teaches them how to target specific people who have the highest likelihood of purchasing the timeshare.

Targeting Specific Buyers

After the brief presentation, the sales team will most likely move you to another room where they will become more personable towards you. They use this personable tactic to pull information from you.

They will use that information later when they want to make a sale. After going over where you can travel with this timeshare account, the salesperson will give you a very high asking price.

These sales representatives know that you will initially say that you don’t want to pay that much. They want to object to this price so they can offer you a “better” one.

These representatives won’t expect you to get up and walk away. This company knows that you feel obligated to stay because of the show and because of the free gift when really, you can walk away at any moment. If you decide to stay, the representative will then deploy their next tactic of “lowering the price.”

Agreeing on a Price

After sitting through the conference and speaking with the representative for hours, you start to become weary and mentally exhausted. This is what these sales representatives want.

They want you to become psychologically manipulated to the point of submission. Once these reps have you in agreeance, they will offer you their actual price point.

This price point is much lower than the initial price point. They use these different price points to make you believe that you are getting an excellent rate. Leading you to believe that you deserve all these amazing vacations.

What Is Timeshare Termination?

Timeshare termination is the process you go through to exit your timeshare purchase and receive a full refund without any penalty. The period of time that you sell your timeshare will determine whether or not your receive a refund. If you want to receive your deposit back, you will need to let the seller know within the “cooling period.”

Contact a Legitimate Cancellation Company

Many people who currently own timeshares believe that their timeshare has some type of value because they spent thousands of dollars on the timeshare. Once you realize that your timeshare has no kind of tangible benefit, you will want to sell it. Unfortunately, there are a lot of companies that claim they can take care of selling your timeshare on your behalf, but they cannot.

When you encounter these types of predatory companies, they will most likely claim that they either have someone waiting to purchase your timeshare. They also may claim that they can sell or rent your timeshare on your behalf. These companies use their tactics of telling you what you want to hear, so you agree to “selling” your timeshare to them.

Your Timeshare Cancellation Responsibility

Even if you sell your timeshare to the highest bidder, you still are held responsible for payment to the timeshare cancellation company if the buyer stops making their payments. It is essential to review your contract before you sign anything because these companies structure their contracts to make you responsible for any missed payments.

They will list that the original owner can transfer the timeshare with a quitclaim deed. The problem with the quitclaim deed is that only the title of the timeshare is transferred to a new owner, not the payments associated with the timeshare. So if you decide to use a timeshare termination company, make sure that the new buyer keeps up their end of the bargain, or else you will be stuck with paying the monthly timeshare payments.

How to Get Rid of Your Timeshare

Selling your timeshare online or to a company that guarantees that they will take care of your timeshare is not the way to go if you are trying to get rid of your timeshare. You will have to legally cancel the contract to be free of your timeshare obligations finally.

This means that you will have to negotiate with the timeshare company and convince them to release you of your contract. Reputable timeshare cancellation companies will help you with this by holding these timeshare companies accountable for the misdeeds their salespeople conduct.

These fantastic companies will also point out any FDCPA violations or FTC violations conducted by the sales representatives associated with your timeshare company. A reputable company that has a track record of successfully releasing clients of their timeshare is the Sapphire Timeshare Cancellation company.

Timeshare Cancellation Process

Once you choose your legitimate company, they will request that you sign a limited power of attorney. This power of attorney will give the company the authorization they need to speak timeshare for you.

A reputable company will make sure to keep in contact with you throughout the entire six to nine-month process. Make sure that you stay away from any establishment that promises that they will transfer your timeshare to another party or that they will donate the timeshare in your name.

Timeshare Company Game Plans

Most timeshare companies know that you will eventually want to cancel the timeshare once you realize how invaluable it is to have. Timeshare companies know that companies like Sapphire Cancellation are a quick online search away, so they know that most customers will figure out a way to cancel out their policies.

To get around this fact, many timeshares will manipulate you into opening up a new credit card to fund your down payment for your timeshare account. Once you open that credit card, the timeshare company knows that they will receive their money almost immediately. The awful part about those credits cards is that no matter how great your credit is, you will still most likely end up with a card with high interest.

Cancellation Company Fees

It is not unnatural for cancellation companies to charge you a fee for their services. Even the highest-rated and legitimate cancellation companies charge fees to take care of canceling your timeshare on your behalf.

When you decide who you want to help cancel your contract, make sure you compare different prices. Sapphire Cancellation is one of the top-rated cancellation companies that offer reasonable fees to their clients.

Timeshare Contract Cancellation Company

Now that you know how invaluable your timeshare contract is, it is time to start the cancellation process. Negotiating with a timeshare company on your own is no easy feat. This company already deployed awful tactics that got you to sign the contract in the first place, so canceling the contract is not as easy as giving them a quick call.

If you call them and try to cancel the timeshare on your own, they will most likely deploy those same tactics to make you stay. If you need help getting out of your contract, contact us now. We here at the Sapphire Timeshare Cancellation company know how to cancel out your contract successfully, and we will keep you up to date throughout the entire process.

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