There are many people claiming to be an authority on timeshare and leaving timeshare contracts. Many of these people have their own agendas and this can lead to conflicting and often times confusing answers to the questions you have. Here at the Timeshare Advice Service, we can truly offer you the best advice and answers to your questions on timeshare. We are an independent company with no stakes in your timeshare other than ensuring that you get the best service from us possible.
Here we have answers to some of the most common questions asked about getting out of timeshare.
1. How can I terminate my timeshare contract?
Terminating timeshare contracts has been made very difficult by the resorts and companies who sell them. These companies make a huge amount of money not only from the initial sale price of the contract but also from the huge maintenance fees they charge per year. It has therefore been in their best interests to stop you, the consumer, from terminating your contract.
However, with recent changes in timeshare law it is now possible to get out of timeshares much more easily than it was in the past. Here at the Timeshare Advice Service, we have built a team of industry experts in order to provide you with effective and realistic advice on a case-by-case basis, ensuring that you are able to legally and permanently terminate your timeshare contract.
2. What does terminating a timeshare contract cost?
The cost of terminating a timeshare contract can vary based on how much work needs to be done. It is dependent on a number of factors, such as the type of contract, which resort or company your contract is with, and what type of property you have. We will quote to you how much the cost of terminating your timeshare contract will be as soon as we take on your case.
3. Can I sell my timeshare?
Contrary to what many people have been told by timeshare salesmen, timeshares are not an investment and are inherently worthless. In addition to this, the fact that timeshare has such a bad reputation for scams, poor value for money and a host of other problems, means that it is unlikely that you will be able to sell your timeshare for anywhere near the price you bought it for, if at all.
Many companies claim to be able to re-sell your timeshare, however they will always charge an upfront fee as they know they will most likely not be able to sell it. They make the majority of their money from listing fees instead.
4. What is my timeshare worth?
As mentioned above, timeshares do not have any inherent market value. The only value in a timeshare is usually to your resort, as your timeshare includes your obligations to continue to pay their maintenance fees. These fees rarely have anything to do with the maintenance of the resort and instead are a way for the resort to continue to make money from timeshare owners.
5. Can we be compensated?
Increasingly, timeshare owners are being compensated for mis-selling. Many salesmen use unscrupulous, dishonest and many times illegal practices in order to pressure potential owners into buying a timeshare contract. In addition, there have been scandals regarding the financing of timeshares which many owners may be able to claim compensation for.