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Owning a timeshare is becoming unattractive.
There are thousands of timeshare owners who purchased such property, and they realized they needed to get rid of it because they really don’t need it or because it is not what they were expecting.
Learn the 7 steps to successfully rescind a timeshare.
Most people who attend a timeshare presentation end up signing a timeshare contract, and this happens because timeshare salespeople ask you to sign right away using hardcore sales tactics, and people don’t even know what they are getting into.
That’s why these people want to rescind their timeshares.
Reasons to Rescind a Timeshare
There are a lot of reasons why timeshare owners want to rescind their timeshare purchase.
- You purchased the timeshare under hard-core sales practices. Besides, most of the verbal promises timeshare salespeople made are not written in the contract.
- Timeshare maintenance fees are, most of the time, extremely high, and they increase every year.
- Timeshare owners realize that owning a timeshare is not a financial investment.
- The timeshare contract does not state clearly how to terminate the ownership of the timeshare.
- People have to make reservations a year earlier to be able to use the timeshare, and some people are never able to use it.
- Timeshare owners realize that they can travel for a cheaper rate on their own.
7 Steps to Successfully Rescind a Timeshare
- Step 1: Know your contract
You have to read your contract very carefully and check for a clause about a rescission period. A Timeshare salesperson won’t tell you about that clause, but everything you need to know is in your timeshare contract.
- Step 2: Write a cancellation letter
Once you read your contract within your rescission period, the first thing you have to do is write a letter requesting the cancellation of your timeshare agreement.
You have to include your name, address, contract number and the date of purchase in the cancellation letter.
- Step 3: Send your Rescinding letter
You must send your rescission letter (via certified mail) within the rescission period stipulated in your timeshare contract.
Sending a certified letter gives you the safety that they will receive it and respond. It is important to keep a copy of your letter.
- Step 4: Make a call to the Timeshare Company
Once you send your timeshare cancellation letter, follow it up with a phone call to the timeshare company.
It is important not to be aggressive, just state the reasons why you need to cancel your timeshare contract.
- Step 5: Don’t take advice from timeshare resale companies
Most timeshare resorts work with timeshare resale companies, and they will tell you they can sell your timeshare, making unrealistic expectations and trying to get money upfront to sell your timeshare property.
Be careful if a company calls you, claiming they have a buyer for your timeshare property. If they ask you for fees in advance, it's probably a scam. That’s the way they operate; they ask you for an upfront payment, and they will discover that the buyer never existed.
- Step 6: Follow up
If you haven’t heard from the company in a period of 30 days, inquire about it. Make phone calls or email the company, insisting on your situation.
- Step 7: Contact a lawyer
If you haven’t been able to rescind your timeshare or haven’t heard back from the timeshare company, it's time to get professional help. A timeshare lawyer can help you get out of the timeshare contract.
Outside the Rescission Period
Send a certified cancellation letter to the timeshare company and stipulate the reasons why you want to get out of the timeshare agreement.
Sometimes timeshare companies agree to cancel your timeshare contract only if you pay a penalty, but in most cases they don’t.
The best thing you can do if your rescission period has expired is to look for a timeshare attorney.
Take Action!
If you are stuck with a timeshare you no longer want or cannot afford, and you have already tried to rescind the timeshare, but you have received no answer from the timeshare company, contact Mexican Timeshare Solutions.
We can help you cancel your timeshare, and you won’t have any more strings attached to the timeshare company.
At Mexican Timeshare Solutions, our goal is to assist timeshare purchasers who have been taken advantage of by rude salespeople and deceptive sales practices.
Contact us today for a free consultation and get ready to finally rescind your timeshare agreement.
To receive more information about how to rescind a timeshare, send a WhatsApp message to +52 333 239 6589, fill out the form in the contact section, or call us at +1 714 277 3662.
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Soy de Chile y en nuestras vacaciones en enero de este año en México, Cancún en el Panama Jack compramos una membresía. A la fecha hemos cubierto el monto para acceder a las semanas compradas, pero nos realizarán un cobro por sobre los 2 millones para hacer uso de 2 de estas semanas en uno de sus hoteles. En vista a que esto no reporta ni un beneficio porque en páginas como booking puedo acceder a montos menores en varios hoteles de su misma calidad queremos poner fin al contrato, no queremos seguir teniendo esta membresía. Nuestro país está en una crisis y necesitamos disponer de ese dinero frente a cualquier emergencia.
Compré unas vacaciones de tiempo compartido y ya terminé de pagarlo no lo he utilizado pero no quiero seguir con ellos como puedo cancelarlo para que no me cobren el mantenimiento
Adquirida una membresía en Cancún y desafortunadamente no podemos seguir pagando por problemas económicos. ya hicimos un pago de aprox. $US4.800 de los cuales no hemos hecho uso del mismo por diferentes razones y mentiras recibidas al momento de la venta por parte del vendedor. Cómo puedo cancelar la membresía?
I would like to cancel my timeshare. The cancellation period has expired. I bought it in 1997 for only $3000 and have only 5,000 points per year. They have continued to cut the number and quality of hotels and have cut many locations in general (like Bahamas where I bought it.)
I would like to cancel my timeshare. The cancellation period has expired. I bought it in 1997 for only $3000 and have only 5,000 points per year. They have continued to cut the number and quality of hotels and have cut many locations in general (like Bahamas where I bought it.)
Requiero de su apoyo para cancelar el tiempo compartido de Royal holiday
hola somos una familia del estado de Guanajuato en México en el mes de noviembre del 2021 fuimos a Ixtapa para ceder los derechos de nuestra membresía con Royal Holliday a un sobrino ya que nosotros no podemos seguir pagándola y nos obligaron pagar 12,000 dólares mas para poder hacer este traspaso y una vez que pagamos esta cantidad no hicieron el traspaso y se niegan ahora a contestar nuestras llamadas solo nos engañaron para pagar esta cantidad ya se las pagamos y sigue la membresía a nuestro nombre mi sobrino quien pago los 12 mil dólares no le dieron ningún derecho y ahora seguimos pagando mas de cuota de manteamiento (2280 dólares) mas 12 mil dólares que le cobraron a mi sobrino son unos estafadores, cabe destacar que soy una señora inmunodeprimida y mi salud a empeorado por esta situación no encontramos la salida si alguien sabe como ayudarnos por favor.
Buenas tardes hace un mes adquirí junto con mi hija un tiempo compartido, jamás había escuchado sobre eso y la vendedora nos engañó haciéndonos creer que estábamos comprando una propiedad, la cual podíamos utilizar y rentar cuando la necesitáramos y así con las rentas íbamos a obtener los pagos de las mensualidades, inclusive nos enseñó la villa de la cual íbamos a ser dueñas pero ya en casa leyendo el contrato nos dimos cuenta que no hemos comprado nada solo hemos obtenido una semana por año por un costo mensual de $434, esto fue en Orlando Florida y prácticamente firmamos el contrato bajo presión por la vendedora según ella se agotaba el tiempo. Y ahora quiero cancelar eso porque veo que es regalar el dinero a cambio de nada
tengo una membresía pagada en su totalidad y quiero cancelar ese contrato no quiero devolución de nada solo cancelar ya no quiero seguir pagando cuotas de mantenimiento. y cuanto me cobra por sus servicios
Deseo cancelarme membresia de royal holidy
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