Timeshare Release Now

For some people, like retirees Don and Irene, timeshares are the perfect vacation solution.

They enjoyed being able to plan for their vacation on the same week every year, and they liked the predictability of knowing exactly what to expect at their resort.

However, owning a vacation timeshare can become an unpredictable and frustrating exercise. Here are the three important things to remember to make sure you are getting the most out of your resort purchase.

1. Be a smart consumer from the beginning.

If the person who is working to sell you a timeshare is working on commission, he or she will do everything in his or her power to entice, bully, guilt or manipulate you into signing on to the deal that is the best for their paycheck – not necessarily what is best for your needs or budget.

For example, when Don and Irene bought a timeshare ownership it was for a week of time at the resort. When the resort was sold to a new managing company, their week of time shifted from seven days to a fixed number of points. And while you can’t make a week shorter than seven days, fixed timeshare points can lose value. Like Don and Irene, you may find yourself pumping more and more money into your vacation account for the exact same vacation.

If you are in the market for a timeshare, here’s my money-saving tip: go to the resale market. Make sure you are dealing with a licensed real estate broker. You can go to Licensed Timeshare Brokers to find one. And, as with any real estate transaction, be clear about what you want and stay strong. Walk away from any “deal” that doesn’t offer the flexibility, location, or financial structure that you are looking for.

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2. Once you’ve bought, you’re in for life.

As a property owner – even if it’s a property you only visit once a year – you need to stay on top of your rights. A great resource is  National Timeshare Owners Association(NOTA).

There is also the ARDA Resort Owners’ Coalition, a non-profit program sponsored by the American Resort Development Association, and dedicated to “preserving, protecting and enhancing vacation ownership.” Critics have argued, however,  that the ARDA looks out for the RESORT owner’s interests and not as much those individuals who have purchased timeshares. Their website is still worth a look though, as it does contain some good tips and information.

3. A timeshare isn’t an investment property.

In fact, if you are looking to sell your timeshare, be prepared to take a loss on your investment. While the resale market is a smart place to go if you are a buyer, selling your vacation timeshare can pose a real challenge. ARDA has an excellent section on frequently asked questions and consumer advisories on the resale market. If you have decided it’s time to let go of your timeshare, make sure all of your paperwork is in order, including the legal documents from your original purchase (your resort manager can provide these.) Follow ARDA’s “Timeshare Seller’s Checklist” to make sure you have everything in order.

Timeshare Cancellation
Timeshares in Florida

If your resort developer, management company, or homeowners association is not able to help you in the resale process, you can go one of two ways: hire a licensed broker who specializes in timeshare resales (see the link above) or market the property yourself.

If hiring a licensed broker:

–Shop around and compare services and prices before giving the commission to an agent.

–Do some research on the company you plan to do business with. Call the Better Business Bureau in the state where the company is located.

–Do NOT give your credit card or wire money until you have a written contract. And always read that contract carefully.

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If marketing the property yourself:

–Research the asking prices for similar kinds of properties, and then research the prices paid for recent sales at your resort.  Chances are the asking prices will be higher than the sale prices. You want to be sure to price your property attractively in order to increase inquiries and the chance of selling your timeshare.

–Advertise widely. Place ads in the real estate or travel sections of newspapers; advertise on websites like eBay or Craigslist; check and compare prices for online advertising sites for timeshares such as redweek.com.

–Remember, if you sell your timeshare yourself, you are responsible for the whole process, including transferring documents, titles, etc.

If you are truly done with your timeshare, but can’t sell it, there are a few final options. You can pass it on to your family. Transfer of ownership rules (which vary from state to state) should allow you to give your timeshare to a family member. You can donate your timeshare to charity. There will likely be fees involved and you should check with your tax advisor before making a charitable donation. You can retain ownership and rent your timeshare; some resorts have rental programs or policies, or you can advertise the rental on an owner site.

Timeshares can be a fantastic way to ensure that you enjoy your vacation year after year. But like any major purchase, you’ll be happier if you do your research up front, hold out for the exact type of resort you want, and have an exit plan if you find that the timeshare lifestyle no longer works for you or your family.

Robert Massi joined Fox News Channel (FNC) in 1996 and currently serves as a legal analyst as well as host of Bob Massi is the Property Man, part of FBN’s Friday lineup (Fridays, 8:30 p.m. ET / 5:30 p.m. PT with an encore at 12:30 a.m. ET / 9:30 p.m. PT). The program highlights the various facets of the housing industry and features experts who break down current property trends and pricing deals. Massi appears weekly on Fox & Friends for his segments “Rebuilding Dreams” and “Legal Ease” along with appearing at other times on Fox News Channel and Fox Business Network (FBN) for real estate and legal segments.

Call Toll-Free (844)-215-2744

 

5 Reasons to say no to a Timeshare

Why Timeshares are an Objectively Worse Investment Than Just Purchasing a Condo

Many people dream of having their own vacation/investment property, but very few actually take the steps necessary to turn that dream into a reality. Even worse, some are roped into the idea that a timeshare is a smart investment; in reality, for those who desire a vacation and/or investment property of their own, the smarter decision is to purchase a condo outright rather than fall into the timeshare pit. By having a better understanding of the many benefits of outright ownership over timeshare investing, it’s possible to make the right decision.

Avoid Timeshare Maintenance Fees

For starters, consider the fact that timeshares almost always come with annual “maintenance fees,” and timeshare investors are responsible for paying these fees regardless of whether they used the timeshare during that year or not. Furthermore, these fees can be increased at just about any time and without much in the way of an explanation. By owning an investment or vacation property outright, investors never need to worry about these frivolous fees and can better spend their money elsewhere.

Sell For a Profit Later On

Selling one’s portion of a timeshare can be very challenging, and actually making a profit off the sale of a timeshare can be even moreso. Furthermore, when a timeshare is sold at a loss, the IRS doesn’t even allow sellers to claim the sale as a capital loss, which can be yet another punch in the gut. By owning a property outright, it’s much easier to sell down the road and to do so at a profit. And of course, on the chance that a profit isn’t made, at least sellers are able to claim capital losses on their taxes to lessen the blow.

Use it Whenever You Want

Timeshares often require a great deal of planning and logistical hurdles when it comes to scheduling dates to actually use the property, which partially defeats the entire purpose of the investment. By owning a property outright, there is never any need to “schedule” time in the property or get approval from anyone else. And of course, during periods when the property isn’t going to be in use, investors can easily rent it out to offset the costs or even make a profit on the property.

Make Changes To It

Renovating and upgrading a timeshare can be challenging, if not impossible. That’s because doing so usually requires written approval from all the members of the timeshare, as well as agreement of everyone to pitch in on the shared investment. This can be a huge headache. With a condo that’s owned outright, the only approval needed for upgrades or renovations will typically come from the HOA or similar association. This makes it much easier to make any desired changes and to reap the benefits of those upgrades in added resale value.

For those considering a timeshare as a means of finally securing that vacation and/or investment property, it would be wise to instead consider purchasing an investment condo outright. In both the short- and long-term, this tends to be the more sound investment decision for investors and vacationers alike. Consider Cancelling a Timeshare, Learn How to Cancel a Timeshare.

Need assistance with your Timeshare Cancellation Contact us Toll-Free (844)-215-2744

how it works Timeshare cancellation process

If you own a Timeshare, the chances are good that you have become disillusioned with your purchase and are wondering how to get out of it. After researching your options, you go to google and type in, “How to cancel a Timeshare”, and Timeshare Release Now pops up under the 1st page of Google.com. After researching this option at working with this group, looking at everything from a testimonial with phone numbers attached to them, their Better Business Bureau account profile to Timeshare Resale Companies to Timeshare Exit Companies. The cost to enter into these programs may feel overwhelming and unsure of where to start, who to trust. Figuring out how to get rid of a Timeshare is a complicated process, and it is normal to feel a bit lost. Read on for some Timeshare Release Now tips from the experts and ways to help you decide the best way to get out of your Timeshare.

how it works Timeshare cancellation process
How to cancel a Timeshare under 6 weeks?

Buying a Timeshare is a simple process. Really too simple when you think about the long-term implications a spur of the moment impulse buy has for you and significant other. When you bought your Timeshare, you most likely did so in a moment of Vacation Bliss. You were relaxed and didn’t see it coming to you. The allure of a FREE dinner and a $100 dollar visa gift card was too much, so you agreed to go to a Timeshare Tour Presentation. The Tour Presentation sold you a Timeshare, hook line and sinker for something you didn’t want or need. With most likely saying, “no” numerous times to the sales representatives don’t do anything but basically tells them to keep going. When you say, “NO”, it means, “YES” to the Timeshare employees.

At first, you thought you would use your Timeshare and vacation with family bringing everyone together. You fully bought into the fantasy they laid out for us. You fell for the figures they sjhpwed you about the hotel costs and inflation and you were convinced that your Timeshare would save you thousands over the course of its life. And it not, you could always sell it, most likely even for a profit.

Timeshare Cancellation Letter Templates
Sample timeshare cancellation letters

However, once you got home and lived with your Timeshare for a while, you have realized it is not what it was advertised to be. Between high interest rates and inflating annual maintenance fees, you are paying more than you ever imagined and may even be having trouble making ends meet each month due to your high Timeshare mortgage payment.

You may have even found that you can’t actually afford to go on vacation because of your Timeshare payments. Sure, your hotel is paid for, but there are many other costs associated with going on vacation like airfare, gas, food, and entertainment. Just because your hotel is paid for does not mean that your vacation is paid for. With your high Timeshare payments, you cant afford all the other parts of vacationing. And since you make payments monthly, its not like shopping for hotel deals will help you save money at ell. You need to know how to get rid of a Timeshare.

In general, a timeshare cancellation is the best way to get out of a Timeshare. When you do a timeshare cancellation, you make your contract null & void as if it did not even happen. You don’t owe the timeshare company extra money to account for the negative equity your timeshare has accumulated over the time you have owned it. You walk away from your Timeshare Contract free and clear.

If you are experiencing similar problems with your Timeshare Resort, give us a call and we can discuss the many options we have available to get out of your Timeshare Contract and debt associated with contract immediately. We have the answers to your questions and the TRUTH you deserve.  For more information About Timeshare Cancellation by talking to our  Timeshare Release Now Advocacy Team or log onto the website. Visit us at: www.TimeshareReleaseNOW.com

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“We will STOP Timeshare Fraud – One consumer at a time”! Message from the Owner

 

Timeshare Release Now vs other Timeshare Exit Companies

Owning a timeshare can end up being a huge regret. If you purchased a timeshare that you don’t want anymore, you need to know how to get rid of a timeshare. Between maintenance fees and high monthly payments, you can’t afford to keep your timeshare. Read on to learn the benefits of timeshare cancellation and figure out how to get rid of a timeshare, for good!

You came back from vacation this year with some cheap trinkets for the kids, a sunburn, and a timeshare. While a sunburn can be painful, the worst souvenir you brought with you was a timeshare. You never thought that you would fall for a timeshare scam, but here you are, making a monthly payment of a few hundred dollars plus an annual maintenance fee that can be upwards of a thousand bucks.

What do you get for your money? In many cases a whole lot of nothing. Between booking premiums and inflexible “flex” points, you may find that you can’t go on any vacation that peaks your interest. So you settle. Until you don’t want to settle anymore and then you start researching how to get rid of a timeshare.

One option is to try to sell your timeshare. During the presentation, the timeshare salesman convinced you that this would be easy. In fact, you may even make a little extra cash by selling your timeshare. I am sorry to be the one to break it to you, but neither of these are true. Selling a timeshare is difficult. The retail market for used timeshares is almost non-existent, and even if you can find a buyer, your timeshare is most likely worth only a fraction of what you paid for it.

Of course, there are some cases when selling is the answer to how to get rid of a timeshare. Timeshares that are at in-demand resorts who sell limited quantities can sell for a significant chunk of money. In fact, recently a timeshare at a resort in Maui sold for $150,000. But, this is a luxury resort in Maui, not a second rate timeshare from a hotel in Scottsdale or somewhere in Florida.

Most timeshares end up being sold for a fraction of what was paid for them. The average price for a second-hand timeshare sale is $7,000. So, if you bought your timeshare for around $30,000 (the average price), you are losing over twenty thousand dollars. As you can see, selling a timeshare may not be the best option for you.

Another way to get rid of a timeshare is to gift it to a friend or family member. If you know someone who wants a timeshare, this can be a great idea. They take over your monthly payments, and you don’t lose any more money. The downside here is that it can hard to even give a timeshare away.

Whoever you gift it to has to actually want a timeshare and be able to take over monthly payments and the yearly maintenance fee. All in all, a timeshare is a very expensive gift that not many people want. In fact, according to the AARP, the majority of people surveyed would reject a timeshare gift.

So, you sure as heck can’t sell your timeshare and now you can’t even give it away. You may feel the situation is hopeless and you won’t be able to figure out how to get rid of a timeshare.

It is not hopeless. With the help of our timeshare exit team, you can do a timeshare cancellation. This will get you out of your timeshare without any additional timeshare exit cost. You will be able to legally stop making your timeshare payments without having to find someone to take them over for you. With a timeshare cancellation, you walk away from your timeshare, free and clear.

Our timeshare exit team cost is reasonable, and we can get rid of your timeshare. We review your contract and then get to work. Once you enlist our help, you don’t have to talk to the timeshare company anymore, we do it all for you.

We create a resort authorized cancellation letter that is guaranteed to get rid of your timeshare. If we can’t cancel your timeshare for any reason, you get your money back. We are not at timeshare resale scam, and we do not work for the resort industry, we work for you.

Here at Timeshare Cancel Center, we are the real deal, and we can get you a timeshare cancellation. Call us today to learn more and to get a free timeshare exit team review of your timeshare contract.

To Receive More Information About “How to cancel a Timeshare

Executing a Timeshare Exit and need it done by the professionals call or Visit Our Website:

www.TimeshareReleaseNOW.com

For A Free Timeshare Release Now Team Consultancy Conducted By A Certified Timeshare Cancellation Specialist Call 24/7: 1-844-215-2744

Timeshare Fraud Prevention from Timeshare Exit Companies

Regular readers of our blog are probably familiar with ARDA, or the American Resort Developers Association, the political voice and lobbying arm of the timeshare industry.

Earlier this spring, ARDA held its regular ARDA World conference, the largest gathering of timeshare developers in the world. Jeff Weir, timeshare expert and chief correspondent for RedWeek, was able to attend this enormous soiree in person, as he recently detailed in an “Ask RedWeek” column.

We think it’s important to highlight some of the findings that Weir took away from this massive networking and educational event. In particular, we found our attention piqued by Weir’s account of one educational panel, dubbed “The Effects of Buyer Regret on Rescission: Recognizing, Revealing and Rectifying Regret,” which was led by Dr. Amy Gregory, an assistant professor at the University of Central Florida Rosen College of Hospitality Management, whose research focuses on “Vacation Ownership, Revenue Management, and Conjoint Analysis,” according to her website, Timeshare Education.

Dr. Gregory’s findings are staggering. Let’s look at some of the ones that Weir highlights:

  • The average rescission rate is 15% – essentially identical to the daily average percentage of people who buy a timeshare following a sales presentation
  • 85% of all buyers regret their purchase, citing reasons including money, fear, confusion, intimidation, and distrust
  • 41% of buyers never thought they would regret their purchase, but ended up doing so; 30% were neutral prior to buying, but came to regret their decision
  • 95% of all buyers go back to their resort and sales team for more information after the sale, usually within one to three days, seeking more information about maintenance fees, resale options, and pricing alternatives

In an interview with Weir after her presentation, Dr. Gregory also expanded on some important “regret-and-remorse” factors that drive timeshare buyers toward rescission. First, she cites the “price tag” as a big factor that inspires remorse, which is particularly telling when you consider that, according to research presented at this year’s ARDA World, the average price of a new timeshare is $20,040. Dr. Gregory also suggests that “intervening factors” play a huge role in persuading customers to cancel a purchase; in the case of timeshares, these factors include “negative feedback from a friend, finding conflicting information about timeshares on the Internet, frustration navigating company websites, or mixed messages from other sales personnel.”

Broadly speaking, Dr. Gregory’s findings provide concrete examples for what those of us who work with the timeshare industry have long known. Her information, for instance, reaffirms our belief that timeshare sales presentations, while effective at securing a closing, do not provide all of the information that a consumer really needs to make a confident, educated purchasing decision. Her research, too, singles out many of the same factors that our clients have come to us complaining about, including daunting maintenance fees and the anemic nature of the secondary market.

And, finally, Dr. Gregory’s report confirms our belief that the industry’s culture of unfriendly consumer practices will ultimately only result in the timeshare business “eating its young.” As Weir points out, getting a handle on “regret-and-remorse” could greatly benefit the developers themselves, who are losing value with each cancelled sale; as he notes, “if the industry reaches $10 billion in annual sales, that means an additional $1.5 billion in sales were cancelled.”

And don’t forget the consumer! Adopting a more open, forthright, and affordable approach to every aspect of the timeshare purchasing process will benefit buyers as well. As Dr. Gregory tells Weir, “from a buyer’s perspective, it will be a positive outcome if we can alleviate some of their regret at time of purchase.”

For more fascinating findings from the ARDA World event, we encourage you to read Mr. Weir’s full article for RedWeek here.

Have any questions or concerns? Led by Advocate Dustin Michaels and associates with 25 years of experience, Timeshare Release Now is a consumer protection firm specializing in timeshare contract relief and Timeshare Counseling. Our lawyers & Advocacy Team understand vacation ownerships as well as the many pitfalls of the secondary market of timeshare resales. If you feel you have been victimized by a timeshare company, contact our offices for a free consultation. Know your rights as a consumer and don’t hesitate to drop us a line with any questions or concerns.


No attorney-client relationship. Timeshare Release Now maintains this website exclusively for informational purposes. It is not legal or other professional advice and does not necessarily represent the opinion of Timeshare Release Now or its clients. Viewing this site, using information from it, or communicating with Timeshare Release Now through this site by email does not create an attorney-client relationship between you and Timeshare Release Now, LLC.

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