Timeshare cancellation is one of the options that owners are looking to get out of a vacation ownership commitment. There are a lot of companies looking for owners who want to get rid of their timeshares. These companies usually charge a steep fee upfront and claim to transfer timeshare titles to another party. These companies generally work by setting up a shell company.
After the upfront fee is paid, the company then transfers the title of the timeshare to the shell company. But if they cannot hold up their end of the bargain and the resort developer forecloses on the property, the credit will still be on the line. Owners trying to get out of their ownership are advised not to seek help from timeshare cancellation companies since they are not a safe option.
The American Resort and Development Association (ARDA) often warns timeshare owners to beware of companies that promise to cancel timeshare contracts.
How to Exit Timeshares Responsibly
Since timeshare cancellation is not a safe timeshare exit strategy, the best way to exit a timeshare commitment is to put it up on a reputed online marketplace. Some companies charge high fees for advertising services that do not sell timeshares. Researching companies before committing to them is of utmost importance.
Look for a company that makes use of an innovative marketing platform to ensure that they can attract various buyers for the property. Make sure that the chosen company is an expert in timeshare resales. This industry is quite complex to navigate and takes an experienced resale company to know the timeshare resale market inside and out and what is necessary.
The resale company should also be able to refer the customer to a trusted timeshare resale broker. Experienced, licensed real estate agents that can help guide the customer through the closing process of the timeshare is an added benefit to the seller. Resale agents can help get reasonable closing costs, draft contracts and refer the person to a reputed title company who can hold funds and perform the title transfer.
How Timeshare Resale Companies Can Help Post Timeshare
First and foremost, make sure that the company is an ARDA corporate member, recognized for its excellence in timeshare resales and advertising.
They should be a trusted reseller with a reputation for embracing innovation and provide the best service for prospective sellers who want to advertise their vacation ownership properties. Good timeshare companies offer buyers and renters a functional website with an exceptional user experience.
Timeshare owners can breathe easy, knowing that their ad is exposed to thousands of prospective timeshare buyers every day. The resale company should have many resort developers recommending and trusting it. They should also have relationships within the industry, including with our affiliated timeshare resale brokerage, Fidelity Resales.