High Maintenance Fees and Other Reasons Why Timeshare Owners Want Out of Their Contracts


However, if this hasn’t worked for you, it may be time for you to figure out how to sell timeshare weeks to someone else. The purchase of timeshare weeks may be something that you don’t want to continue, and it’s important to have timeshare exit support so that you know how to sell your time there. With support, you can learn how to rent your timeshare on Craigslist and whether your contract allows for you to put the time up on Airbnb.

The purchase of timeshare weeks doesn’t always go smoothly. You may find that you don’t like the resort where the timeshare is located. You might look for a real estate agent who has a list of timeshares to sell. These agents will understand well how timeshares work and how they must be sold. This can help you to get out from under the maintenance fees that you have been paying for your timeshare. It’s always good to have someone working on the problem so that you can go about your life and still get it sold.

How much are timeshares worth

Around 7% of American households own a timeshare or another type of shared vacation ownership product, according to the “2016 U.S. Shared Vacation Ownership Consolidated Owners Report.” Many people in the United States own timeshares so that they have a regular place to stay when on vacation. Others, however, may purchase them solely for investment purposes.

Throughout the United States, there are 1,547 timeshare resorts, 25% of which are located in the state of Florida. On average, a new timeshare will cost $20,040.00, so it is not surprising that this industry is worth $70 billion.

Initially, purchasing a timeshare may seem like an excellent idea. However, 5% of buyers regret this decision for these and other reasons:

  • Money
  • Fear
  • Confusion
  • Intimidation
  • Distrust

Maintenance fees alone account for the reason that many timeshare owners want to get out of their contract. A 2016 survey found that 66% of timeshare owners indicated that the maintenance fees were “too high.” This was also cited as the “most important” reason for 46% of the timeshare owners wanting to find a way out of their contracts.

When timeshare owners encounter financial hardship, they often want out of their contracts. Ernst and Young conducted a timeshare industry study that showed 56% of reclaimed timeshares were due to foreclosure. Basically, this means that the properties reverted to the timeshare developer for failure to pay

Timeshare fraud is also a significant concern for many individuals. Given the existence of timeshare scams, potential and/or current timeshare owners may feel confused about their individual contracts and feel some level of distrust for their timeshare holder. Furthermore, they may also develop distrust in the industry at large as a result of their personal experience. If intimidation tactics are employed when timeshare owners question their contacts, this may point to illegal business dealings.

Are you interested in learning more about timeshare cancellation? If you want to learn how to get out of a timeshare contract, you can contact an attorney that handles this area of the law. While you meet with an attorney to handle a timeshare cancellation, they will be able to advise you on how to legally get out of timeshare contract.

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