Timeshares are a great way for families to spend time together and commit to taking vacations every year. However, no matter how much fun they are, for many timeshare owners there comes a time when the cost of owning one of these properties outweighs the delight and attention turns to how to get out of timeshare ownership and relieve yourself of the unexpected and often expensive costs associated with these properties.
It is extremely common for timeshare owners to eventually either no longer want to use their property or to no longer be able to warrant paying rising maintenance fees, special assessments, and continuously more expensive travel costs. The only way to get out of timeshare ownership is to sell your timeshare, and there are a couple ways you can go about doing so.
Do it On Your Own
Many timeshare owners choose to sell their timeshare on their own. This has worked for a lot of people, but unfortunately it takes a lot of time and skill to successfully sell your timeshare on your own. It can take months to find a buyer, and once you do it can take even longer to communicate with your developer, navigate the red tape, and transfer the title.
Donate to Charity
While it isn’t exactly selling your timeshare, donating your property to charity is one way to get out of timeshare ownership. However, much like trying to get rid of your timeshare on your own, finding a charity that can take (or is willing to take) your timeshare can take a while and you face many of the same challenges when donating as you would trying to sell on your own since it can be extremely complicated without professional assistance.
Give Back Your Timeshare
Much like donating, giving your timeshare back to your developer is another way to get rid of your timeshare without selling it. It can be much faster than trying to sell your timeshare, but it is important to note that not all developers will take a timeshare back and those who do won’t make it easy.
Use a Timeshare Resale Company
The most popular and easiest way to get out of timeshare ownership is to use a timeshare resale company. These seasoned professionals know exactly what has to be done in order to absolve you of your ownership and can navigate the confusing and complicated secondary market much faster than someone without such experience could. They have built relationships with developers and often have connections to buyers and title companies that allow them to speed the timeshare sales process up considerably, and you often have to do very little.
However, timeshare resale scams are extremely common so it is in the best interest of you and your money to be very skeptical of any timeshare company before you begin working with them. Take the time to do some research and question the company about their practices and how they can help you get out of timeshare ownership. Reputable companies will happily answer any questions you have and won’t charge ridiculous upfront fees for their services (if they charge any at all).
No matter how you get of timeshare ownership, you have the options to make the best choice for you and your family and there are professionals out there who can help you along every step of the way.