Getting Out Of A Timeshare: A Comprehensive and Precautionary Guide

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Introduction

If you’ve attempted to get out of your timeshare, you probably already know that it can definitely be a frustrating, and often difficult, process. But, regardless of the challenges of the undertaking, positive results still happen for many every day. With the proper steps and know-how, getting out of your timeshare can be a reality for you as well!

There are numerous factors that one has to consider to protect themselves from a personal, legal, and financial standpoint and to get out successfully. Much of which is really necessary to know, yet are important aspects often overlooked in the complicated and multi-faceted timeshare resale marketplace. Especially today, when timeshare consumers are faced with the compounding problems of the market saturation, plummeted prices, and illegitimate scams and gimmicks that further plaque and complicate the selling and transferring processes.

Until now, you may have discovered, there really hasn’t been a comprehensive and unbiased resource that has thoroughly addressed the many challenging issues of getting out of timeshare and how to protect oneself. You could spend hours on end trying to weed through and piece together information on the web about the many facets of advertising, listing, selling and transferring title of a timeshare. One would hope to find insight, simplified solutions, and possibly a few tricks of the trade. Instead, all too often finding biased, limited, and conflicting information that could lead them down the wrong path. In some cases, material posted on the web widely accepted as fact, yet grossly misguiding timeshare users and owners. Or, possibly resulting in them finding out the hard way that what applies for one timeshare company doesn’t always apply for another. And let’s not forget, the all-too-often realization that a hopeful information source is really just another company trying to list your timeshare for sale.

However, Getting Out of Timeshare is finally here to provide a one-stop, unbiased source of information on many pertinent and critical timeshare resale topics. As a comprehensive and precautionary guide, it delivers in-depth coverage on crucial factors that many timeshare consumers didn’t know. You’ll find what to expect, how to get out of your timeshare properly, and especially what to avoid and watch out for. For proper awareness, financial and legal protection, and prudent decision making, you’ll really appreciate this guide!

One of the main compelling reasons to write this book came about after speaking with countless timeshare owners over the years attempting to get out of their timeshare. It was quite alarming to discover just how many timeshare owners had been burned on some level or another when attempting to list or sell their timeshare properties; unknowingly dealing with con artists and becoming victims of hoaxes. They often had lost thousands of dollars, while also losing trust and hope. Learning of these disturbing and unfortunate occurrences, and realizing that there was a total lack of awareness and education, helped me to realize the need for this insight and forewarning to others. Wanting to help unsuspecting individuals, merely seeking legitimate help, to not be easy prey for the unscrupulous offenders. You really can’t afford to not read this.

As The Timeshare Consultant™, to maintain an unbiased and objective approach, it’s important for me to also address various sides of timeshare ownership opinions, responsibilities, factors and realities. In other words, I not only provide factual information, guidelines, and caveats, but also help to examine somewhat the specific factors, aligning roles, and impact of other parties involved. Dealing with some of the same considerations and challenges that may have led to the notion of you wanting out of your timeshare to begin with. It’s highly possible that a greater overall perspective and sense of both positive and negative realities can help to influence one’s attitude about getting out of their timeshare.

Essentially, what you get out of this guide is dependent on where you are in the process of pursuing getting out of your timeshare and whether you’re looking to find a way out on your own or find the right professionals to help. I’ll help to guide you in your options and apprise you of the pitfalls. Plus, give you plenty of suggestions on how to increase the odds of selling your timeshare and what to consider in the sales process, documentation, closing and final transfer steps.

Perhaps you’re one who may not know where to start with your intent to unload your timeshare and have no clue about the process or looming challenges. Or, maybe you’ve already gone a certain route and now have a fear of doing business with anyone in the timeshare resale marketplace from already being taken. There is unquestionably a large amount of anxiety and uncertainty in the timeshare industry about what course of action to take. Leaving many timeshare owners feeling trapped and discouraged. But, reassuringly, whether you read the full chapters of this book to gain overall insight, or skip directly to specific chapters and checklists, I’m confident that you’ll receive valuable guidance where you need it. Even if you’re well aware of options, this resource may very well provide a new awareness of developer stipulations and caveats. But, better to find out now then after it’s too late. After all, you don’t know what you don’t know!

The bottom line, and my overall intent, is that whatever insight, tips, precautions, reminders or ideas that you receive from this book, you’ll feel educated and equipped to make the next positive move. Ultimately helping you to receive the satisfaction that you’re looking for regarding getting out of your timeshare.

Chapter 1

EVALUATING MY TIMESHARE

If you’re reading this book, you’re most likely amongst the thousands of timeshare users who have either become frustrated with trying to use their timeshare successfully, are simply not traveling as they once did, or are looking to eliminate the financial commitment. It sounded like a good idea when you bought your timeshare plan, but now you’re just wanting out!

Have you already experienced a lack of success in trying to sell your timeshare? Or have heard some of the many stories and concerns from other timeshare owners attempting to sell theirs? If so, it’s already evidently clear that there’s a high level of discouragement, distrust, and disappointment in the timeshare resale marketplace. What’s the right course of action? How do you avoid getting burned in the process of trying to get out?

Before you jump right to the chapters that you feel are most relevant to you, it would be wise to give some introspective thought to your ownership with the added insight in this first chapter. For example, reminding yourself of the reasons you initially bought your timeshare. This may sound crazy when you’re reading this book on how to get out of timeshare! However, through this analysis exercise you may evaluate your ownership from a different perspective and determine for sure if you’re willing to part with it. Or perhaps you’ll just reaffirm your reasons for wanting out. Either way, this first step may help you come to grips with reality factors that are tied to your timeshare plan and changes in the industry. Some objective viewpoints may go a long way to help in determining what extent you’re prepared to go to in order to actually part with your timeshare.

Timeshare Industry & Personal Perspectives

The Growth & Impact

The timeshare industry has undergone notable changes over recent years, with it’s ongoing demands for more vacation solutions. The industry has evolved and grown with new developers, the creation of new programs, increased flexibility, and the opening of new resorts and vacation options.

Today, the multi-billion dollar timeshare industry still leads the hospitality sector with steady growth, despite economic changes. However, like any industry, there are always the good and bad effects of growth, development and change. And there are some companies who just can’t keep up. The complex timeshare industry in no exception to this evolution and it’s repercussions.

With the success of growth also came new industry challenges, aging resorts, increased costs and peaked frustrations for some timeshare users. This perspective, coupled with the economic woes and related financial hardship, resulted in traveling becoming more of a luxury than a necessity for some. The bottom line for those timeshare owners is that the shine has worn off of their timeshare and they’re wanting to unload their ownership.

Publicity today regarding timeshare ownership is highly centered around the resale segment, with the surge of scams, fraudulent activities, plummeting values, and difficulty in selling. This has, unfortunately, created a negative stigma that can easily tip the scale away from the positives. The controversial suggestion being of whether, what was once treated as an acquisition of a desirable asset, can now be considered more of a liability and hassle.

The Ultimate Problem

Timeshare developers and exchange companies undeniably created a strong appeal for vacationers around the world to get into timeshare. However, as also evidenced by the negative impact on the timeshare resale marketplace, there was never enough consideration given to how one would get out. This has created a drastic oversupply of timeshare weeks for sale in the secondary market with a limited number of interested or prospective buyers.

The lack of developer exit strategies has led to an adverse effect on the timeshare industry in general. Unfortunately, a lot of public attention and definite controversy abounds about the unending commitment of timeshare ownership.

In a quest to maintain sales interest and keep the vacation ownership commitment a desirable concept, you may read or hear developer statements about the possibility of upcoming automatic relinquishment or buy-back programs. Which would be a welcomed solution. However, there is only one company that I’ve heard of, in recent years, actually tying an alleged buy-back option into the sale. Which is said to be part of the incentive for larger purchases or timeshare portfolios with that developer. Although there may be others, buy-backs are not ordinarily advertised. Until more widespread buy-back or relinquishment solutions are formally introduced and implemented, if a reality at all, you may be forced to consider other ways to get out of your timeshare.

What’s My Bottom Line?

It all starts with considering wanting out. The controversial timeshare debates are largely dependent on individual viewpoints and personal experiences. It remains that many timeshare/vacation ownership participants love it, use it, and would never give it up. They understand and accept the cost increases, expected challenges and ever-evolving industry, and are still happy with the overall value. Then, there are those timeshare owners, in the contemplative mode, with a sort of love/hate relationship with their timeshare. They may be only considering the possibility of letting go of their plan and merely exploring their options for now. Yet, for others, it’s much like they say about buying and selling a boat—two of the happiest days of their lives. Although they were excited when they bought it, they can’t wait for the day that they no longer have to pay maintenance fees on their unwanted timeshare.

Where do you stand on how you feel about your timeshare today? Do you still have some positive feeling about originally buying it, or strongly regret the day that you did? Is it possible that any ill feelings that you may have about your timeshare have been spurred by public attention and outside negative opinions that may have swayed your thinking or made you second guess your initial decision to buy?

There’s no question, you have to decide for yourself. But, before declaring your position too quickly, and to help to decide what’s best for you, be sure that you take some time to personally consider all aspects of your ownership. Starting with reflecting on the overall impact that timeshare ownership created in the lives of you and your family in years past. Then, consider what you still hope or expect to get out of your vacation portfolio in the future. Assess the relationship of the cost factors and benefits against what’s perceived as drawbacks. The following section is designed to help you to regain an overall perspective to evaluate, objectively, whether you should be getting out of your timeshare or not!

Considerations of My Initial Timeshare Purchase

Yes, there were definitely positive reasons at the time, or you wouldn’t have ever purchased it. Everyone had a different reason for originally deciding to buy and why the timeshare/vacation ownership concept made sense to them. Do you remember your main reasons for originally buying yours? If nothing else, this will serve to help you to reassure yourself that you weren’t crazy at the time of buying your timeshare.

The Emotional Sensibility

Do you remember, while on vacation, reaffirming how important that time was with your spouse and family? With this proposed idea of enacting a plan that would not only encourage you to go, but more or less force you to take your well deserved time off.

Maybe you had planned to return to your favorite vacation spot or intended to use the option to trade resorts and travel to other popular vacation spots every year. It just seemed nice to have travel options. And most likely, you felt very sold on the idea of being able to one day follow through with the many vacation dreams you’d developed over the years.

Deciding to buy, with a justification of leaving behind the day-to-day stress and responsibilities of home and the workplace! Enjoying the allure of quality down time with those you love, in a relaxed setting, or experiencing a new adventure. With vacations becoming more of a way of life and a practical means to gain exposure to new places and worldliness, cultures and history, the thrill of amusement parks, and the nature experiences of rustic mountains or tropical beach settings. All the while, appreciating vacationing in the home-like comforts of a fully furnished villa and enjoying resort amenities.

You were not alone, and still today, most people purchase their timeshares for these, and many other, emotional reasons. Money didn’t have to be the only strong consideration in all of this. It was also about the things that money couldn’t buy.

The Original Financial Logic

Still the purchase had to make good economic sense, right? Absolutely. And the