5 Signs It's Time to Cancel Your Timeshare

by Susan Budowski on Jun 14, 2022 Legal 79 Views


The best way to make the most of your timeshare ownership experience depends entirely on the quality of the resort you choose. If you’re having issues with maintenance, management, or other guests at your resort, it may be time to cancel your timeshare contract and find another place to stay in the future. Each year, thousands of timeshare owners struggle with the question of whether to cancel their contract or stay in the timeshare they’ve invested in, whether they planned to or not. If you are unhappy with your timeshare and have considered canceling your contract, these five signs can help you decide if it’s time to cancel your timeshare contract.

High Maintenance Fees

One of the biggest benefits of a timeshare contract is they provide an easy and convenient way for you to vacation on your own schedule. But when it comes time to pay your maintenance fees each year, you may find that keeping up with these costs is more expensive than any vacation you might take. If your maintenance fees are significantly higher than what you're used to paying, or if they seem like they are increasing at an alarming rate, it may be time for timeshare cancellation in Florida.

Your Timeshare is Different from the Pictures

The first sign that you should start looking to extricate yourself from a timeshare agreement is if you feel that you have been sold the property under false pretenses. It's common for buyers to come to the resort only to find that the timeshare they have been sold is not the property described in the brochure. If you don't think the timeshare contract you signed is the right one, you need to contact a timeshare lawyer in Florida as soon as possible.

You Can’t Buy or Rent Timeshare Weeks

Some timeshare owners have tried to rent out their weeks by putting them up for sale, but they might not always find someone willing to purchase the offer. It's worse in the sense that owners try to sell their timeshare on their own and end up realizing that they can't even do that because the timeshare has no resale value whatsoever. Even if you can find someone who will take over, they might back out later, and the original owner is responsible for making payments on their own.

Poor Maintenance & Safety Concerns

Poor maintenance and safety concerns may indicate the timeshare resort is in financial trouble and needs maintenance. If you notice potential code violations or safety concerns, you should consider terminating your contract. Additionally, if you’re unsatisfied with the level of service, a cancellation may be necessary if it goes unaddressed by the management company.

Resale Value

The resale value of a timeshare is directly related to demand. If you're in a market with low demand, your resale value may be quite low. In some cases, it may not even cover what you paid for it. To be safe, research both supply and demand in your area; if there are more timeshares than people willing to buy them in your community, it might be a good time to cancel your contract and talk to timeshare lawyers in Florida as soon as possible.

The author of this article is a leading timeshare lawyer in Florida and has over a decade of experience in the industry. In this article, he explains the signs that indicate it’s time to cancel your timeshare contract. Visit https://mytimeshareattorney.com/ for more.

Article source: https://article-realm.com/article/Reference-and-Education/Legal/23482-5-Signs-Its-Time-to-Cancel-Your-Timeshare.html


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