Vacation timeshares were once very popular. You may have signed up during a time where finances were going well. The economy has changed so much that the payments can become overwhelming. Even though the time is prepaid on most plans there is still transportation, meal, and entertainment costs to factor in when going on one of the vacations.
If you’ve purchased a time share you may have the impression you are locked in for life. Many people are unaware that it’s not true though. There are various options of getting out of the contract. Here is some guidance on the steps you should take to sell your unwanted vacation timeshare.
Check Your Contract
Read over your contract and look to see if it’s deeded or leased. Deeded means it’s yours for life. Leased means you own it for a specific amount of years. If it is deeded you can sell your timeshare. If it’s leased you may have to make the payments until the contract is up. Either way you are responsible for the payments until it is no longer yours.
Advertise With a Reputable Timeshare Selling Organization
You’ll want to see if you can sell your timeshare through a reputable organization. There are many companies that scheme on people who seem hopelessly wanting to get out of their timeshares. These companies may charge an upfront fee to list it and you may never see your timeshare sold. A reputable one will list it for sell or for rent and will take their portion after the sale.
Consult With a Company Who Provides Legal Assistance
After reviewing your contract you may feel you don’t understand it in full. If you do, it’s still advised to get legal representation especially if the timeshare is unwilling to make compromises or are not making efforts to contact you back. A company such as Right Choice Transfer is able to help you legally transfer a timeshare out of your name. They take the worry and stress out of it all.