Owning a timeshare can be an exciting experience while anyone is still in a state of vacation euphoria. But once maintenance costs and management fees start pouring in, so does regret and the need to get rid of a timeshare contract becomes urgent. However, getting out of a timeshare deal may not be as easy as one may think.
In fact, it comes with a hefty price tag and a little bit of one’s sanity. So, what is the average cost to get out of a timeshare? Is there a fast and surefire way to get rid of a contract without spending a lot? What factors are known to affect cost of timeshare exit?
Read on to know the answers.
Factors Affecting Cost of Timeshare Exit
Truth be told, it is virtually impossible to peg an exact amount or price range to completely and successfully get rid of a timeshare. Contracts which are within timeshare’s rescission period (or cooling off period) don’t even come for free. So does getting rid of a timeshare that’s already rooted to your assets– or should it be in liabilities? Timeshare exit costs vary from one resort developer or timeshare management company to another. Exit companies also offer varied service packages, each with different costs. Often, costs for these packages are largely dependent on the following factors:
- Type of timeshare contract. The type of timeshare contract you have will largely affect the cost of getting rid of such. Popular and in-demand timeshare properties are easier to get rid of thus, allowing you lower cost on waiting time. Contracts littered with voidable provisions can also lessen cost as well as burden when canceling a contract.
- Timeshare status. Is your timeshare paid in full or still has mortgage attached to it? Getting rid of a fully-paid timeshare property can be easier and quicker with less issue whatsoever than one that’s not. When paid in full, timeshare exit company can work around various strategies that can impact fast and successful resales.
- Timeshare exit package. Whether you hire a timeshare lawyer or a timeshare exit management company, actual plans and strategies to be done will largely impact cost of getting rid such. Complicated tactics can cost more. The longer the action plan will be carried out will also translate to highest cost.
- Service Cost. Timeshare exit companies offer service fees differently. Some may lure you into their money-back guarantee program. Hogwash! There really is no such thing as free service cost when getting rid of timeshare. In all actuality, getting rid of a timeshare is a costly endeavor. Some timeshare exit companies, by the way, offer by-the-hour service package, flat rate or a customized plan tailored for your unique situation.
- Exit Team reputation. The more reliable and trusted a timeshare exit company also means higher cost. Company’s longevity in the business, its expertise, connections and expertise will ultimately benchmark price range for timeshare exit services.
According to studies and testimonials, cancellation services can run to an average of $4000. This even becomes higher when pushing for a resale to get rid of a timeshare account. If you wish to know how much a particular timeshare exit company charges, you may want to get into its free consultation services or ask for a direct quote.
More Than Money
So, what is the average cost to get out of a timeshare? Without a doubt, you’ll be spending a lot more than you’ve expected. Even when pegged at $4000 or less, always remember this: expect for more.
Apart from the thousands of dollars spent on timeshare exit packages and service costs, you will also be enundated with stress and worries– which, inarguably, makes getting rid of a timeshare go far beyond balancing a checkbook.
If you plan to get out, try to find a reliable timeshare exit company or perhaps, a lawyer with timeshare expertise. Even when most costly, these professionals can give you one thing at the end of it all– peace of mind. That’s priceless!