Vacation fever cooling down on you with a Bluegreen timeshare weighing at your neck? Or perhaps, there’s a sudden need for a lifestyle change and scheduled vacations no longer hold that much water for you? Or maintenance fees absurd rise giving you more stress than before? Whatever the reason, learning how to get rid of a Bluegreen timeshare without spending money may be on top of your priority list right now. Lucky you, there are various options to do just that without spending a dime.
No Chance of ROI
First things first, it is important to understand that a Bluegreen timeshare account or any timeshare property for that matter is NOT an investment opportunity. Like buying a car, you’re actually losing money the moment you hit the road. Timeshare is more of an expense rather than savings. Think: maintenance fees, property improvement fees, and so on. Add to that the additional money you’re going to spend once on vacation mode to these properties. Whether you decide to cancel or sell it, one thing is for sure– here is no ROI. In all actuality, you’re going to lose money out of your initial purchase price in as much as 90 percent.
So, what to do next? Here are important steps as well as Do’s and Don’ts to follow when planning to get rid of it.
1. Revisit your contract. Yes, the one you may have just signed a couple of days ago while partying in Puerto Vallarta or in Orlando. Every state has its own set of rescission laws that got your Bluegreen timeshare property covered. Often, rescission policy on majority of states cover the range of 5 to 7 working days. When still within that timeframe, luck is on your side as the contract can still be legally contested.
Do – Call Bluegreen Timeshare customer service hotline as well as send both email and registered mail to guarantee veracity of your move to cancel said contract. Always remember to indicate pertinent details on your request for rescission.
Don’t – Don’t just wait out. You’ll most likely be told to just wait, but be cautious. Try calling again after 24 hours and henceforth, until a sound reply had been reached.
2. Consider Bluegreen timeshare buy-back program. Within or after rescission period, Bluegreen will not just go around giving refunds of the full initial price. A typical timeshare buy-back program often means getting at least 50 percent of the original price. This may even go down when in the resale market as disdain over timeshare continue to escalate over the years.
Do – Take a rain check on current value usually offered by Bluegreen. Seek out forums and online sites offering reviews and highlights on such buy-back programs.
Don’t – Refrain from easily saying yes to the deal being offered. There’s a high chance that you’ll be offered a much lower price than what’s pegged in the market. Always see to it that you have the upperhand in negotiating.
3. Sell your timeshare to a third party. There are many ways to sell a timeshare to 3rd parties. It could be a family member, a work colleague, a neighbor, or a friend. Or you may want to sell it via auction sites like eBay. Perhaps, advertising it on your social media network also works for you. A real estate broker can also the deed for you. Regardless, selling a timeshare offers a good exit point for you.
Do – Try to widen your network when planning a resale. What could be considered a burden by you may actually bring a lot of enjoyment to others. If you must, do make use of all routes possible to sell your timeshare.
Don’t – Never trust timeshare exit companies asking for a service fee or any up-front fees in creating a resale strategy. Reliable ones never ask for fees but rather offer a huge leeway for owners to recoup their losses.
4. Donate it to charity. Be a good samaritan for a change. A charitable institution may be able to use said property by renting it out. Even when you’re giving it away, long term goals are definitely being met.
The next time you find yourself wondering how to get rid of Bluegreen timeshare property, read the suggestions above. Regardless of your choice, a research done beforehand can come handy particularly when negotiating for a fair price.