Timeshares are a tricky topic for many. You can talk to one person, and they’ll tell you their timeshare is the best investment they’ve ever made. In that instance, you’re likely to learn the timeshare investor in question found the right circumstances. For example, they probably have an easy time scheduling time for their fractionally owned property. However, timeshares can often lead you down a primrose path and seriously damage your finances. Many horror stories of such an ilk exist. We’ve heard everything from mounting hidden costs to limited scheduling options and restrictive contracts that lead to decades of unneeded debt. Provided your timeshare in Georgia is everything you hoped for, this article isn’t for you. You’ve found something that suits your lifestyle. As such, we support your happiness even as the go-to timeshare exit team Georgia has come to trust. However, if it’s clear that you’ve made a mistake and you don’t want your timeshare to hamper you for a lifetime (and then some), this article is for you. We’re the top timeshare help source Georgia has to offer. Thus, we have the tips you need to leave and minimize any potential headaches.
Why People Come To The #1 Timeshare Exit Team Georgia Has To Offer
Are you on the fence about your timeshare? Specifically, have you invested in a timeshare, but it’s not all you thought it would be, and you’re hoping you can make the most of it? Well, here’s what you must consider: Many unfortunate timeshare investors find out the hard way that the salesperson and resort owners are the only ones who benefit from their investment. Sadly, in the worst-case scenario, investors/fractional owners end up with a minor percentage of a unit with non-existent resale value. Why is there typically little resale value for your timeshare? The market for reselling is enormous, and units get sold for under half of their original price. Typically, you’re paying a marked-up price that covers giveaways, incentives, and sales presentations. So, it’s not surprising that your timeshare dwindles in value as soon as you buy it–much like a car as soon as you drive it off the lot. With the above sentiments in mind, ask yourself if you bought your timeshare while on vacation. If so, mull that notion over for a second and contemplate how low your defenses are in these situations. You’re relaxed on vacation. You’re seeing everything from a glass-half-full perspective. We make the above point because you shouldn’t blame yourself. Pitching a timeshare to you while you’re on vacation is a sales tactic that anyone can succumb to. What sounds like an R & R eutopia ends up costing you a fortune in maintenance fees that increase annually. On top of everything else, the Coronavirus pandemic has damaged the timeshare industry, and sales haven’t yet returned to 2019 levels. Many existing owners want to get out of their timeshares because traveling is now riskier and more inconvenient. Does any of this sound familiar to you? Have you invested in a timeshare and are now facing the prospect of all the above pitfalls? Again, we’ll reiterate timeshares can work for specific investors. Still, if you aren’t one of those lucky individuals who see value in their timeshare, try out the following 3 strategies to exit your timeshare.
1. Reach Out To The Timeshare Developer
The US is home to over 1,500 timeshare resorts. There isn’t a one-size-fits-all approach or criteria to exiting, selling, or relinquishing ownership of a timeshare. In certain situations, there might be an abundance of (legal) strings that need pulling. You might need to jump through hoops to get your desired result. Yet, you can save yourself from plenty of strife by taking the first crucial step when you want to exit your timeshare: getting in touch with the developer. It’s the direct approach, and it won’t always work in your favor, but you might be surprised at what you accomplish. There’s a chance that developers will allow you to relinquish the deed through a surrender program or deed-back program. With these programs, you won’t receive any proceeds from your exit. That said, it’s the most hassle-free and safest strategy to get out of the timeshare contract. Also, fortunately for many timeshare owners who want out, it’s become a more common exit option offered by developers over the past few years. Some developers might demand that you pay them to take back the timeshare. This option could prove viable depending on the price you’re being asked to pay. It might be worth the peace of mind to get the timeshare off your hands so you can be done with the financial strain after the upfront exit fee. For this strategy to succeed, you’re hoping for a best-case scenario. You need to be dealing with principled developers with scruples. You won’t always be so lucky. The developer could have a predatory response and ask you to pay a sky-high upfront price to exit your timeshare. Or, they might not give you any pathway to relinquishing ownership and demand that you adhere to the contract you signed. All the same, asking never hurts. Even if you don’t get the answer you want, it will help formulate the rest of your timeshare exit strategy, which might entail you to follow our next suggestion:
2. Put Your Timeshare On The Resale Market
We’ve made no bones about you not getting anything in the way of a return by reselling your timeshare. That said, it’s a method that could recoup some of your costs and help you make a clean break from your fractional property ownership. If DIYing this process was straightforward, everybody jilted timeshare owner would do it. However, if you aren’t careful, reselling timeshares on your own is rife with complications, potential snafus, and financial sinkholes. Those wishing to resell their timeshare location must weigh a few factors, starting with how much remains on your mortgage. There’s also the matter of your timeshare’s location and how desirable it would be to potential buyers. Reaching out to a real estate agent for advice could help. The same can be said for researching the resale value of timeshares similar to yours. In both instances, you’ll garner a better idea of a realistic listing price for your timeshare. Reselling your timeshare on your own proves the best option when all the stars are aligned in your favor. You need willing buyers at the ready, your mortgage situation must be ideal, and the leg work of reselling shouldn’t run you into the ground. In reality, the stars won’t likely align in your favor–even with a real estate agent. The stipulations are tricky, the market is unique, and not all timeshare owners wanting out have paid off the bulk of their mortgage. That said, it’s still a possibility and a worthwhile consideration if you can make it work. This option is only viable if you’re okay with being hands-on and have the time to become a timeshare real estate expert. In our experience as the best timeshare exit team Georgia has to offer, our clients want a clean break without all the hassles and demands of reselling on their own. You’ll benefit from following our next tip if this sounds like you.
3. Reach Out To The #1 Timeshare Exit Team Georgia Has Come To Rely On
The most stress-free, immediate solution to get out of your Georgia-based timeshare is by working with the top timeshare exit team Georgia has to offer. This option will serve you best when the other two attempts at getting out of your timeshare fail. Timeshare exit teams know the ins and outs of the industry landscape, the regulatory complexities involved, and the hurdles preventing your exit. As the best timeshare exit team in Georgia, we make it a point to educate our clients about their exit options. We’ll go through various solutions that best suit your needs and financial circumstances to give you the best possible result. We ask the right questions to get all the facts and paint the most transparent picture of what you need to get out of your fractional ownership as unscathed as possible. Additionally, we keep our ears to the ground, staying on top of the always-evolving timeshare landscape. Changes such as mergers, bankruptcies, and buyouts are all familiar to us, and we’re experts in navigating those murky waters. Something else we’ll prepare you for is the scare tactics the resort might employ to dissuade your exit. After all, resorts have a vested interest in your paying them thousands of dollars per year. So–they’ll do what they can to hold onto that reliable source of revenue. You might face false collection attempts, for instance. Lastly, proven timeshare exit companies like ours have an excellent reputation, vast resources, and ironclad processes to help you relinquish your ownership. With these tips, you now have 3 legal strategies to help you exit your timeshare–soon, contact us and you’ll be able to breathe easy and move on with your life.