The best advice we can give is to avoid timeshares purchases all together. They are generally not a good investment and are a depreciating asset, much like a car. When you look at the total cost of a timeshare compared with purchasing a vacation from discount websites like Expedia or Bookit, you generally get a much better deal purchasing a vacation online. You can also stay in Timeshares without being an owner. Visit this site to see how this is possible. You can just enter your credit card and pay for the time you need on your schedule. Timeshares are also a lifetime commitment. Once you have paid off the mortgage you will still owe maintenance fees for a lifetime. However, if you have already purchased a timeshare and are now looking for a way to get rid of it there are options.
Most timeshares depending upon the state in which you purchased have a contractual cancelation/rescission provision of between five (5) and ten (10) days. This is the easiest way to get out of a timeshare, but because timeshares are generally purchased on vacation this period may run out before you even return home and have a chance to completely review the contract. If this has happened to you, we can help.
Once this cancelation/rescission period is over things become much more complicated. You can attempt to sell your timeshare through a resale company. Unfortunately, there are many scams out there and we have had a number of Clients who have fallen victim to unscrupulous companies with little to no recourse. Making matters worse, the resale market is very unfriendly to sellers. You can get on any sales website like eBay and find a timeshare for sale for as little as one dollar. ($1.00.).
The final option is to hire a cancelation company or a law office to cancel your contract. There are a number of ways this can be achieved. The benefit of hiring a law firm to cancel your timeshare purchase are numerous. First, a law firm can provide actual legal advice on the implications of canceling a timeshare contract. Second, a law firm has the ability to file complaints with the attorney general, real estate division, and attend arbitration. Finally, and most importantly law firms are subject to the rules and regulations set forth by the state bar. This gives the client the assurance that they are hiring a legitimate business and ensures that if for some reason something goes wrong they have some recourse. At O’Grady Law Group we focus on getting Clients out of their timeshare obligations and have a track record of successful results with the major timeshare developers. Call us today 702-721-8708!