When Can You Request a Timeshare Cancellation?
You were on a superb vacation at a resort and have had a fantastic time there. You met a sales person there who gave you a wonderful offer to buy timeshare by which you will be able to enjoy this particular time period in that resort every year. After having such a great experience, this offer sounds like music to your ears and to make you accept that offer salesperson added a few more benefits to the offer like tax benefits and so. As the offer seems quite attractive you decided then and there to opt for it. The sales person gave you a contact and you have signed it willingly. Now that when you are back home and came out of the excitement and thrill of the vacations you have realized that you don't have enough time to spare for the vacations each year and even if you do have you won't be willing to visit the same place again and again. Or you have realized that the benefits associated with that offer which made it seem even more attractive was not that applicable and you have fallen prey to the flattering of the salesperson. After this realization you want your money back and come out of that contract. Following points can help you understand when you can request a timeshare cancellation.
- As soon as you realize that you don't want to go any further with the contract you must look into the cancellation clause of your contract. There must be a rescission period which will show the number of days in which you can legally cancel the timeshare contract. This rescission period varies from place to place and the given number of days is normally 5 to 10. If your contract's rescission period is not yet over you can cancel the contract just by sending a written notification to the timeshare company. You must demand a signed receipt with clearly mentioned date so as to have a proof that you have sent the cancellation within the rescission period.
- Try to get in touch with the top management about the issue if you don't get a positive response from sales department. They might accept your cancellation if they don't want their company's reputation to be hurt and the probability of the cancellation is much higher if you are one or two days late from the rescission period.
- If you want to get rid of the contract because you were misinformed about certain benefits or certain false promises were made, you should state them in your cancellation. This will help you come out of the agreement if your rescission period is over.
- You can hire an attorney to help you out with the contract cancellation. He will easily find a way out by just looking at your contract. Best time to for cancellation is 5 to 10 days (as mentioned in your contract) but if you miss this period and you can't negotiate cancellation with the timeshare company successfully you can go to Better Business Bureau with your case. They will definitely help you out!
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http://www.selltimesharefast.org/ provides interesting tips for timeshare cancellation
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