For the past few years, there are several timeshare developers that have experienced significant growth of facilities worldwide. Some of this growth was a result of generosity and great business practices throughout their facilities. However, we can’t deny the fact as well that the aggressive marketing tactics of timeshare sales representatives have contributed a lot to this growth.
On the other hand, there are people who have purchased timeshare and decided later on that it isn’t for them or realize that it is a big expense for them to be a part owner of it. They are seeking timeshare cancellation as a result of this.
When it comes to timeshare cancellation, it is more of the procedure of deeding the timeshare back to its developers which depend on the sales process with the timeshare contract as well as discrepancies. There are instances as well that the consumer can recover all or part of the losses incurred in timeshare. On the other hand, to be able to qualify for a timeshare cancellation, it is imperative that the sales representative has indeed made a mistake before they become eligible for cancelling their contract. The sale of timeshare to Americans are actually regulated by over 52 laws.
There are several ways in which timeshare contract can be cancelled and it is by doing the following:
Number 1. Learn about what the contract is about – first of all, you’ve got to check the contract for clause saying something about rescission period. When you like to submit a rescission request, you may check out for specific details that concerns the contract’s deadline. Then, it is time to make a note of rescission deadline immediately as well as the instruction on how you want to cancel your timeshare contract.
Number 2. Write a cancellation letter – after learning the info you need from the contract, your next course of action is to make a certified letter stipulating that you want to cancel it. Remember that you’re not bound to explain your side thoroughly so make it short and concise. What’s more important here is that, you know your rights that you can withdraw from the contract anytime you want, following the terms of agreement. See to it that you have included your contact details, name and the date of purchase in the cancellation letter because if not, it isn’t going to be valid.
Number 3. Send the rescission letter prior to the deadline – keep in mind that your letter would become useless if you won’t be able to submit it before the deadline; when such thing happens, don’t expect that your cancellation will be granted. With this in mind, see to it that you move fast to be able to avoid these unwanted issues.