Is it Possible to Do a Timeshare Cancellation?
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, a big portion of this growth could be attributed to aggressive and forceful sales marketing methods on the part of timeshare sales rep.
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. This puts them to request for a timeshare cancellation.
As for timeshare cancellation, it is basically the process of deeding timeshare back to the developers based on the discrepancies in the contract as well as the sales process associated with timeshare contract. There are instances as well that the consumer can recover all or part of the losses incurred in timeshare. Given the fact that timeshare cancellation is based largely on discrepancy on the other hand especially in the sales process, timeshare sales representative must be proven to make a mistake for them to qualify for a cancellation. 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 things first, you should check the contract for clause which says about rescission period. When you like to submit a rescission request, you may check out for specific details that concerns the contract’s deadline. The next thing you should do is to note the deadline of rescission and also, the instructions on how you wish to cancel your timeshare contract.
Number 2. Write a cancellation letter – so, after knowing the info that you need from the contract, the next thing that you should do is to make a certified letter that is stipulating you want to cancel the contract. Remember that you’re not bound to explain your side thoroughly so make it short and concise. The most important thing is that, you are just exercising your right to rescind from the contract, following the terms of agreement. In the cancellation letter, be sure to include your contact details, name and the date of purchase to make it valid.
Number 3. Send the rescission letter prior to the deadline – don’t expect that you will get an approval for having your timeshare agreement cancelled especially if you have sent your letter passed the deadline. With this in mind, see to it that you move fast to be able to avoid these unwanted issues.