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What to do when you want to cancel your timeshare

The first thing you need to do when thinking about canceling your timeshare is to recognize your reasons for doing so and whether you are just getting cold feet or listening to the negative views of others. Many people have second thoughts just after making a big purchase and so you should take some time to remember the benefits of your timeshare and how you can make it work for you and your family. Canceling can be a lengthy and costly process, if at all possible, so you really need to be sure that you want to cancel your contract.

Beware of advice given in timeshare forums because frequently companies take advantage of your doubts to encourage you to take legal action that is very expensive for you and highly lucrative for them! Unless there is a clear breach of your timeshare contract you will not have any legal grounds to cancel your timeshare, therefore you should seek a second opinion if a company tells you that you can get a full refund as that is highly unlikely and therefore an indication that you might fall victim to a cancellation scam.

If you feel you have legitimate grounds for canceling your timeshare, such as a deliberate scam, a nonexistent resort or a serious misrepresentation, then you will need to collect all the evidence that you can. If your case is based on your word against the seller, then you are likely to be very disappointed as your contract will be the only thing to stand up in court. If however, the reality of your situation is unreasonably different to the clauses in your contract, then you may have a solid case. In all circumstances, it is best to contact the timeshare company first, particularly if they are a reputable long standing operator, to see if there is any way they can rectify any consistencies in your contract.

Otherwise, if you want to cancel your timeshare simply because you have changed your mind, then you are best to find some other solution to your circumstances as cancellation is likely to cost you more money than you think you are going to save. If keeping up with your maintenance fees is causing you problems, then try renting your unit to friends and family or as a last case scenario try to sell it.

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  1. Many owners don’t know how to get rid of their properties, and a big part of them have been trying to do it for years. They were told that they could rent their units out and even make a profit, or that they could resell the timeshare very easily and for a bigger value. That sounds like a good deal, doesn’t it? But then, if you take a look at EBay, you’ll see several timeshare offers for a buck or even less! That’s because renting or reselling a timeshare is not an easy task at all, in fact, it is almost impossible. Therefore, to cancel a timeshare becomes the easiest way to dump a property.

  2. Thousands of International travelers, particularly from the US and Canada, have fallen victims oftimeshare fraud while vacationing in Mexico. Resort developers hire skilled salesmen to represent their timeshares as many different attractive packages, such as financial investments, deeded properties, or vacation clubs, just to increase their sales.

  3. By law, you have five business days in Mexico to cancel the contract after you have signed it. If you decide to cancel the purchase within this period, notify the developer by email and certified mail. Keep the receipt as evidence you cancelled on time. You should receive a prompt refund of all the money you have paid, without any cancelling penalties, within fifteen business days

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