Average Cost to Get Out of your Timeshare

The cost to exit a timeshare varies based on the method you select to eliminate it. We will discuss these methods in detail below:

Rescission

Most countries have their own timeshare rescission laws. These laws allow owners to get a full refund from the timeshare company if their recession period is still active. This method is cost-free but requires time and patience. Here’s what you may need to know about the rescission period of your timeshare.

In this method, you only need to send a rescission letter in the developer’s format. That is why, less effort is needed. Canceling a timeshare agreement may be more challenging once the rescission window is gone.

You can find information about the rescission period of your timeshare at the start or the end of your contract. This is the easiest way of canceling your timeshare contract.

Deed Back Directly To The Timeshare Developer

It is the best method available if you want to avoid selling your timeshare. This option is not for every timeshare since not all developes offer a deed-back option. Before opting for this, you must be current on all timeshare dues.

Usually, the timeshare developer charges a fee from $500 – $2000.

Selling The Timeshare On Your Own

Selling a timeshare on your own is difficult because you need a reasonable price. The main reason is timeshares decrease in value considerably after purchase.

In this method, you have to advertise your timeshare. Hence, the average cost to get out of your timeshare is an advertisement.

On average, advertising on the following websites costs about $50 – $125. On Craigslist, you can sell free of cost. But eBay can cost you $50. There is no need to pay a high up-front fee exceeding $150 for advertising your timeshare online.

It can take more than a year to find a buyer for your timeshare, so you have to work hard.

Selling Your Timeshare Through A Timeshare Broker

This method is excellent if your timeshare is of fair value. You can sell your timeshare through a broker. Timeshare brokers work on commission. Therefore, they like to sell a well-valued timeshare to earn a good amount.

Because of the broker’s commission, this method may be costly. This method’s average cost to get out of timeshare depends on the commission rate. A low effort from your side is required.

Timeshare Exit Company Working With Lawyers

Although it is the best way to get out of your timeshare, in contrast, it can prove to be the most expensive method. Furthermore, you may need to write a statement to describe your situation where you were misled or told a lie during the sales presentation. Consequently, you may have to do some work.

Those who owe a mortgage have only a few methods to get rid of their timeshare, which requires a lot of work. Besides, most timeshare developers do not allow you to deed back if you owe a mortgage.

The average cost to get out of timeshare in this method is about $4000-$15000. This fee can increase significantly if the owner owes a mortgage on the timeshare. A medium effort from your end is required in this case.

We suggest using companies with escrow, so you don’t have to pay any fees upfront to the exit company.

Timeshare Exit Company Working Without Lawyers

This method is cheaper than a Timeshare Exit Company that works with lawyers. However, it only sometimes works. You might need to write a statement describing your situation where someone misled or lied to you during the sales presentation. You will need to write more letters, as well.

The average cost to get out of your timeshare in this method is between $2000 and $15000.