Timeshare Exit Company News

More Information Regarding these Timeshare Statistics

Percentage of Americans that own a Timeshare: Approximately 7.5% of American households own one or more timeshare weeks, highlighting the popularity of timeshares as a vacation ownership option.

Percentage of Timeshare Owners Who Want Out: Around 85% of timeshare owners regret their purchase, citing reasons such as money, fear, confusion, intimidation, and distrust.

Percentage of Timeshare Sales Involving Initial Buyer’s Remorse: It is estimated that nearly 30% of timeshare owners feel some degree of buyer’s remorse shortly after their purchase, primarily due to the high costs and long-term commitments involved.

Percentage of Timeshares Purchased on the Secondary Market: Only about 3.3% of timeshares are resold on the secondary market at any given time, indicating low liquidity and a challenging resale market.

Percentage of Timeshare Contracts with Perpetual Clauses: Approximately 85% of timeshare contracts are perpetually binding, meaning they are designed to last indefinitely, which can complicate the exit process for owners.

These statistics reveal some of the challenges and characteristics of the timeshare market, including high levels of owner dissatisfaction and difficulties in resale.

Here are some practical tips to help you avoid getting scammed:

1. Use a company with a guarantee: Timeshare exit companies that truly work will offer a guarantee. Make sure the guarantee is in writing and part of the agreement you sign with the company you choose.
2. Research the company online: Check for mentions of the exit company online and verify that they have a credible online presence. Google, Trust Pilot and the BBB are good sources for research.
3. Check their BBB status: Avoid companies that are not listed on the Better Business Bureau (BBB) or that have poor reviews and low ratings there.
4. Demand written agreements: Ensure all agreements are in writing, with no exceptions. If they don’t provide a written agreement, you should consider other options.
5. Shop around: Take your time to explore different options and find the best solution that meets your needs. If they use high pressure sales tactics, we recommend looking elsewhere.

By following these guidelines, you can minimize the risk of falling victim to scams and find a reliable timeshare exit company.

Exiting a timeshare involves breaking your contract and escaping ongoing maintenance fees. Many timeshare owners consider this option after unsuccessfully trying to sell their timeshare.

If you find yourself stuck with a timeshare, exiting might be your best choice. Typically, this process involves hiring a professional team to handle the exit. Although this requires an investment, it could save you from years of costly maintenance fees.

Here’s a clearer picture of the process:

1. Understand the Terms of Your Contract: Start by thoroughly reviewing your timeshare contract to understand any stipulations or penalties for exiting.
2. Consult a Professional: Because timeshare contracts are complex, working with a professional who specializes in timeshare exits can provide crucial guidance and increase your chances of a successful exit.
3. Explore Legal Options: A professional can help you understand if there are legal grounds for terminating your timeshare contract, such as misrepresentation or other unfair practices.
4. Prepare Financially: Be ready for the costs involved in the exit process, which might include legal fees and payments to the exit company.
5. Document Everything: Keep detailed records of all communications and transactions related to your timeshare exit. This documentation can be crucial if disputes arise.

Educating yourself on these steps and preparing for the exit process can make a significant difference in achieving freedom from your timeshare obligations efficiently and effectively.

Typically, buying real estate is seen as investing in an asset that will likely appreciate over time. While this increase in value isn’t guaranteed, it’s a common expectation.

However, timeshares deviate significantly from this norm. In most cases, timeshares depreciate immediately after purchase. This stark depreciation is a primary reason why timeshare owners find it challenging to resell their shares. The initial value drop can be so severe that the resale price often amounts to only a fraction of the original purchase price.

The financial dynamics of timeshares contrast sharply with those of traditional real estate transactions, such as buying a home. When you buy a home, the majority of your payment reflects the property’s market value, with a smaller portion covering fees for professional services involved in the transaction. With timeshares, however, the situation is almost the opposite. A significant portion of the cost is not for the actual share of the property, but for other expenses like sales commissions and marketing perks, which are often substantial. These costs do not contribute to the timeshare’s resale value.

This difference in value retention between timeshares and typical real estate stems from several factors:

1. Market Oversaturation: The timeshare market often has more sellers than buyers, which drives down resale values.
2. Limited Usage Rights: Timeshare ownership is not the same as owning property outright. Owners have restricted use, typically one to two weeks per year, which lessens the appeal for potential buyers.
3. Ongoing Costs: Maintenance fees, which can increase annually, make timeshares less attractive. These fees apply regardless of whether the owner uses the property or not, creating a financial burden over time.
4. Consumer Perception: The aggressive marketing tactics and high-pressure sales pitches commonly associated with timeshare purchases can create negative perceptions among consumers, further complicating resale efforts.

Due to these factors, selling a timeshare can be extraordinarily difficult, often requiring owners to sell at significantly reduced prices or use the services of a timeshare exit company to dissolve their ownership.