For the past few years, there are several timeshare developers that have experienced significant growth of facilities worldwide. Few of this growth were because of great business practice and generosity 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 those who have bought timeshare and later decide that it is not for them or simply, they just can’t bear the expense of being a part owner of. They are seeking timeshare cancellation as a result of this.
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. On the other hand, given the fact that timeshare cancellation is largely based on discrepancy particularly in sales process, the timeshare sales representative should have done something wrong first to be able to qualify for the 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 of all, you’ve got to check the contract for clause saying something about rescission period. When you want to submit a rescission request, you might look for the specific details that is concerning the contract’s deadline. Then, you should make a note of rescission deadline immediately and the instruction on how you like to cancel the 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. On the letter, try making it short and concise and remember that you don’t have to explain everything. What’s important is that, they know that you’re just exercising your right to rescind the contract by 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. So make sure that you act fast to prevent unwanted issues like this.