How to Get Out of a Timeshare Contract By Emma Martin

Did you just buy a timeshare on your vacation? By now, you are probably at home wondering what on earth you just did. The feeling may be just a bit worse if you have started to look at resale prices online. Hopefully, there is still enough time to get out of the timeshare contract. But let's not waste any more time.

Many countries have laws in place that allow you to cancel within a certain period of time (Mexico is five days), but I'm not very familiar with international timeshares since all of mine are located in the US. So I can only tell you how it works in this country. Here's what you need to know if you bought a timeshare in the US.

Nearly every state has enacted provisions that let you rescind your timeshare contract within a specified period of time. For some states, it is as little as four days. Nevada, for example, requires that you cancel your timeshare contract by midnight of the 5th calendar day after you signed the contract. South Carolina only allows four days (excepting Sundays).

Florida, on the other hand, allows the purchaser 10 calendar days to rescind the contract from the date of purchase. So you need to know what the law is in the state where you bought the timeshare. It's important to note this too. It doesn't matter which state you live in. The laws that apply are the laws of the state in which you signed the contract.

The timeshare contract, or its accompanying paperwork, should tell you the information you need to know, including how to go about canceling the contract. There may be a form for you to fill out or you may just have to write a letter. In all likelihood, this material is buried in your paperwork, so look through everything.

They are required by law to give you this information, so it is in there.
As soon as you have found the information on how to rescind your timeshare contract, be sure to follow the instructions to the letter and then get it into the mail promptly. I would advise using certified mail with return receipt so you will have proof that the timeshare company received your request.

Once you've managed to get out of the timeshare contract, then you can relax and take your time investigating time-sharing if the idea still appeals to you. It can be a great way to vacation, but there's no reason to rush into anything.

Cash For Your Timeshare By Norm Butler

In this tough economy many people are looking at ways of getting cash to help with bills, temporary unemployment, or just about anything else related to this recession. If you own a timeshare and are looking to get cash for it, you might be in luck as selling your property is one easy way to help you in these tough times.

Selling a timeshare might sound complicated but really it's just like trying to sell any other type of real estate such as a house, condo, or apartment.
You should be aware of a few different options you have when looking to get cash for your timeshare and each one is explained below.

1. The first option you have is trying to sell your timeshare by owner which you would simply handle all the tasks at hand that goes along with selling a property. This would entail advertising your property for sale in the newspaper, internet, etc. You would need to handle all the legal documents and negotiations yourself. The advantage of this is that you wouldn't have to pay a Realtor or another company a commission for selling your property.

2. The next option is to have a Realtor sell the property in which case they will take care of all the advertising, show the timeshare, negotiations, and legal documents. You would need to pay the Realtor a set commission price when selling is the only disadvantage in this route.

3. Another option is to sell your timeshare to a company that purchases them directly. You may have seen the TV commercials for these ads where they will pay cash for your timeshare. Going this route is the easiest if you're looking for a quick sale as they will most likely give you an instant quote for buying your timeshare. The only disadvantage in this option is that you will probably get the lower selling price as compared to the first two options.