Maintaining a timeshare property can be difficult in the present economic times. Many people are found to buy a fraudulent timeshare and want to cancel it at a later time. With living costs going up and the economy going downwards, many owners wish to get rid of their timeshares. If you wish to cancel your weeks and get rid of your timeshare, it needs to be done in a proper manner. Do not be desperate to cancel timeshare immediately. Rather, you should remember the following tips and go about the process in a proper manner.
Do not take hasty decisions
Do not try to cancel timeshare property as soon as possible, as you may end up taking hasty decisions which would be unprofitable for you in the long run. Major purchases, sales and cancellations of real estate properties need you to think carefully and consider the various financial situations that may occur.
Make a request for cancellation
You should write a letter to make a written request that the company that sold you the timeshare property understands your situation and offers a written response for your notice of cancellation. The response that you can expect should contain all the details about when and how you hope to get the refund. You can write down the reasons for your desire to cancel the contract, although that is not mandatory – particularly in cases where you just exercise the right of rescission that you enjoy by law. If you want to keep a record of your documents, send the notice via standard mail so that the date of sending of the letter and the signature of your recipient in receiving it are recorded by the postal service.
Get legal assistance
Even in case you did not cancel timeshare within the rescission period, you can still depart from your agreement. It is best to get in touch with an attorney and seek legal advice about the options that you can choose from. In case you wish to cancel the agreement because you were lied to or misled about the timeshare contract, you will be able to do it on the grounds of fraud and misrepresentation. Your attorney would ask for exactly what you were told by your sales agent. Any evidence of being compelled or pressurized by the agent at the time of the presentation can amount to wrongdoing and lead to the cancellation of the contract.