A timeshare is said to be a costly thing though it may give a great holiday experience to the owner. However, in this unstable economic climate, you can opt for inexpensive forms of vacationing or use the money for other important things. But, if the owner who had just purchased a timeshare decides to get rid of such property; he can do so without paying the initial payment by availing through a timeshare rescission period. Following are the smart steps that you need to take for an easy timeshare cancellation:
- Rescission Right
Almost all states have a rule of rescission in the United States. Rescission is the time period in which the buyer can cancel the sales control without paying any money. However, the rescission period varies state to state. You can take the help of a qualified timeshare lawsuit advisor in order to get an in-depth insight on timeshare cancellation.
2. Know Your Agreement
Be thorough with your contract for a clause regarding a rescission period. All the required details related to your rescission period are mentioned in the contract. When you want to file a rescission request, you can check for the specific details pertaining to the deadlines in the contract. Then, make a note of your timeshare rescission deadline and the instruction on cancellation of timeshare.
3. Write a Certified Cancellation Letter
Once you have got the required information from your contract, make a verified letter stipulating that you want to withdraw your timeshare contract. Mention your name, address, contact number and date of purchase in your cancellation letter. Make it short as you do not have to explain anything.
4. Send Rescission Letter
Most importantly, you must send your cancellation letter before the deadline. With a validated letter, you can demand a signed receipt, which means they have to act in response. In addition, make copies of all documentation.
Owning a timeshare has become a daunting task these days. As a matter of fact, there are numerous owners who are trying to get rid of their timeshares. Also, you may seek the help of a professional timeshare lawsuit consultant for a hassle-free cancellation.