How do I get out of a Florida time share agreement?

Question

I LIVE IN CANADA, WISH TO TERMINATE AGREEMENT, DO NOT USE IT, HAVE BEEN PAYING MONTHLY MORTGAGE,

Answer 1

There are many forms of timeshares and vacation ownership, some of the time shares are part of an exchange program, where you can exchange your week or time period and use it somewhere else, where you do want to be. There is a company called RCA that coordinates these type of exchanges.

In addition there is a number of online companies that actively sell time share interests and will charge a reasonable fee for the service upon results.

There are off course also companies that will sell the time share on an up front flat fee base.

You need to decide what works best for you.

Time shares have a very limited resale value, as there are many around and most are sold by high pressure sales pitch and once people consider the consequences and fees, many people will decide to try to get out rather than keep them.

If you know of business people around you may want to offer them the week as a business perk for their clients and a deductable expense.

as an investment, time shares are not a good real estate investment, but may be a good vacation solution for the right people and circumstance.

If you want to be creative about it, you may be able to trade the timeshare in for a car, boat or other type of purchase and both you and the reseller of what you might be able to trade for can win out of the deal.

Next time you are thinking about a real estate type investment, think of the long term FINANCIAL implications and benefits, not the emotional ones.

From your question, you have the property financed, not making the payments is not really an option, as it will seriously affect all of your other financial activities and ability to retain good credit.


Good Luck

Answer 2

Usually most time share companies will help you sell the time share you should sell it. If not I believe Century 21 has an affiliate company that handles sales of time shares. No sense in loosing what you have in it.

Answer 3

sell it on ebay... any return is better than paying money for something you cannot use.