A timeshare is a costly thing but it will give you the best vacation experience to the owner. With the existing economic climate, everyone is looking for a cost-cutting option. It is sometimes wiser for the owners to cancel the timeshare contract that he/she owns. It is really important to find out the right time and the right options to cancel the timeshare agreement. Here you will find a few easy steps of how to cancel your timeshare contract:
Read the contract
Read the contract properly and look for some specific details that come with the deadline to submit a rescission request. Everything you need to know is in that is your contract; you just have to read it thoroughly and carefully look for it. Make note of your rescission deadline and the instructions listed there on the right way to cancel your contract successfully.
Rule of rescission
Almost all the states have a set of rules of rescission. This is the time period in that the buyer can change easily his mind and can cancel the sales contract without forfeiting any type of money. But keep in mind that the rescission period varies state by state.
Write your cancellation
Once you find all the necessary information you require from your contract, the next step should be going to write a cancellation. Be sure to keep it short and simple. You don’t need to explain anything to anyone, like changing your mind, or you are not able to afford it, etc. All you need to explain is that you are using your right to rescind your contract as per the terms and clauses of agreement. In your cancellation letter, include your details like name, your address, your contract number and surely the date of purchase. If a deposit is made, go for a return request. Your company will also help you to simplify the process for you.
Write the letter
Once you have found the needed information from your contract, make a certified letter stipulating that you want to cancel your timeshare agreement. Make it short and take note that you don’t have to explain anything. The important thing is they know that you are exercising your right to rescind your contract by the terms of the agreement. Include your name, address, contact number and date of purchase in your cancellation letter. Once the deposit was taken, you must request its return. In some cases, your company will have a form available to simplify the process and you can use that instead.
Send Your Rescission Letter before the Deadline
You need to send your recession letter in the process of how to cancel your timeshare contract also before the deadline to cancel the timeshare contract. As you are offering the certified letter, you can ask for the signed receipt that means they need to respond. Have a copy of all the important documentation. Ensure that it is postmarked before the deadline so that you will be able to keep the proof you mailed it on time if there any conflict.
Time to Follow-up
You need to follow up on the process if you don’t get an answer within 30 days from the company to get the cancellation done.