Though getting into timeshare ownership is fairly easy, getting out can be quite a bit more difficult. Timeshare cancellation does present a way to get out of a timeshare purchase agreement with relatively little difficulty (and a full refund), but if your statutory rescission period under your state laws has passed, then you are going to have to find other options. At this point, it helps to know how to negotiate with timeshare companies for a contract exit.
Timeshare developers have a reputation for using unethical or even illegal tactics to sell timeshares to unsuspecting vacationers. That reputation only gets worse with their actual customers, who often report that these companies are unresponsive or even uncooperative when the customers are having financial difficulties and try to negotiate out of their timeshare agreements.
As the premier timeshare exit company, Centerstone Group has successfully negotiated its clients out of thousands of unfair and oppressive contracts. This article will take a look at some of the more frequently asked questions about negotiation as the lynchpin of a timeshare exit strategy. We’ll look at when the right time is to start negotiating, how long the process takes, and some of the strategies timeshare owners have used to get out of their contracts.
While it’s possible to negotiate out of a timeshare if you owe money (e.g., annual maintenance fees, special assessments, mortgage payments, or similar timeshare obligations), it is a complex process and tough to do on your own.
Some developers, especially large ones like Wyndham or Marriott, promote their own exit programs (sometimes called deed-back programs) and pretend that they will work with you to reach an exit solution. In reality, though, it’s rarely that simple. Most of them will not even consider you for these programs if you still owe money on a mortgage or if you have unpaid fees.
Even if you could still qualify for one of these exit programs, keep in mind that your participation is completely up to the timeshare company. That means that, if they decide to reject you for any reason, you can’t negotiate with them at all.
And, even if you manage to make it into a program and get the developer’s blessing to leave, you may have to wait months or even years for your exit. Timeshare companies don’t want all their owners leaving at once. If, in the company’s judgment, too many people have already left this year, you are going to have to stick around, paying more fees the whole time.
The only way to reliably negotiate with a timeshare developer while you still owe money is to have an expert on your side who can negotiate for you. This is how Centerstone Group developed its proprietary pressure campaign of letter writing, social media usage, and even regulatory complaints (like the ones accepted by the attorney general of Florida) to change the developer’s mind about letting you out of your contract.
Because every contract and timeshare situation is different, there is no standard timeline for negotiation directly between an owner and a timeshare company. As mentioned above, it is difficult to get developers to let you out at all, and even when you are accepted into a program, it can take months or years to finally end your contract.
If you are not accepted into a developer’s exit program, expect the process to be longer and more painful. Some developers may provide you with a realtor specializing in timeshares to give you hope that you may be able to sell.
The idea of a real estate sale is false hope, though. The vast majority of timeshare properties simply have no value on the resale market, which is more interested in traditional vacation properties. And the whole time that your timeshare is listed, you will still suffer the financial burden of payments to the timeshare company.
You may think that you can short-circuit the process or get leverage over the developer by using a quick “timeshare resale company” to get rid of your unit. Be careful, as these companies are almost always scams that will result in your losing even more money. Even if they weren’t, your timeshare company would likely refuse to recognize or approve any sale to a third party anyway.
In summary, the sad truth about direct negotiation with a developer is that it will take as much time as the timeshare company wants it to take, and there is very little that an owner acting alone can do about it.
The most effective strategies when dealing with a timeshare company are making frequent and consistent contact, using regulatory bodies to your advantage, and getting expert help. We will discuss each of these strategies below.
Often, negotiation with a timeshare company is a war of attrition. The company will be doing its best to wear you down. Similarly, getting the timeshare company to act will require you to make frequent contact with people at the developer, leaving messages, posing tough questions, and demanding to speak to more people.
This task is a grueling one, and you will likely have to keep up a frequency of at least several calls a week. The purpose of the frequent contact is to ensure that it is harder for the company to ignore you than to give you what you want. Getting names and phone numbers of contacts within the company to contact repeatedly is a good way to show them that you won’t be going away and need to be taken seriously.
If your timeshare company has wronged you and refuses to answer for it, you should consider filing a complaint with the agency that enforces timeshare laws. In the federal government, that is the Federal Trade Commission (FTC). In your state, you can contact the office of your state’s attorney general.
A timeshare company who is contacted by the government may feel more pressure to respond to your complaint, particularly if they think that the issue with your timeshare may lead to investigation or a legal action.
When you have already paid so much in unfair fees and costs, it can be hard to justify spending more on someone else. But timeshare companies have had years to perfect their strategies, and you’ve likely never done this before. This is why you need to hire an expert to guide you through the timeshare exit process.
A timeshare exit company like Centerstone Group can help you fill in the gaps in your experience, making the negotiations easier and faster. With team members who have decades of experience in the timeshare industry, Centerstone Group is an A+-rated, accredited company with the Better Business Bureau (BBB). We have also been rated with 4.82-out-of-5 stars by our satisfied clients.
Not only can we help you implement the strategies outlined above, but we also provide additional value in seeing whether you might benefit from other assistance. If you need legal advice, we can refer you to timeshare attorneys and law firms who will give our clients discounted rates on legal fees. We also have a robust transfer program that can provide another way out of your timeshare.
Working your way out of a timeshare contract is a tough job. You should, therefore, consider getting someone to help you to save you time, money, and peace of mind.
Going up against a timeshare company by yourself is tough business. These companies have more people and resources than you. Therefore, even if you know how to negotiate with timeshare companies for a contract exit, you may still not be successful because the process takes so much time and energy. It’s even harder when you’re dealing with the financial hardship caused by a timeshare.
And that is where Centerstone Group can help. As recognized experts in timeshare exits, we can assist you in your negotiations and get you the financial freedom you desire. Contact us today for a free consultation so we can go over your exit options and show you how to get out as quickly and painlessly as possible.
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