How to get a refund on a timeshare
Timeshares are generally a bad deal. If you’re on the fence, read our guide to deciding whether a timeshare is right for you. If you need a refund for your timeshare, you need to speak with The Peoples Advocate.
How to get a refund on a timeshare. So you’ve decided that a timeshare isn’t right for you.
You’ve heard that you can get your money back, but doesn’t have any idea how to go about it. Here’s how to get your money back.
Timeshare return policy. Every timeshare has its own return policy, and they vary widely. Some offer 100% refunds; others offer only 50%. Some require you to complete the entire buyout before they’ll give you anything back; others will refund partial payments, if you’re willing to do some work yourself.
If you’re unsure of what return policy applies to your timeshare, contact your sales agent or developer directly. (If you don’t know who these are, ask the resort or property manager.) Timeshare companies aren’t required to tell you their policies upfront — in fact, they may not even be willing — but if you press them for details, they’ll eventually tell you the rules.
If your sales agent or developer won’t help with this information, contact the timeshare resort where your unit is located and ask.
It’s never easy to get a refund on a timeshare, and so many timeshare owners are left with no choice but to sell their timeshare at a discount in order to have enough funds to get out from the contract.
Trying to get a refund for a timeshare is a difficult process, especially if you have already paid the maintenance fees for several years. If you stop paying the maintenance fees, there’s a possibility that your resort will foreclose on your contract and take ownership of your unit, leaving you with nothing.
So how do you get a refund on your timeshare?
First, be honest and open with one of the timeshare representatives when you ask for information about getting out of your contract. You can say that you need more time to evaluate your decision or that you aren’t sure if you’ll use it enough to make it worth it.
Second, tell them that you are willing to pay whatever fee is necessary in order to get out of the contract. The amount of the fee can vary greatly from resort to resort, so there’s no way to know ahead of time how much money you may have to pay.
The third step would be to go ahead and sign up for trade-in privileges if they offer those services.
Timeshare ownership can seem like a good idea, until you realize that you’ve signed up for an expensive vacation package that you never use. If this happens to you, there are steps you can take to get your money back.
Trying to get a refund on a timeshare can be a daunting prospect. Timeshare companies are notorious for their tactics, including the dreaded “resort credit.” This is a fake credit used as a tactic to keep owners from asking for refunds. The resort credit might be worth $500 one year and $1,000 the next year. It’s not real money, but it’s enough of an inducement to keep owners from asking for refunds.
Timeshare contracts have many fine print clauses that allow the company to make changes as they see fit. A clause allowing the company to raise fees is common, as are those that allow them to leverage fees against the balance of any debt or other charges.
Many timeshare salespeople don’t mention these tactics in their sales pitches because they’re often employed after the fact. For example, if an owner requests a refund, the salesperson may tell him that he’ll need to pay $2,000 extra before being issued any refund at all. In addition to these tactics, some companies.
