5 Takeaways That I Learned About Contracts
Is it Possible to Do a Timeshare Cancellation?
For the past few years, there are several timeshare developers that have experienced significant growth of facilities worldwide. Few of this growth were because of great business practice and generosity throughout their facilities. However, we can’t deny the fact as well that the aggressive marketing tactics of timeshare sales representatives have contributed a lot to this growth.
On the other hand, there are people who have purchased timeshare and decided later on that it isn’t for them or realize that it is a big expense for them to be a part owner of it. This puts them to request for a timeshare cancellation.
As for timeshare cancellation, it is basically the process of deeding timeshare back to the developers based on the discrepancies in the contract as well as the sales process associated with timeshare contract. There are instances as well that the consumer can recover all or part of the losses incurred in timeshare. On the other hand, given the fact that timeshare cancellation is largely based on discrepancy particularly in sales process, the timeshare sales representative should have done something wrong first to be able to qualify for the cancellation. In reality, there are around 52 laws that do regulate the sale of timeshare to Americans.
There are many different ways that timeshare contract could be cancelled and this is through:
Number 1. Learn about what the contract is about – first things first, you should check the contract for clause which says about rescission period. As you submit your rescission request, it will be smart to look for details concerning the deadline of contract. Then, you should make a note of rescission deadline immediately and the instruction on how you like to cancel the timeshare contract.
Number 2. Write a cancellation letter – so, after knowing the info that you need from the contract, the next thing that you should do is to make a certified letter that is stipulating you want to cancel the contract. Remember that you’re not bound to explain your side thoroughly so make it short and concise. What’s important is that, they know that you’re just exercising your right to rescind the contract by terms of agreement. In cancellation letter, make sure that you’ve included your contact details, name and the date of purchase otherwise, it would not be valid.
Number 3. Send the rescission letter prior to the deadline – keep in mind that your letter would become useless if you won’t be able to submit it before the deadline; when such thing happens, don’t expect that your cancellation will be granted. So to avoid these issues, it is best that you act fast.
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