How To Get Rid of a Timeshare

Описание: So I’m making this video for one person, My Grandpa. He bought a timeshare before air bnb existed, meaning a very long time ago. He bought in florida used it few times, and now his kinda over it obviously and hates paying for something he is not using. Now if you are watching this video, I’ll tell you about 5-7 different ways you can get out of time share.

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Chapter:
0:00 Intro
1:57 Talk to Horse
4:11 My Friend Said
5:03 This Applies to Around 3-5% of you watching right now
7:08 Sell it To Someone Else or Give it away
9:11 Exit Company
11:04 Stop Paying
12:38 Renting out Your Timeshare
13:52 Call an Attorney
16:12 Outro

1. Talk to Horse:
Talk to the developer or call and asked for the person in charge of “deed Backs” or “surrender”
It’s the easier way to get rid of the timeshare, they will accept back and it will usually be free
Just make sure your account isn’t delinquent or you have a loan balance ( but even if it is, it doesn’t hurt to call and say you are going through extreme financial problems )

1.1 My Friend Said
He says this one of the best businesses ever for the person who created it
Imagine developing a property and then selling the right to 52 people to stay their
And then charging an annual management fee ( and if they go or they don’t go you still get paid, it’s a great business )
But when ever a business is this skewed towards someone, that’s when you usually have all these problems

2. This Applies to Around 3-5% of you watching right now
If you just got this less than 72 hours-15days ago, you might be able to get out of this things super quick

Use the Recission Period
This is a basically a I change my mind period, usually ranges from 3 days to 15 depending on the state you live

Timeshare Cancellation Letter
If you are withing your right, right a cancellation letter and ship with usps certified mail so you can fully confirm you send it to them and they received it ( then also keep copies just incase )
Watch out for the fees

3. Sell it To Someone Else or Give it away
I have this funny story about the horse and farmer
Farmer has this stud of a horse, but on some days it limps
So he days to the vet, and the vet says sell it when its not limping and get rid of it fast ( people do this with cars )

Don’t Fall for the upgrades
Trade with other areas around the US for a few extra dollars
Upgrades and all of this other stuff ( don’t fall for it )

4. Exit Company ( you have to do your research )
If your wondering why you targeted in the mail
Its because it’s public information that you own a timeshare
So before you go with one company do your research

Tip: the most expensive way, and probable the last way you want to try

5. Stop Paying
To Go into Forcluser and force a surrender
To start negotiations
Or because you have no other no other option

Consequence:
Your credit is will be crushed
They will come after you with collection companies also

6. Renting out Your Timeshare
Usually not allowed so already in the red
And it takes one bad renti to mess things up and then boom
But some companies allow you to rent and also Airbnb will have them cover the damange ( so this can be something to do while your trying to get out of it )
Just don’t rent it without a service that can hold them liable for damages

7. Call an attorney ( also expensive )
But there are attorney that focus just on this space

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Disclosure & Educational Disclaimer:
Some links in this video may be affiliate links, and I may earn a commission. Content is educational and accurate as of posting; offers may change. I’m an accountant but not your accountant; always consult your own accountant/CPA or financial advisor. No income or results are guaranteed.