Have you ever had that feeling of “Buyer’s Remorse”? On the surface you felt as if you had to have something you wanted, but deep down you knew you really didn’t want it or have to have it. Then you bought that item anyway. Later, you knew you paid too much for it, and when you really got down to it, it was something you didn’t want after all.
There is something like that in the timeshare industry. Buyers have a rescission period after they sign a timeshare contract that allows them to cancel the contract without paying penalties. Some companies only give you 3 days to think about your purchase, but many companies will give you about a week to rescind your purchase. A rare few offer up to 21 days. Check your contract for the number of days that you have for a rescission.
Cancellation of a timeshare contract normally requires that you make a written request to the timeshare resort (the party listed in the timeshare contract). If you come to the conclusion that you do not want the timeshare, prepare the written request right away.
It’s not enough to send the letter off and wait to hear something back. The most effective way to ensure the cancellation goes through is to personally deliver the cancellation request to the timeshare sales office. Take down names and as much contact information as possible. Write this information down.
A better idea is to bring two copies of the request and walk it through to get the required signatures. The signatures you will need to have are from the people in charge. Have that person(s) sign the copies as proof of acceptance and make sure you provide them with one of the copies.
Although hand delivering the letter is the best method, you can mail the cancellation letter. Don’t leave things to chance with standard mail. Use certified mail with return receipt. Keep the return receipt as proof of when you mailed the letter to the timeshare company. The receipt is also proof of when the letter was received. Get in the habit of using certified mail when communicating with any company officially, especially if you are dealing with cash. If you aren’t careful, the timeshare company can say that they never received your letter. Then you’ll have one of the worst cases of “Buyer’s Remorse” you ever had.
If you’ve followed all this advice and are still having problems, it may be time to contact an attorney.
This blog is not to be construed as legal advice. Please contact your attorney for specific information involving your case.
