For many people, all it takes is a single trip to Las Vegas to be hooked. One of the incredible things about this popular destination is the variety of entertainment opportunities that are all located within just a few miles of each other. Whether it’s the gambling, the shows and concerts, the sporting events, the dining, the nightlife, or a little bit of everything that you love, Las Vegas always delivers.
Given the endless things to do in and around Vegas, you might have found yourself at one point thinking that owning a timeshare in this city would be a great experience. Make no mistake, the salespeople trying to convince visitors to buy timeshares are everywhere, and you might have been approached in a casino or just out walking along The Strip. However it happened, if you own a timeshare in Las Vegas and would like to end that ownership as soon as possible, this page should be helpful.
It Might Not Be Too Late to Cancel
If you have just gotten home from a trip to Vegas, where you agreed to purchase a timeshare, you might now be having second thoughts. You’ve had some time to think a little more carefully about what timeshare ownership will mean, and now that you are away from the sales presentation, the whole experience doesn’t sound so appealing. Is it too late to get out of it and reverse what you have done?
Not necessarily. The state of Nevada offers a five-day cooling-off period that allows buyers of timeshares to cancel their purchase with no ramifications. So, you don’t have a lot of time, but if you’ve just signed the papers within the last couple of days and now want to reverse course, you will have legal standing to do so.
The next step is to contact the developer immediately. You don’t want to allow that five-day period to elapse and leave you stuck with a timeshare that you no longer want to own. The developer isn’t going to be thrilled with the change of heart, but they are legally required to honor your wishes within this time period. Keep a record of all interactions you have with the company during this time in case there are any disputes that come up later where they try to hold you to the purchase and don’t want to honor your cancelation.
Communicate with the Developer
If you are able to get back to the developer within the cooling-off period and ask to cancel your Las Vegas timeshare purchase, they’ll have to cooperate. After that, however, you are a legal owner and you won’t be able to get out of this situation so easily. That’s not to say that there is nothing you can do, however. As a first step, go ahead and reach out to the developer to see if they are willing to negotiate an end to your ownership experience.
In some cases, timeshare developers and resorts will have programs in place where people can give back their timeshares without any penalty, or for a small cost. There has been pressure to create these kinds of programs because so many people are dissatisfied with their experience and many just want to get out. Remember, the timeshare isn’t legally obligated to let you out at this point, and there is no guarantee that they will have anything to offer you in terms of an exit deal. All you can do is ask, and if nothing is available, you’ll then need to look into other possibilities.
Selling Timeshares is Hard, But Not Impossible
One of the reasons that so many people are trying to give their timeshares back to the developer is that they haven’t been able to sell the timeshare on the open market. Obviously, if you can sell your timeshare and get something back for it, that would be an ideal outcome. You’d recoup some of your initial investment that way, and you would be free from the ongoing maintenance fees and assessments.
As you can probably tell by now in this article, however, there aren’t a lot of people who want to buy a timeshare. The issues that come with timeshares are relatively well-known, and people are hesitant to get involved with something that could cost them a lot of money moving forward. With all of that said, it shouldn’t cost you anything to attempt to sell your timeshare, so it might be worth a try. Simply listing the timeshare for sale and seeing if anyone comes along with an interest in making a purchase won’t take up much of your time.
If you decide to give this a shot, consider listing your timeshare for just a single dollar (unless you know for some reason that the type of Las Vegas timeshare you own is appealing to buyers). The goal here, more than anything else, is to get away from the future costs you are going to incur with the timeshare. Even if you only get $1 on the sale, you will be able to hand over the legal obligation that comes with being an owner and you can start saving on those maintenance fees and assessments right away.
Don’t Rely on Trust in This Process
It’s a great thing to trust people in life, but there are times when it’s better to be a little more practical and cautious about how things might go. If you are discussing anything with your timeshare developer about getting out of your contract – or, really, changing anything about your contract – you don’t want to rely on trust. That’s not to say that the developer will be trying to cheat you or do something dishonest, but you simply don’t want to take any chances.
So, what does this mean? It’s critical to document everything that goes on between you and the developer or resort. So, if you email with a manager about canceling your ownership through an available program, for example, you need to keep all of those emails. In fact, you might want to consider printing them out just so you have another form of a copy. It’s not uncommon for the story that you get from a timeshare company to change from one person to the next within that company, and you don’t want those discrepancies to cause problems once you think you have a deal.
It’s also important to keep documentation after you have severed ties with your timeshare in Las Vegas. If a random bill shows up in the mail one day from the developer, you want to be able to prove that you are no longer an owner and are not responsible for the bill. Again, that’s not to say that something like this will certainly happen, it’s just to say that it could happen, and you are always better off playing it safe than being sorry later.
Help is Available
At times, it can feel like you are fighting an impossible battle when trying to deal with a large timeshare developer all on your own. They have a large team, including plenty of lawyers, and you don’t feel like you have a leg to stand on when trying to find a way out. If you are tired of taking on this battle on your own, consider getting some help to start to make progress and get a little closer to life as a non-timeshare owner once again.
Help is available in the form of timeshare exit companies. These companies, as the name would suggest, exist solely to help people find a way to get out of their timeshare contracts moving forward. It’s not always easy, but there are options that can be explored for those who reach out for help. Teaming up with a business that specializes in this kind of exit might be your best chance at finally moving past your Las Vegas timeshare.
It is important to note that not all of these timeshare exit companies can be trusted with your money. Some of them are excellent, and some are mostly trying to make a quick buck at the expense of people who are just frustrated enough with their timeshare to try anything. Of course, you want to make sure you are working with one of the good ones, and that starts by making sure they are going to use an escrow service to hold any money that you pay. Putting your money into escrow at the start – instead of directly into the pockets of the exit company – will provide you with some insurance and help you have recourse in case they don’t deliver as promised.
There Are So Many Ways to See Las Vegas
With more hotel rooms than any city in the world, you don’t need to own a timeshare in Las Vegas to enjoy Sin City. If you find yourself in a situation where you own a timeshare in Las Vegas and you’d rather not be burdened by that ownership any longer, we are here to help. Give us a call today at
833-416-8796
to learn more about your options and to figure out what next steps you are going to take. If you’d prefer, you can also get in touch with us via our live chat feature. It’s time to get the help you deserve!