Without a doubt, Florida is one of the best locations in the entire United States – and maybe even the world – to take a vacation. No matter what it is that you like to do, there is a good chance that you can find it in Florida. With warm weather and sunshine, countless beaches, theme parks, golf courses, and on and on, no one should be bored on a trip here.
With that said, owning a timeshare in Florida might not be all that you expected. Timeshare ownership can feel expensive and restrictive, so you might feel like you are ready to get out of your existing contract and move on. Doing so can be notoriously tricky, but it’s not necessarily impossible. On this page, I’ll highlight some strategies that you may want to explore to get rid of your Florida timeshare as soon as possible.
If You Just Made the Purchase, Cancel Now
The recission period is the best time to get out of a timeshare purchase. For many of the people reading this page, it’s already too late for that – but let’s go over it just in case it still applies to you. In the state of Florida, the recission period for a timeshare purchase is 10 days. If you send a cancellation letter to the timeshare company within 10 days of making the purchase, they have no choice but to allow you to cancel and move on. It’s the law.
The documents that you received when purchasing your timeshare should have information on the recission period and how it can be used. Why is it so important to take advantage of this window if it is still open? Everything about canceling a timeshare is going to get much more difficult after the calendar tips over to the 11th day. Should you happen to be reading this while there is still time left in this period, don’t delay and execute your cancelation as soon as possible. You can always buy into a timeshare later if you so choose, but at least you will have avoided being trapped in a contract that you could later come to regret.
The Possibility of Executing a Sale
There is no doubt that timeshares in Florida are desirable to many people. We already talked in the introduction about how many things there are to do in Florida, and just how wonderful the weather is throughout most of the year. So, with that in mind, you could be excused for thinking that selling a timeshare in Florida would be no problem at all. Unfortunately, that is rarely the case.
Often, it’s nearly impossible to sell a timeshare, even in a desirable location like Florida. The problem is that the same things you don’t like about owning a timeshare – the cost, the lack of flexibility, the long-term commitment – are the same things that other people don’t want to take on. So, even if you do find a willing buyer, it’s unlikely that you will find anyone who wants to pay you much money at all for the purchase. In fact, they might offer you just a single dollar, which could still be a deal worth taking.
If you decide to attempt to sell your timeshare, list it in a few places online and wait to see if you hear anything back. You can go ahead and continue to explore some other options to get out as you work on the potential sale since it’s not particularly likely that you will find a buyer in the end.
Try Giving Back Your Timeshare
Depending on what timeshare you own in Florida, the developer might offer to simply take back the timeshare, so you can move on right away. This would be an excellent outcome should it come to pass. On the downside, you won’t get any money for it, but that probably wasn’t going to happen anyway. The big benefit of giving back your timeshare is that you won’t have to fuss with it any longer or make any more maintenance fee payments. You’ll be done as soon as the transaction is completed, and you can move on with a clear mind.
To find out if such a program is available, all you need to do is reach out directly to the timeshare developer and ask if they have an active “deed back” program. If they say yes, ask what you need to do to take advantage of that program. If they say no, set a reminder on your calendar and try again in the near future. You can keep checking in with them periodically until something becomes available or you find another way to effectively get rid of the timeshare.
Have as Much Documentation as Possible
While it might feel like kind of a hassle, one of the best things you can do when getting rid of a Florida timeshare is to keep as much documentation as possible throughout the whole process. For example, any communication that you have with the developer should be saved – if these are emails, that will be easy enough to do just by setting up a folder in your email inbox. For physical letters, set aside a file in your office and keep them there.
You should do this even if you trust the developer of the timeshare to play fair and not try to take advantage of you. The whole point is simply to have what you need on hand in case there is any dispute or miscommunication regarding what is going on with your timeshare and your efforts to cancel. If they offer you a way out at one point, only to say something different later on, you want to be able to point to the communication you received as proof of the offer you were made. Even once you manage to get out of your timeshare, go ahead and hold onto these documents for years as a backup just to prevent a surprise situation where they claim that you are still an owner or owe money for some reason.
A Timeshare Exit Company Could Be the Solution
By the time you have explored some other options and still can’t get out of your timeshare in Florida, you will probably be feeling pretty frustrated. I understand that emotion, as it doesn’t seem fair that you have this thing that you no longer want to own but can’t get away from. You feel trapped and like you don’t have any power in the situation.
Fortunately, you might be able to get help from something known as a timeshare exit company. So many people feel stuck in their timeshares that an entire industry has popped up around the task of getting them out successfully. You can reach out to some of these companies to explain your situation and see if they are going to be able to help you out.
One thing to know about the timeshare exit industry is that not all of the players in this industry are going to treat you fairly. You’ll need to watch out for yourself right from the start, including by making sure they put your money in escrow rather than just taking it upfront. You want them to have to work for the money they earn and actually deliver results. Escrow services offer a layer of protection and make it more likely that you’ll get what you paid for in the end.
Frequently Asked Questions
Still have other questions about the process of canceling a timeshare in Florida? If there is more you want to know that we haven’t answered yet, so might find those topics addressed below.
Q: Are all timeshares in Florida a bad idea?
A: It’s not so much about Florida timeshares being “good” or “bad” as it is finding the right fit for your situation. If a timeshare no longer fits your lifestyle, finding a way out will make a lot of sense.
Q: Should I stop paying on my timeshare?
A: Probably not, as this is a move that comes along with serious credit damage and even the possibility of a lawsuit. It’s best to keep making your payments while trying to find a way to cancel properly.
Q: Should I rent my timeshare to make money?
A: Renting out your timeshare doesn’t offer the same relief as successfully getting out completely, but it can be a good alternative. This will allow you to bring in some revenue while you explore ways to eventually get out.
Reach Out Now to Learn More
Like many other things, one of the best ways to successfully exit a timeshare is to learn as much about the process as possible. Now that you have reviewed this page, take a moment to call us at 833-416-8796 to get answers to specific questions you may have in mind. It’s also possible to use our live chat feature to get more information. Thank you for stopping by and good luck!