As one of the bigger names in travel, Sheraton Vacation Ownership is a system that includes countless timeshare owners. While many of them are certainly satisfied with their travel experience, some certainly want to get out and move on with other options. If you find yourself in that category and would like to figure out how to cancel your Sheraton timeshare, this page is here to help.
I have explained a few different options below for how you might be able to cancel your timeshare. To be sure, not all of these options will work for you, and it’s possible that you’ll make your way through this list and still be struggling to figure out how to proceed. Getting out of a timeshare isn’t always easy, but it’s usually possible if you get started right away and stick with it until the job is done.
What is a Sheraton Timeshare?
With a name like Sheraton, owners can feel good that they are going to have plenty of options for their travel. And that is indeed the case, with locations around the globe for travelers to enjoy. While anyone would be able to have a great time on a trip to these destinations, families tend to particularly enjoy everything that the Sheraton name has to offer, including benefits such as babysitting services for parents who could use a little peace and quiet.
Those who want to get out of their Sheraton timeshare typically aren’t doing it because they don’t like the destinations that are available or the properties they can visit. More commonly, it’s a move that you might want to make simply because you don’t like the expenses that come with owning a timeshare and you want to be free from the obligation. Maybe your kids have gotten older and you can no longer travel as often as you used to. Or perhaps the places you really want to visit always tend to be booked at the times you’d like to go. Whatever the case, canceling your timeshare successfully will give you more freedom to take vacations when and where you want, without the obligation of annual maintenance fees.
Canceling Immediately is a Great Opportunity
Did you know that it is possible to cancel a timeshare immediately after you agree to purchase it? This is due to a timeframe known as the recission period, something put in place by virtually every jurisdiction to help consumers who have second thoughts about their timeshare purchase. While the length of the recission period will vary from one place to another, it’s generally somewhere between five and seven business days.
All you have to do is notify the seller in writing that you want to cancel before the period is over. That’s it. They can’t stop you from canceling, and you’ll be able to get all of your money back and walk away. This is a legal right that can’t be waived away in the contract negotiations. Even if the seller tries to talk you out of it, you are able to use your rights in this case and don’t let them tell you otherwise. Of course, many – likely most – Sheraton timeshare owners aren’t going to still have the option of a recission period available. If you do, don’t take the opportunity for granted. This is the easiest path you’ll ever have to get out, so if there are any doubts in your mind, go ahead and cancel and thank yourself later for making this choice.
Could You Sell a Sheraton Timeshare to Get Out?
It is absolutely possible to sell a timeshare, whether it is a Sheraton timeshare or any other brand. As an owner, you can look for a buyer – whether it is someone you know or someone you find through a marketplace listing – and you can sell them the rights to your timeshare for an agreed-upon price. It’s a pretty simple process in the end, as long as you find a willing buyer.
That is, of course, the hard part. If you want to get out of your timeshare, you have to think that the reasons you want to leave are the same reasons that other people will be hesitant to jump in. There are probably potential buyers out there, but it could take a while to find them. I wouldn’t expect to get much money out of this sale, either. Given the modest demand for timeshares on the secondary market, you are probably going to have to agree to sell it for a very low price – maybe even $1 – if you can sell it at all. Remember, selling for even a single dollar can still be considered a win if you are able to get out of the contract and be free of your obligations moving forward.
Reach Out to Sheraton for Direct Assistance
Did you know that you might simply be able to cancel your Sheraton timeshare simply by reaching out to them and asking to leave? That might sound too easy, and it’s certainly not going to be an option for everyone, but I recommend that you at least give it a try to see what they say.
It’s not well known among timeshare owners, but sometimes, developers will have a “deed-back” program in place to take contracts back from owners who would like to leave. This has the convenient outcome of providing the developer with additional inventory that they can then sell to new buyers who will become owners in the system. It’s an effective way for them to generate revenue and it could be just the off-ramp you have been seeking.
These kinds of programs are not always available, to be sure, so you’ll want to be persistent and keep following up until you find a time when this is a possibility. Of course, that time might not come, but it’s easy enough to check in periodically through a phone call or email. Always be polite when you contact the developer directly, as you’ll get more help that way – and be sure to document your conversations and discussions so you can prove them later, if necessary.
Learning About Timeshare Exit Companies
Given the large volume of unhappy timeshare owners that exist in the market today, it was an inevitable outcome that some companies were going to pop up with the sole purpose of helping those owners get out of their timeshares once and for all. If you are just now learning about timeshare exit companies, they might have just what you need to take this burden off of your shoulders and finally see a light at the end of the tunnel.
It’s not all sunshine and roses with exit companies, however. As with all industries, there are some great companies in this space – and there are some that you should avoid. For starters, don’t work with any exit company that is just getting started and can’t prove their ability to do the job. Also, make sure they are willing to put your money in escrow while they work. This is a layer of protection that keeps them from just running away with the money you put on the table for this project. You’ve already spent enough on your timeshare you don’t need to lose any more by paying an exit company that isn’t going to be able to deliver.
Frequently Asked Questions
Canceling a Sheraton timeshare could be rather easy, or it might prove to be quite complicated. Review these common questions to see if any apply to your situation.
Q: What are the benefits of canceling a timeshare?
A: As soon as you cancel your timeshare, you’ll be able to start enjoying the benefit of saving money year after year. There is also a sense of freedom that comes from knowing you can travel wherever you want, and you won’t feel tied or obligated to go to specific places. Q: Does canceling a timeshare hurt my credit? A: Not if it is done correctly. As long as you properly get out of the timeshare through one of the methods discussed, you shouldn’t see any harm to your credit.
Q: Will canceling my Sheraton timeshare take a long time?
A: It could, but that’s not necessarily what you will experience. Every case is different, and it’s best not to worry about the overall timeline – simply focus on trying to make progress and hopefully it will be done sooner rather than later.
Look Forward to New Experiences
If the time is right for you to attempt to leave your Sheraton timeshare, I encourage you to contact us today at 833-416-8796 . You can give us a quick call to learn more about how this project can be approached, or you might want to use the live chat feature here on the site for more information. Either way, you’ll be taking a big step towards moving on from your timeshare and opening up new opportunities for the future. Good luck!