Getting out of a timeshare contract in Florida is tricky but not impossible. The first step is to do your research to learn what your options are. The fact that you are reading this article means you are taking that step right now. Read on to learn what you need to know about getting out of a timeshare contract in Florida with the help of an experienced Florida Real Estate Lawyer.
Getting Out of a Timeshare Contract in Florida – Your Options
The first thing you need to know is that purchasing a timeshare only to realize that it is not as good as you thought it would be shortly after is not something that has only happened to you. It is very common for this to occur, which means you are not alone, and there are proven strategies you can use to resolve your issue. However, the longer you wait to try to get out of your timeshare, the more complex the process will become.
The easiest way to get out of a timeshare contract in Florida is to cancel it. However, this option is only available for 10 days after signing the contract. Under Florida law, owners of new timeshares have 10 calendar days to cancel their contract and receive a full refund. This is done by sending a cancellation letter to the timeshare company.
If there is still time to cancel your timeshare contract, then you will need to write a cancellation letter that includes your full name, address, phone number, email address, the timeshare company’s name, a description of the timeshare in question, and the date on which you made the purchase, in addition to a statement in which you inform the timeshare company that you intend to cancel the contract.
Technically, you can write a cancellation letter on your own; however, since this document needs to comply with Florida law to be valid, it is best to let an experienced Florida Real Estate Attorney, like me, do it for you. I can ensure full legal compliance and, most importantly, ensure that no mistakes are made during the cancellation process.
If the rescission period has ended, however, things will likely get a little more complicated. If more than 10 days have passed since you made the purchase, you have two main options: 1) convince the timeshare company to simply release you from the agreement, or 2) sell your timeshare. As you might imagine, the first option is far easier than the second one; however, it may not be available, as the timeshare company can simply not agree to release you from the agreement.
That would leave you with option number two: selling your timeshare, which is not impossible to do; however, it can be incredibly difficult to find a buyer. Timeshares are not like traditional real estate investments, as they can lose up to 90% of their value immediately after being purchased. This is an unfortunate reality in this industry, and it is important to be aware of this before committing to a timeshare purchase.
Although some timeshares do retain at least some of their value, no timeshare owner should expect to sell their timeshare for more than what they originally paid for it. In other words, if more than 10 days have passed since you purchased your timeshare, getting your money back is more than likely off the table, and you should focus on getting as much as you can and remember that no matter how little money you get back, it is better than nothing.
Do You Need Help Getting Out of a Timeshare Contract in Florida? Get in Touch Today!
If you are still confused and simply do not know what to do, that is perfectly fine. The information above is not meant to turn you into a timeshare exit expert in a few minutes; it is merely a brief exploration of the available options. If you have a timeshare contract you need to get out of, now that you know roughly what the process will be like, the next step is to get help from a professional, ideally an experienced Florida Real Estate Lawyer.
I can be that lawyer. I can help you find the best strategy for getting out of your timeshare contract as well as ensure you get as much of your money back as possible. All you need to do is get in touch. You can call me at (305) 921-0976, email me at [email protected], or WhatsApp me at +1 (305) 396-8094.