If you are somebody who is interested in cancelling your timeshare contract, you should do it so immediately. You may end up having buyers remorse, and that is why, you might want to cancel the timeshare contract.
When you end up purchasing a timeshare, and when you enter into a contract, you are purchasing a piece of real estate and most often, it would be a resort condominium. The timeshare sellers are very notorious for putting in some contracts in the timeshare deal so that it is very hard for you to get out of it. That is why, if you want to cancel it, you need to be quick about it. Here are some necessary steps that you need to follow.
Because of the entire nature of the timeshare selling experience, most of the states in the United States of America have actually put in laws that would allow the timeshare purchasers to cancel their contract immediately, if they act quickly. This would also mean that they have entered into a timeshare contract, and it would mean that they are having second thoughts.
You need to make sure that you act within the cancellation period. Make sure that the contract clearly states the number of days where you will have to resend the contract. If it does not, and if you think if the contact is wrong, you need to check the law in your state when it comes to timeshare contracts. You need to abide by it.
For example, if you have passed the cancellation period, you will have to contact the contractor.
You should make sure that you put in a cancellation in writing. Usually, you must be cancelling the contract in writing. Even if a written letter or even if the document is not required, it is highly recommended that you do so. Include the following information in this particular cancellation letter.
1. Make sure that your name appears on the contract.
2. The contract must have your phone number, your email address and your home address.
3. It must have the name of the timeshare company and association.
4. It must be possessing a description of the timeshare.
5. It must have the date of purchase.
6. It must have a statement that you are sending the contract.
7. You must be clear that you want a cancellation.
In a lot of cases, your contract should specify the manner in which you must deliver the cancellation letter. Sometimes, you can actually hand deliver the cancellation notice, in other times, you can just mail it to them.
In a lot of states, and in limited circumstances, you will be able to cancel your timeshare contact after the recession period. This may end up bringing a lawsuit against the timeshare company. We need to contact a real estate attorney for some legal advice.