How to Cancel Timeshare Within 5 Days? {Step-by-Step Guide} 

 How to Cancel Timeshare Within 5 Days? {Step-by-Step Guide} 

With the stunning amenities, impressive view, and high-quality property, you were wondering if you could stay at the vacation property forever. Then, a notorious sales representative came across your way with a sales pitch, and you bought a timeshare. You should have understood the cancellation terms when you signed the dotted line. 

You regret it, but it’s not too late. 

You can cancel your timeshare contract if you have recently bought one. The grace period is with you, so don’t fret. However, it’s time to hire a timeshare cancellation company if the recession has expired. If you don’t know about the recession, let’s delve deep to learn how to cancel your timeshare contract within five days. 

Know Your Recession Period 

Recession means rescinding a contract and returning the property to the developer included in the timeshare contract. The grace period is 5-7 days on average; however, it may be less or more as per the laws of your state. 

Check how much time is left by looking at your state’s laws. You can rescind a timeshare contract during the recession if you have changed your mind without much hassle. 

So, if you have purchased a timeshare property recently and are thinking of canceling it, you are in luck; cancel your timeshare using the powers of the recession period. To ensure you get a refund, return your timeshare property during that tenure. 

Canceling Your Timeshare During Recession 

So, you know you can eliminate timeshare contracts during the recession. You still need to learn how to do it. To cancel a timeshare during the recession, you need to inform your developer about your decision in writing.  

You must prepare a cancellation letter and send it to the seller. In general, a timeshare cancellation letter includes the following:- 

  • Current date 
  • Date of purchase 
  • Description of timeshare 
  • Timeshare company’s name 
  • Purchaser’s name as per the contract 
  • Purchaser’s address, phone number, email 
  • A clear statement about timeshare cancellation 

Though in some cases, you can orally inform your developer that you want to cancel your timeshare, it is best to write a timeshare cancellation letter. 

Reason Behind Your Decision 

Whether you are informing them about your decision in oral or written, they may ask you, “why are you canceling your timeshare?” 

It’s not necessary to disclose the reasons for your uninterest in the timeshare; instead, you can write them a clear statement like “I am writing this to inform you about my decision to cancel this timeshare during the recession.” 

In addition, you may mention a law concerning specific information about the recession in your timeshare cancellation letter. 

Delivering a Timeshare Cancellation Letter 

You might think there is nothing you are not aware of delivery of the timeshare cancellation letter. But you must deliver the letter through the proper method to get accepted. 

For instance, some resorts or developers may not accept a hands-on delivery of a timeshare cancellation letter. In this circumstance, you must send them a timeshare cancellation letter through certified mail. 

You must deliver the cancellation letter through a suitable method during the recession; otherwise, they may not count your cancellation. 

Final Verdict 

People who get the idea of canceling a timeshare during the recession are in luck. Those souls rid themselves of their timeshare contract without any difficulty. However, the recession period is usually only 5-7 days, so if you are in a recession period, ensure you act quickly and enjoy the perks. 

But if you are out of the recession period, fret not, as you can hire the best timeshare cancellation company to eliminate the timeshare and enjoy leading your life without burden.