Low Cost and Legal Ways to Get Out of a Timeshare | Pacaso Learn Listings Agents Contact $ USD Tips and advice Tips and advice Inspiring homes Data and research Testimonials Top destinations Co-ownership basics How to get out of a timeshare, legally and with minimal cost Published Date: August 25, 2022 It seemed like such a good idea at the time — a yearly vacation in a resort you love at a relatively low price. But at some point, you may realize your timeshare has you trapped.A whopping 85% of timeshare buyers regret their purchase, according to a University of Central Florida study. Owners cite expense, maintenance fees, intimidation and lack of use. Whether regret sets in immediately or slowly sinks in over the years, timeshares are notoriously difficult to sell. How to get out of a timeshare Some desperate owners have resorted to unwise ways to get out of their commitment, things like renting their unit (not allowed by most companies) and stopping payments (a hit on the owner’s credit score). But there are a few ways to get out safely and legally.1. When in doubt, act swiftlyIf your buyer’s remorse is immediate, there is usually a rescission period — a short window of time to change your mind and walk away without incurring a fee. It varies state by state (where the timeshare is located, not where you live), but it's usually between three and 15 days.2. Buy-back programsIn rare cases, the timeshare company will buy your timeshare back, but it’s unlikely you will recoup what you paid. In 2018, buyers paid an average of $21,455 per timeshare interval with an average annual maintenance fee of $1,000, which increases at an annual rate of 5%, according to the American Resort Development Association. If you are lucky enough to find a buyer, you can expect to sell for a fraction of the purchase price.3. Try to sell it outrightFirst check if your purchase agreement allows you to sell directly to a new owner. If your timeshare unit is eligible for resale, you can list it online, but beware of companies that charge big fees to list on an “exclusive” website. And it’s usually a good idea to consult your attorney. They can explain how to get out of the timeshare legally and without excessive cost.4. Ask for help from a professional exit companyThis one comes with a caveat: Make sure it’s a reputable company. Do your research (check business review sites or verified customer reviews) and find an organization with a proven track record of helping timeshare owners. Many resellers prey on the uninformed or vulnerable by taking money up front and then failing to deliver on the resale they promised. Why getting out of a timeshare is so difficult On top of the many hurdles mentioned above, supply and demand factors into why it’s tough to sell a timeshare. For example, a two-bedroom water view unit at a resort is not unique. There could be hundreds of identical units listed for sale at the same time. This creates a flooded resale market for sellers. “The fact is, there are far more timeshares than people who want to buy them. If you’re in the desert and everyone’s thirsty, and there are only a few waters available, there’s a lot of demand for that product,” said Austin Allison, Pacaso founder and CEO. “But if you go somewhere that has a ton of water stands lining the street, buyers aren’t interested. That’s the real problem with timeshare resale.” Pacaso is fundamentally different Unlike timeshares that provide a pre-paid vacation unit that’s painfully difficult to get out of, Pacaso is true property ownership of a spectacular single-family second home. Using a proven LLC co-ownership model, the purchase process is familiar to any home buyer and the resale process is transparent and streamlined. If you’re thinking about your getaway options, consider a fundamentally different approach. Pacaso offers a modern way to co-own a second home. Ashley Rappa Author Share this post: Experience Pacaso homes Tour our epic second homes in over 40 world-class destinations — virtually or in person. Open house ᐧ Today Available now Escondido $2,232,000 1/8 Ownership Malibu, CA 7 BD 11 BA Open house ᐧ Today Available now Windmill Palms $717,000 1/8 Ownership Marco Island, FL 4 BD 4 BA Open house ᐧ Fri Sep 30 Available now Avalon $907,000 1/8 Ownership Avalon, NJ 6 BD 8 BA Featured articles ByPacaso Read ByAshley Rappa Read Don't miss out The best properties sell fast. See the latest listings, inspiring holiday homes and buying tips. Email Select one of the following I am a buyer I am a seller I'm an agent or broker Subscribe I give Pacaso permission to contact me & agree to the terms. This site is protected by reCAPTCHA and the Google privacy policy & terms of service. Want to chat? Contact us. Sign up, get more Unlock exclusive features & receive updates Email Unlock Offerings Learn Listings Collections Destinations Scheduling Financing Closing Selling About Our story Design Certified homes Agents Careers Get the inside story Press Communities Pacaso Swag Store Support Resources FAQs Terms Privacy| Cookie Settings Candidate Privacy Sitemap Contact TREC: Consumer Protection Notice, NY SOP California DRE #02139624 2021 Fillmore St. Suite 183, San Francisco, CA 94115 USA ©2020 Pacaso. All Rights Reserved Sign Up / Sign In Discover Home Learn Listings Collections Destinations Access More Favourites Agents Selling Blog Our story Careers Press Communities Support FAQs Contact Us