Despite the fact that timeshare gives great vacation experience to its owner, it is believed to be quite expensive. It may be a lot smarter for the owners to have his or her timeshare contract cancelled with the economic downturn that we’re experiencing these days where nearly everyone is trying to cut on cost. With this, he/she can opt for a cheaper form of vacation or perhaps, make use of the money on more important matters.
On the other hand, if the owner had just purchased timeshare and decides to get rid of it, he or she might do so without forfeiting his or her initial payment by acquiring a rescission period. In the US, nearly all states have rule of rescission or the time period to which the buyer could change his/her mind and cancel sales contract without having to forfeit any money. However, you must be aware of the fact that rescission period varies from states.
First thing you have to do is to check the contract for clause saying something about the rescission period. Everything that you ought to know is discussed in the contract and when you are about to submits a rescission request, you might want to search for specific details concerning the contract’s deadline. Then, it is time to make note of the rescission deadline immediately as well as the instructions on how to cancel timeshare successfully.
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By the time that you have found the information you need from the contract, you should have certified letter stipulating that you wish to cancel your timeshare. Try making it short and also, take note that you don’t have to explain all. An important thing is, they know that you exercise your rights to rescind contract by terms of the agreement. You have to include your address, name, date of purchase and contract number in the cancellation letter. You have to request its return as soon as the deposit was taken. In other cases, the company will be giving you a form in order to make the process a lot simpler and you can take advantage of that.
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Above everything else, prior to the cancellation deadline of the timeshare contract, you have to send your rescission letter. With a certified letter, you can demand signed receipt indicating that they have to respond. In addition to that, try to make copies of all the documentation and make sure that it is postmarked prior to the deadline.
Apart from that, you have to make efforts in making copies of all documentation and see to it that it’s postmarked prior to the deadline. By doing so, you will be able to get proof that you’ve mailed it on time if ever there are some conflicts in the future.