How Much Does It Cost to Get Rid of Timeshare
How much do timeshare lawyers cost? This is a question we get a lot since starting helping people cancel their timeshares. In this article, we will cover anything you need to know about the topic and provide many useful tips.
Timeshares can be a great vacation option, but they are not for everyone. Most people have a friend or two with a nightmare story about a timeshare they just can't get out of no matter how hard they try.
Perhaps they listened to a presentation and were sold at the time about the amazing potential and flexibility a timeshare offered.
It was in all the right locations, looked amazing, and was easy to get to. The times fit with their schedule, and everything seemed like it was an ideal situation.
Then, for whatever reason, things changed, and the timeshare was no longer the best choice.
Maybe the family finances changed and there was a sudden need to cut expenses.
Some timeshare owners find that they can't justify the ongoing costs because they aren't using the timeshare as much as they'd anticipated.
Maybe they don't like the locations or find that they just don't want to travel as far.
People move into timeshares with the best of intentions, but let's face it, timeshares are notoriously difficult to get out of because they're often associated with pressure sales tactics and stipulations that are difficult to understand.
The people selling timeshares play on customers' emotions and present something as a dream opportunity. Reality sometimes doesn't match up.
How can you get out of a timeshare and what are the odds of success? Your chances of finding your way out of a complex contract often require the help of an expert timeshare lawyer, one who specializes in dealing with timeshare companies.
They bring specific experience and industry knowledge to bear on your situation to help you find a way out.
But how much do timeshare lawyers cost? Let's explore what a timeshare lawyer can do for you and what you can expect to spend.
How much do timeshare lawyers cost – What You Should Know as You Search
When timeshare owners start thinking about getting out of a contract, they need to weigh the costs of legal help with what they're paying out to the timeshare company.
Frequently, timeshares cost between $20,000 to $40,000 and even more depending on what you agreed to with the sales representative.
Add to that the annual fees, service fees, and other fees, and your costs are increasing year after year.
As your costs go up and you see more of your money going out the door, it's easy to get stressed.
We meet with a lot of people every year who deal with significant frustration because their calls for help or compromise with the timeshare company go unheard.
Every timeshare owner needs to understand what their options are when they want out.
Yes, even though timeshares are notoriously difficult to get out of, you do have options. Here are a few:
The Timeshare Resale Market – There is a timeshare resale market where people can pick up your contract and take on the obligation for you.
You will likely sell your timeshare contract at a significant loss, so you must understand the repercussions of going on the resale market.
Do some research beforehand to find out what your timeshare will realistically fetch for you and decide whether it's your best option.
Rent It Out – Some timeshares restrict owners from renting it out on third-party rental sites, so you need to read the fine print in your contract to find out whether this is even possible in your situation.
Next, you should scan the area your timeshare has locations in to see what it will earn per night if you rent it out to vacationers.
Keep in mind that you also could be responsible for things like cleaning fees and registration fees on certain rental websites that will cut into any money you'll be making.
Hire a Timeshare Lawyer – If these other two options aren't attractive, then you only have seeking legal help left as a viable option.
Hiring a legal team to negotiate contract withdrawal will cost some money, but most of the time the value of peace of mind and finally getting out of a damaging contract is worth what you'll pay to a successful timeshare law firm.
They will have a lot of private insight into how timeshare companies operate and what they're capable of doing to leverage in your situation.
Hiring the Right Timeshare Legal Team
Lawyers, no matter what their specialty, are all different. They bring different experience, understanding, communication skills, and other abilities depending on their track record.
If you feel like you've been duped into a contract, or that your timeshare company is being unreasonable, then you need to find a timeshare lawyer who will advocate effectively on your behalf.
Here are some things you should look for in a timeshare attorney:
- Responsiveness – Most of all, you want to feel like you're being kept in the loop when it comes to developments in your case.
People who hire lawyers want immediate action, or at least to know what's going on and what to expect.
The right timeshare lawyer will give you a point of contact at the firm and be upfront with you about expectations and timelines.
- Free Consultation – Legal help costs money, but the best lawyers will talk to you for free to see if they can help your situation.
Find a team that will speak to you for free and let you know what your chances are.
Some lawyers base their compensation on how successful they are in negotiating your contract, so they'll only take on clients they feel have a legitimate shot at getting out of a contract.
You'll also know if they are a good personality fit with you.
- They Give You Realistic Options – When you're stuck in an oppressive timeshare contract, it's important to have some rough idea of what the potential outcomes are.
Good lawyers set realistic expectations and will talk to you about things like timelines, your costs, and other specifics so you don't feel like you're up in the air about what's going on.
- Positive Reviews – Look online to see what sort of reviews legal teams you are considering have.
These days, it's easier than ever to examine a firm's track record and see what kind of outcomes they were able to deliver for other clients.
Go with someone who has a good track record. Don't be fooled by extremely low prices or over-promising. Sometimes what sounds too good to be true is.
With the right legal team in place, you're ready to take on your onerous contract.
How Much Does a Timeshare Lawyer Cost?
The big question on everyone's mind is how much will a timeshare lawyer cost me?
It's a legit question, especially when you're weighing it against the monthly or annual costs of owning the timeshare.
Here's some insight into costs and what to expect.
On average, the cost of professional cancellation services is around $4,000. This typically gets you a team that will work with your timeshare company on a settlement or manages the resale process for you.
It's worth stating here that this is an average cost based on industry reports and is not indicative of what you'll pay.
Here are some things you should consider around costs when you're hiring a timeshare lawyer.
- How They Charge – Does the team you're interviewing charge a flat fee, or do they bill by the hour?
That will have an impact on how much you pay because if your situation is particularly complex, hourly rates may push your bill even higher.
- Money-Back Guarantees – Some companies offer money-back guarantees around timeshare contract exits.
This can be a good option because the team will be dedicated to your interests and only participate in the upside.
However, be careful that you fully understand how these guarantees work.
These are rarer in the industry, and there are relatively few companies who offer to work for you for free.
- Custom Price – Expert firms will want to find out about your situation before throwing a price your way.
That's because they've worked in the industry long enough to understand how much time they'll spend on your case and what the odds of success are.
Beware any company that throws out immediate quotes and talks about how they'll beat the competition without knowing what's involved.
Spend some time talking to the timeshare lawyer who wants to know the details of your contract before getting into the price.
Your Peace of Mind
What is your peace of mind worth? The amount people are willing to spend on a timeshare lawyer ranges based on how much stress the situation is causing them.
Even if fees are a bit higher for an expert attorney, you may end up saving more because your quality of life will be improved drastically once you're out of the contract.
Consider what your time and worry are worth and build that into your hiring decision as well.
The right timeshare lawyer will be there to support you, help you know what to expect, and keep open communication throughout the process.
How Much Does It Cost to Get Rid of Timeshare
Source: https://pmanagementgroup.com/how-much-do-timeshare-lawyers-cost/