Millions of Americans own timeshares. In the current pandemic, a growing number of those timeshare owners are seeking a way out of their agreement. There are a few methods to timeshare exit that have proven successful in different scenarios. Timeshare transfer may be a viable option for some, whereas full timeshare cancellation (timeshare exit) is a better choice for others.
Resolution Timeshare Cancellation and Timeshare Specialists are two timeshare exit companies that may be able to get you out of your timeshare contract.
Resolution Timeshare Cancellation specializes in traditional timeshare exit through attorney.
Timeshare Specialists uses their over 15 years of experience in the timeshare industry to transfer timeshares to willing owners.
This article will discuss the pros and cons of both companies, and help you come to the decision of which would be better for your situation.
Resolution Timeshare Cancellation
Resolution Timeshare Cancellation is a newer timeshare exit company, they have only been in business since June of 2019. RTC is based in Orlando, FL, like many other timeshare exit companies.
Resolution Timeshare Cancellation’s site can be found here. One thing that definitely stands out about RTC is the fact they recommend contacting your resort prior to enlisting their help.
Not a lot of people know that timeshare exit through a resort is not as difficult as it may seem. Some resort developers have voluntary exit programs available for their timeshare owners.
Most timeshare exit companies choose to withhold that information. If you find your resort has a voluntary exit program, you will no longer need a timeshare exit company. Not a lot of timeshare exit companies are willing to miss out on the money they would get from clients who don’t know about their resorts’ exit program.
It is indicative of good business practices when a timeshare exit company is willing to be transparent about voluntary exit programs.
Resolution Timeshare Cancellation also offers a free consultation on their website, which you can access on their company website.
Escrow Payment Option
Another thing to note about Resolution Timeshare Cancellation is that they do offer a low up-front fee escrow payment option.
It’s important to work with a timeshare exit company that offers an escrow payment option. Escrow payment is a great way to protect yourself from potential scams.
When clients pay high upfront costs to a timeshare exit company, they are handing over financial control to the company. This puts you at risk for fraud. This is due to the fact that, hypothetically, an exit company can take your money and go out of business. The likelihood of clients getting their money back after this occurs is very low.
You can read more about the importance of escrow here.
RTC differs from the other timeshare exit companies in the sense that they let clients put 100% of the payment into escrow. This only requires a low upfront payment for customers.
Resolution Timeshare Cancellation Attorney
You can see on the RTC website that they do employ an attorney for their exit process.
As a matter of fact, they have employed the former New York attorney general, Myron G. Lasser to aid in timeshare exit. Working with an experienced and reputable attorney is the best way to get out of a timeshare. It bodes well for Resolution Timeshare Cancellation when you take into consideration the fact that they work with such a well-known and successful attorney.
When a timeshare exit company does employ an attorney, it’s important to take into consideration the ethics of the attorneys themselves. Many timeshare exit companies employ attorneys with shoddy pasts, so it’s important to research an attorney.
Resolution Timeshare Cancellation Costs
Something else that sets Resolution Timeshare Cancellation apart is the fact that they display the costs of their service on their website. This is different from a lot of other timeshare exit companies. Most exit companies require a consultation before they give you a quote.
For timeshare owners who do not owe a mortgage, RTC charges $2,500.
For timeshare owners who do still owe a mortgage, RTC charges $3,000.
These fees are actually very cheap compared to the rest of the industry.
Resolution Timeshare Cancellation in Conclusion
Resolution Timeshare Cancellation is a timeshare exit company that we can recommend with confidence. Their willingness to be transparent about their process bodes very well for their ethics.
RTC’s escrow payment plan, reputable attorney, and flat rate payment are all unique and impressive qualities.
Timeshare Specialists
Timeshare Specialists is a timeshare exit and resale company based in Montana.
Something important to note about Timeshare Specialists is that they also own Resort Closings Inc., which is a licensed escrow and closing company. While Timeshare Specialists has only been in business since 2012, Resort Closings Inc. has been in business since 2004.
Timeshare Specialists does have a unique exit strategy. Instead of using attorneys to get rid of your timeshare, they utilize their connections in the industry to leverage timeshare exits.
The benefit of this tactic is that it tends to be far less expensive than working with an exit company that employs attorneys. Additionally, your credit will not be negatively impacted if you work with Timeshare Specialists.
In short, Timeshare Specialists completes timeshare exit by finding a willing recipient to transfer your timeshare to. While timeshares are difficult to resell, it is much easier when you work with a transfer company that has a lot of connections.
It is also all about the ability to advertise timeshares, which is something Timeshare Specialists specializes is.
The only issue with working with a timeshare transfer company is the simple fact that not all timeshares are marketable. Some timeshares are simply impossible to sell.
Timeshare Transfer Qualification
Due to the fact that you are selling a timeshare to a willing receiver, you can not work with a timeshare resale company if:
- You still owe a mortgage on your timeshare.
- You’ve fallen behind on your maintenance fees.
- You own a timeshare from a resort or location that has proven to be difficult to sell in the past.
If you are able to catch up on maintenance fees and pay off your mortgage, Timeshare Specialists may be a great choice for your timeshare exit. You can contact Timeshare Specialists to find out if you may be able to sell your timeshare through them.
Timeshare Specialists Guaranteed Transfer Program
If you are accepted to Timeshare Specialists, they have a Guaranteed Transfer Program.
Timeshare Specialists contractually agrees that if you sign with them, they will find a new owner for your timeshare and you will no longer have to pay maintenance fees. This is a very impressive claim, seeing as the timeshare resale market is so difficult to navigate.
This truly sets Timeshare Specialists apart from other resale companies. Only a company with great ethics and high success rate would be okay with having this kind of guarantee in writing.
As a matter of fact, we are not aware of any other transfer companies that offer a similar guarantee program.
Timeshare Specialists Transfer Cost and Fees
Timeshare Specialists is another exit company that charges a flat fee based on how much it will cost to advertise the timeshare. According to the reviews, the average cost is about $2,000. Additionally, they only charge the clients after the timeshare has been legally transferred to a new owner.
That is definitely on the lower end, seeing as many resale companies will charge thousands of dollars for marketing.
Timeshare Specialists Reviews
Speaking of reviews, TS has a very impressive track record when it comes to past clients.
Currently, Timeshare Specialists has an A+ Rating on the Better Business Bureau (BBB) website. Not to mention, the company has zero complaints.
This definitely sets them apart from other exit companies, seeing as most exit companies have at least a few negative reviews online.
On the official company website, TS boasts positive testimonials from clients. Additionally, they have over 400 reviews on Trustpilot and Google.
Their glowing reviews across several different platforms proves Timeshare Specialist’s legitimacy in the exit industry.
In Conclusion… Timeshare Transfer VS Timeshare Exit
Whether a timeshare owner should pursue timeshare exit or timeshare transfer will depend on the specific scenario.
Timeshare exit companies are a good choice for those who still have a remaining mortgage on their timeshares, or those who have fallen behind on maintenance fees. Additionally, some timeshares are just too hard to sell – and so timeshare cancellation will need to be pursued instead.
Timeshare transfers are perfect for those with marketable timeshares. The biggest issue comes in when you take into consideration that a lot of timeshare owners struggle to keep up on payments. A timeshare has to be paid off in full before a legal transfer can be completed.
If you have more questions about timeshare exit and timeshare transfer, or if you’re not sure which one is right for you, you can fill out a contact form by navigating our homepage for more information.