The American Resort Development Association (ARDA) states that more than nine million Americans own timeshare properties. These homes are vacation spaces where owners travel with their families each summer for enjoyment and fun. While acquiring these properties is positive, priorities change over time.
If you own timeshares and want to get rid of them, perhaps you are looking for alternatives. Selling may be an option; although the high competition in the market often complicates it, timeshare exit companies with escrow may be a great idea.
Who can help me get out of a timeshare?
Timeshare exit companies are entities that help owners exit or cancel timeshare properties. In some cases, attorneys are assigned to work through the legal process, while others allow you to sell the unwanted home.
Choosing the right exit company is imperative because each varies according to its characteristics. Some of them work only with those who have mortgages, while others focus on resale through timeshare exit attorneys. For example, if you have a home that is paid in full, you will want a different firm than those with mortgage debt.
In either case, getting out of a timeshare property has only one thing in common: it is expensive.
Why is it so hard to get out of a timeshare contract?
Many people who own a timeshare regret it later. These vacation properties tend to squeeze owners and have complicated schedules, so you can rarely use them when you want to. There are many reasons to get out of the contract, but these reasons make it complicated:
- Lots of paperwork: If you bought one, you know there is endless paperwork. This is to protect the resorts and make it difficult for holders to get out
- Few buyers: In the market, few buyers are willing to buy the timeshare you don’t want; and if someone wants to buy, they will most likely want to buy a new one
- Financial reasons: Resorts impose a down payment for a timeshare through a credit card, which is never a good decision. Getting out of it will skyrocket interest rates and cost more time to pay off
Five best timeshare companies with Escrow
If opting for a timeshare company is an option for you, there are plenty of alternatives in the market. As we explained previously, not all companies are focused on the same types of properties; it’s important to focus on those that address your situation.
If you are afraid of scams, we did the work for you. We thoroughly reviewed current companies and compared their services and customer reviews. We listed five of the most important details you should consider:
Company One: Newton Group
Newton Group is considered the longest-running timeshare liquidation company in the United States. With more than 18 years in the market, the organization offers multiple options to get its clients out of timeshare contracts.
The entity works on a flat fee basis and establishes dual services that include legal representation in conjunction with the exit process. This combined strategy allows the client to cover all sides of the problem and offer a faster and less costly exit. Most of their clients rated their experience with the company as positive.
If you are interested in hiring their services, Newton Group provides a free consulting service for the first call. In this conversation, you can present your case to the lawyers, who will advise you by calling 877-255-6055.
Company Two: Wesley Financial Group
Wesley Financial Group is one of the largest and most important companies in the United States. Clients trust it because of its large size and financial backing. It is imposing enough to deal with any problem.
The company does not have an escrow payment option but a money-back guarantee. Unlike Newton Group, Wesley Financial Group does not use lawyers to cancel the contract but has a proprietary method. In this way, they have gotten thousands of clients out of contracts without paying the costly fees of a legal team.
The company can refund part or all of the timeshare purchase price. If you have a property with mortgage debt, the company gives you a free consultation to advise you on the process steps.
Company three: Timeshare Specialists
The company called Timeshare Specialists has been in business for over 15 years. It is located in Montana and offers several exit strategies from the contract, including selling the property.
One of the highlights of this third option is that they set a fixed time to get the client out of the contract. According to their website, interested parties are released from these obligations eight to 12 weeks from contracting for services.
Timeshare Specialists has no upfront payments and works with a security deposit. The company fulfills the payment after the transfer documentation is completed. This company cannot help you if you have a current mortgage or owe maintenance fees.
Company Four: Seaside Consultants
Based in California, Seaside Consultants is another top-rated company. Like the third option, this organization has an escrow payment alternative in which you don’t pay in full until the contract has been canceled.
It has been on the market since 2014 and, like the rest, has free advice for owners to make the ideal decision away from deception and misinformation. Each client is assisted by a lawyer who accompanies them throughout the process. With an estimated time between eight to 12 months, they promise to get those who hire their services out of the contract.
Company Five: Timeshare Compliance
Based in Aliso Viejo, California, Timeshare Compliance offers a service that takes 24 months to cancel a timeshare contract. Although this figure is on their website, they estimate that the standard process takes less time.
On the Timeshare Compliance website, there is a calculator you can use to determine how much money you can save based on how long your process takes. It has a satisfaction guarantee and deposit alternative available. Free advice is also general.
- Newton Group
- Wesley Financial Group
- Timeshare Specialists
- Seaside Consultants
- Timeshare Compliance
- American Resort Development Association (ARDA)