If you think you have done a mistake, and that you took the decision too fast, you should think about cancelling your timeshare and getting your money back.
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A very important point is to react quickly. The faster you request a cancellation, the bigger your chances to get your money back. All US states have laws mentioning a time-period after a timeshare purchase when you can cancel your timeshare in a matter of minutes. This period usually lasts between 5 and 10 days after you signed the contract.
First thing to do is gather all the paperwork about your timeshare. Within the bunch of papers, contracts, and information provided by the sales rep, search the details about how to cancel your timeshare contract (this information is often at the very bottom of the contract, on the back of it, or on an attached document).
Once you find that information, follow exactly the process mentioned. In any cases, you must use the postal service. Don't believe these companies saying they accept timeshare cancellation by phone, email, or fax, this is only a trick, as this has no legal value. Even better, don't even call them, they may try to make you believe wrong So, send them either a certified or registered mail. You will absolutely need a receipt with a date stamp that will prove you sent the cancellation letter.
In some cases, you may find a form dedicated to timeshare cancellation in your contract. If so, simply complete it and then return it to the company. If there is no form, include the following information in your letter:
1. Your name - as written on the contract
2. The Contract Number
3. The Date of Purchase
4. Content: All you need to write is that you are cancelling or "rescinding" your contract, in conformity with the law of your state. You do not have to explains the reasons behind this cancellation. If you have done a down payment or if you paid cash the full amount, ask them to send them 100% of your money back. If you use financing solutions, make sure that they are also cancelled.
5. Sign your letter, date it.
6. Go to the post office and mail it by either registered or certified mail. Double check that the address is the one listed in your contract, not the sales center.
Here is an audio-visual slide show that quickly walks you through the steps.
