People wish to sell their timeshares for a variety of reasons. One typical factor is financial stress. Timeshares can have hefty upfront prices and monthly maintenance fees, adding to major financial hardships. Furthermore, consumers may discover that they are not utilising their timeshares as often as they imagined, making the costs appear to be a waste.
Another factor is the need for more flexibility. Timeshares restrict owners’ vacation options by locking them in specified dates and places. This might annoy folks who love flexibility or wish to see new places.
People may sell their timeshares due to servicing or management difficulties. Some timeshare owners would like more services and extras offered by the timeshare corporation.
Finally, changes in one’s personal life, such as health problems or lifestyle changes, may make it difficult to continue utilising a timeshare.
Getting rid of your timeshare can be a nightmare if you’re not careful. The process of exiting one can vary depending on your type of ownership, whether it’s paid in full, and your timeshare’s location.
Do you want to know how to get out of Worldmark timeshare? Well, you’ve come to the right place. Our team helps timeshare owners find the best solution for getting rid of their timeshares.
- Reselling your timeshare.
- Transfer or give away your timeshare.
- Rent out your timeshare.
- Work with a timeshare exit company.
- Negotiate with Worldmark Resorts.
- Consult with a legal attorney.
So whether you want to sell a Worldmark timeshare or just get rid of it, know you have options. Continue reading to learn more about how to get out of a Worldmark Timeshare. Or you can initiate a Live Chat to learn more through a free personalised consultation. We can help you find the best solution for your timeshare situation.
What is Worldmark?
If you’ve heard of Worldmark, you’ve probably heard of Wyndham. But do they mean the same thing? Or who exactly owns who?
- We can begin with Worldmark being one of 20 vacation brands created under the ownership of Wyndham Destinations. In addition, Worldmark timeshare owners get different perks than other owners do. Why Is that?
- Originally known as Wyndham Worldwide, the company is still one of the world’s largest vacation ownership companies. And with a flexible system to travel to more than 7,100 properties in over 100 countries, this provides credibility.
- In addition, nearly 1 million owners take advantage of this exchange network each year.
- Wyndham created Worldmark in 1989 to accommodate their timeshare owner’s lifestyle changes.
- Eventually, Worldmark credits were designed to provide a vacation currency owners could use to spend annually. The Wyndham family has made it clear they are an elite vacation ownership company.
Individuals can buy the right to use holiday homes at a network of lodges and estates in various locations through Worldmark. This is how it typically works:
- Individuals purchase WorldMark points, which indicate ownership in the rewards system. The quantity of points you buy defines your level of access and freedom in the WorldMark system.
- WorldMark has a large network of vacation rental properties in famous holiday areas. Owners may use their points to arrange stays at these hotels for a set time, ranging from just a few nights to a few weeks.
- One of WorldMark’s benefits is its adaptability. Based on availability and point balance, owners may use their points to book holidays at various resorts, in various unit sizes, and at various periods of the year.
- WorldMark owners can also use exchange programs like RCI (Resort Condominiums International) or Interval International to transfer their WorldMark points for stays at resorts not part of the WorldMark network.
- Owners must pay yearly service fees to support the resorts’ upkeep and running costs. These fees, distinct from the initial purchase price, may grow over time.
WorldMark’s goal is to allow its members to enjoy vacation getaways in various places while also giving them choices in how and when they use their timeshare ownership. However, because timeshare ownership might come with financial obligations and restrictions, it’s important to read and comprehend the conditions of your WorldMark contract properly.
- Most states in America grant you the right to “rescind” your timeshare purchase within a certain number of days. Typically, this small cancellation window begins immediately after purchase.
- If you recently purchased a Worldmark timeshare, you must act fast! An average rescission period can last 3-14 days, sometimes even 30 days. But it all depends on the state rescission laws you made your purchase in.
- Rescinding your timeshare contract means legally cancelling the timeshare for a full refund. Under the Truth in Lending Act (TILA), developers must include instructions on rescinding your timeshare within the documents you received with your purchase.
- Follow the instructions in the documents you received for the proper guidance in this process. The resort must comply with your request by law. If you’re unsure of the length of your rescission period, our team recommends you look into your state rescission laws.
- Now, this doesn’t mean the state where you live in! We mean determining the state rescission laws of the location of your timeshare. Knowing this could save you thousands if you catch it in time!
Most resorts require you to mail a written cancellation letter when rescinding your contract. We recommend purchasing expedited mail to avoid any issues. Paying a couple of extra dollars could save you tons in cancellation fees! Rescission laws also exist in Mexico. Click here to learn more about a timeshare rescission letter.
How To Sell My Worldmark Timeshare
- One option is putting your Worldmark timeshare on the resale market. But the first thing you should do is contact your resort. Programs such as Wyndham Cares or Ovation have customer service that can help!
- Exploring the resale market can seem overwhelming. If you don’t proceed cautiously, you could become the victim of a resale scam.
- This is because finding a buyer to purchase your timeshare is difficult. In truth, most timeshares depreciate almost immediately after purchase, and Worldmark timeshares are no exception.
If you want to list your Worldmark timeshare for sale, the following websites can help you advertise your timeshare for sale for free or for a low up-front fee:
- eBay ($50)
- com ($59.99 – $125)
- com ($15/year membership)
- com ($34.95)
- Craigslist (free)
However, you will quickly find that bids are listed as low as $1 on these sites. It won’t be long before you realise the value of your timeshare is little to nothing. This is why so many timeshares owners have become desperate to sell them. And who could blame them? Owning a timeshare can truly become a burden.
If you choose the resale route, watch out for any timeshare resale companies. There’s a big chance they will want to charge you up-front fees.
How to Get Rid of a Worldmark Timeshare Contract
If you want to eliminate the Worldmark timeshare contract, know this is complicated. This is your next best option if rescinding is out of the picture.
We always say the best way to cancel a timeshare contract is by doing so legally. This is why we recommend you hire a reputable timeshare exit company. You’ll want to hire one who works alongside attorneys and offers escrow. Otherwise, you’ll be vulnerable to a timeshare exit scam.
Legal timeshare cancellation is a lot easier now than it ever was. That’s because many resorts now offer their deed-back or buy-back programs. Also, many reputable timeshare exit companies have attorneys who look for misrepresentations or loopholes in your agreement. You have options More than ever, so taking advantage of them is crucial!
If you cannot sell or rescind, and your resort refuses to take back your timeshare, you can’t go wrong with hiring an exit company!
We suggest hiring a company with no up-front fees and offering an escrow payment option to protect you. The FTC and the BBB have warned timeshare owners against paying up-front to exit their contracts. We recommend escrow because this eliminates all upfront fees paid directly to the exit company. Doing this removes all the risk of becoming a victim of a timeshare exit scam. Learn more about why escrow is essential by clicking here.
In conclusion, if you’re wondering how to get out of a WorldMark timeshare, act soon! Timeshares can be a headache. If you went on vacation and were unfortunately victimised into signing a timeshare, don’t panic! Know you do have options.
As we explained above, we always recommend you get everything in writing. Having everything in writing will help you stay protected from potential timeshare scams. To learn more about timeshare exit scams, click here.
There are tons of timeshare scams each year. Contact our team so we can help you determine if a timeshare exit company is legitimate, and we recommend working with timeshare exit companies that offer escrow so you pay no up-front fees. Know your legal rights so you can exit your timeshare contract legally. Read over our website, fill out the form on the right, or contact us through Live Chat for a free informational consultation.