How to cancel diamond resorts sampler package

Cancellation: For a full refund of your Deposit, Owner(s) may cancel at any time within 10 days upon receipt of the confirmation letter (the “Cancellation Period”). Please send cancellation requests to Diamond Events, 10615 Park Run Drive, Las Vegas, NV, 89144 or call 1.800. 391.7840.

The Diamond Resorts “voluntary surrender” option

You send an email to Diamond’s loss mitigation saying you would like them to take back your timeshare, and why (e.g. financial hardship, medical condition). This is a voluntary surrender.

While it’s usually not necessary to provide a reason for canceling the timeshare contract, you do need to explicitly state that the purpose of the letter is to rescind the contract. A statement like “I am contacting you within the rescission period to cancel this timeshare contract” will usually work.

In reality, the RCI timeshare scam is well documented and has a very bad reputation within the timeshare community. Customers are locked into RCI and forced to pay large hidden fees, just like their timeshare contract. Massive deposits have to be put down for exchanges, unbeknown to customers until it is too late.

You can‘t just walk away from a timeshare. That’s because they often come with an obligation to pay maintenance fees for as long as you own them. It says 85 percent of timeshare owners who go to contract regret their purchase.

Failure to pay the maintenance fees results in the resort foreclosing on the property and selling it at auction to recover money owed. You may face a judicial or non-judicial foreclosure. Judicial foreclosures allow the lender to pursue a deficiency judgment for the balance due after the auction.

If you stop paying it, the timeshare company will do whatever it takes to collect. They’ll make phone calls and send letters, then they’ll assign it over to (you guessed it) a collections company. If you still don’t pay, the situation sinks even further into foreclosure and possible legal action against you.

If your contract has no deed back clause, you may be able to give your timeshare back under a deed back program. To qualify, most resorts insist that all maintenance fees and special assessment fees are paid in full. If the resort is holding a large number of unsold timeshares, it may refuse to accept your deed back.

If you are either left a timeshare in a will or are the legal heir of someone who owned a timeshare and died without a will, you may choose to refuse to accept your inheritance. In legal terms, this is generally called “renunciation of property.”

Costs to Get Out of a Timeshare

On average, it costs about $5,000 to $6,000 and takes 12–18 months to get out of your timeshare contract using a timeshare exit company. But the cost and the timeframe can vary depending on a number of factors including, how many contracts are attached to your 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.

Some people just stop paying on their timeshares. If you do walk away, don’t be surprised to see a big hit to your credit score and to start getting regular calls from collection agencies. You might regret your purchase, but you did sign a legally binding contract.