How Do I Cancel My Coral Resorts Timeshare Contract in Memphis?
(1) Contact Coral Resorts
One option is to contact your resort to see if you can self-negotiate an exit solution directly with the company. Your resort developer, management company, or property owner’s association may have a deed back, or timeshare cancellation program already in place. Keep in mind that your options may be limited once the state-mandated rescission period has passed. You may want to request in advance all cancellation terms and conditions as well as fees that may apply for deed relinquishment.
(2) Rental and Third-Party Resale
Many Coral Resorts Timeshare owners in Memphis attempt to rent out their own vacation intervals, using an online marketplace such as eBay or another rental platform. Be sure to read the Coral Resorts member guidelines and rules regarding renting out your own vacation interval. Often restrictions apply to those club members who use third-party rental companies. Guest certificate fees as well as other significant restrictions may apply.
Owners may also look to third-party resale companies to attempt to sell timeshare. We advise that you steer away from upfront online advertising firms that hold themselves out as resale companies. Many of these secondary market companies have no resale licensing at all and typically only apply for a telemarketing license as required by various state laws. If you choose to look at resale, check eBay or other websites that show actual sales of timeshare resales and not just listings. Many timeshares can be bought and are sold for as little as a dollar on the secondary market. Other types of companies that operate in the resale marketplace are travel club/trade-in and transfer groups. These companies are not directly connected to Coral Resorts and owners should also use caution when considering using any of these services. Regulatory warnings are issued frequently about the above types of timeshare relief companies and those specific services offered.
(3) Cancel your Coral Resorts Timeshare contract with a Timeshare Attorney
A timeshare attorney has a legal and ethical obligation to care for you and you alone, not a company that cares about profit. Your timeshare attorney will formulate a solid and individual exit strategy with you.
Having a timeshare attorney on your side can also offer practical, material benefits when it comes to a timeshare cancellation. Only an attorney can provide you with one-on-one legal advice when it comes to understanding your actual rights and remedies as a consumer based on your experience.
Only an attorney who directly represents a client can offer the opportunity to pursue litigation if it is warranted. Many resort developers have been more open to negotiation and settlement than they would be with a consumer who comes to the table without representation and may not understand the legal aspects of timeshare cancellation.
Ready to cancel your timeshare contract? Contact the Finn Law Group today.
Led by Attorney Michael D. Finn with 50 years of experience, the Finn Law Group is a consumer protection firm specializing in timeshare law. Our lawyers understand vacation ownership as well as the many pitfalls of the secondary market of timeshare resales. If you feel you have been victimized by a timeshare company, contact our offices for a free consultation.