When you decide the time has come to sell your timeshare, you need to be extremely vigilant for the scams.
There are in fact many rules and requirements in relation to selling your timeshare, (and yes some will cost you money).
The contract will state what is required of you in the event of you selling your timeshare.
If you are unsure of the sale procedure contact the timeshare company, and ask about their policy in regards to the resale of said timeshare.
Maybe your resort has a owners committee who could assist you in this procedure.
Where to advertise your timeshare?
This is the head scratching point, realistically you can advertise it yourself, or sell it to friends or family (private sale)
or opt for the resale company (the broker).
When using the services of the resale agent you need to consider there are many dishonest companies out there all trying to get your business.
Be wary of anyone who promises you a quick sale. No one can guarantee that.
If It Sounds Too Good to Be True, It Probably Is
Timeshares are not easy to sell.
There are few buyers and even less demand. With so many tens of thousands of timeshares available, it’s difficult to find someone willing to take on your ownership. Most people looking at the timeshare resales market know the truth about timeshares being poor investments, having many fees and extremely difficult to sell.
Be suspicious of any company that:
- asks for your Ownership Certificate
- require any type of up-front fee
- asks you to make a decision quickly
- claims to have buyers for timeshares waiting
- require personal information, home address bank info
- require your credit card details and state they wont take any payment
- cold calling without invitation
- guarantee you’ll get big returns on your resale
- don’t provide a contract
- provide a contract that doesn’t accurately reflect conversations you had
- guarantee sale in specific time
You can also see how credible the company is before advertising with them, by becoming a buyer first. Call the company and ask for information about a timeshare they have advertised.
Make out you are interested in buying that timeshare and see how they would sell your timeshare.
Also email them or ask a friend in the event they have your email address and see if you get a punctual response. Remember this is the company you might be putting in charge of your resale. It pays to know what they are going to do and say. The way to stay informed and protected is to research.
For more information regarding this article or assistance in any other timeshare related issues please contact the TCA on 02035 193 808 or email: Info@TimeshareConsumerAssociation.org.uk
For more information regarding this article or assistance in any other timeshare related issues please contact the TCA on 01908 881058 or email: info@TimeshareConsumerAssociation.org.uk