Want to Sell Your Timeshare?

How do I sell my timeshare? The answer to this is with great difficulty, there are many companies out there who say they can sell it for you or have buyers waiting. Some are genuine some are not.

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If you think about it, timeshare is losing its appeal, resorts and developers are not making the sales like they did in the past. The number of sales staff and sales decks are dwindling, the guys on the streets with scratch cards are also disappearing, they are not as visible as they once were. Yes it is safer to walk the streets while on holiday without being trapped by them.

 

So if the big companies can´t sell them because no one wants it, how can these resale companies sell them? Go on to their web sites and see how many are up for sale, literally hundreds. Google timeshares for sale and see the number of companies listed, the best one to look at is ebay.co.uk

 

Just today the timeshares for mainland Spain is 34, all varying in price. Mostly what the owners perceive to be the value of their so called investment. After all the original sales pitch was “you are buying property and it goes up in value”. One is being offered for £2.99, another has a bid for only 25 pence. Yet another has 2 people watching, the others not a single bid or offer.

 

For Tenerife there are 23 listed with a Club la Costa  holiday voucher for only 10p. Another for 99p, and again only one with anybody watching. There is even one for a Marriot Timeshare in Florida for £1. The chances are the ones that are being watched are interesting those who already own at that particular resort and see them as a bargain. So why are these not selling or being given away? The answer is simple THE MAINTENANCE FEES.

 

If you decide to go down the resale company route beware, it is illegal to ask for any upfront fees. Some companies will get round this by quoting it as a marketing cost to put your timeshare on a higher profile on their web site. Others say it is a guarantee in case you pull out or do not complete the paperwork transaction. Unfortunately it may even be with them for a year and never sell.

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Quite often what happens next is the corporate buyer pitch, this is usually where you end up going to a meeting and being pitched for another product. The point of you selling is to be free, not becoming involved with another type of club which may or may not work, or even be genuine. So you are stuck between a rock and a hard place.

 

Whatever you decide keep your expectations low regarding the price, remember timeshares or not worth the value that most people think they are. Think about other options such as relinquishing, there is always a charge for this service, the matter is how much. Many resorts will do this but they may be very expensive charging several years maintenance.  Do your homework and due diligence before committing to a company, the information is out there.
If you require any information about a company you intend doing business with and want help in finding this information, contact us and we will help you free of charge.

Is it a Timeshare Resort or a Hotel?

Having spent sometime reading various forums, it occurred to me that many timeshare owners are not happy with a very disturbing situation. The fact that non-owners are able to book into their resorts.

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After listing several resorts around the Canary Islands, Mainland Spain and Mallorca, placing these into google I was amazed at the results. All came up with various booking sites.

Booking.com; ebookers.com; trivago.com; villas.com; medresorts.net and tripadvisor.com.

Many had websites direct to the resorts offering quite substantial discounts.

 

Was not timeshare originally sold as an exclusive membership, with people being told that only other owners could use them and the facilities. Entering dates for availability and price came as a bit of a shock, in many cases it seemed that the prices were less per week than many owners are paying in maintenance fees. I know if I was an owner I would not be too happy about this. Especially having paid out thousands to buy it in the first place.

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The question is now is this legal let alone ethical?

 

According to one Spanish Lawyer that commented, it appears this may not be legal. He stated that the double business, hotel & timeshare resort/club was not allowed unless they were fixed weeks and apartments. Well I´m not a lawyer so I don´t really understand this, but I do think that it is not ethical.

 

Has this come about because of the dwindling number of people wanting to own timeshare, or is it the resorts just getting greedy? Many people who own points or floating weeks have told me that getting the availability to the resorts they want is difficult and in some cases impossible. Is it because of these rentals? So on one hand the resorts get your maintenance fees and on the other extra income from renting out. Not a bad business to be in is it!

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Thanks to the age of the internet timeshare has become a rather expensive holiday option. Gone are the days when the sales staff could say at least you are guaranteed a certain standard, or use the old financial logic pitch. Yes in those days being tied to the high street travel agent was expensive for decent accommodation, as for the package deals, well, did you know where you would stay until arrival and what condition was the resort/hotel? Yes we all remember those horror stories.

 

Are you happy that your resort now accepts non-owners, let us know your feelings through our comments section. Have a good Easter.

Kwikchex Update

It would now appear that the company Kwikchex have themselves been subject to a ruling by the Advertising Standards Authority. The TCA published a piece today 23/3/16 that the ASA ruled that the term “World Leading” was not factually correct. They were ordered to revise it.

 

They now use the term “World Renowned”. I don´t know about you, but does it not sound very similar? As I stated in the post dated 17th March, how can a company no one had heard of, running for only 6 years claim to have such a Global reputation?

 

Surely they are trying it on with the ASA, and still trying to claim this crusading status. Maybe another complaint to the ASA is in order, I leave it to you the reader to decide.

Thanks to the TCA for bringing this to our attention.

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