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.
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.
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.