You should look at your contract before trying to sell your timeshare. Your timeshare company will have rules about sales and you will probably have to pay a transfer fee.
Contact your timeshare company and find out their policies on resale before you agree a sale. If your timeshare has an Owners’ Committee, they may be able to offer advice.
There are two ways to sell your timeshare. These are:
- privately to another person, for example by putting an advert online or in a local shop
- through a timeshare resale organisation who help you to find a buyer.
Selling your timeshare through a timeshare resale organisation
Using a timeshare resale organisation can be the best way to sell your timeshare. However you need to be very careful about which organisation you choose.
There are some dishonest timeshare resale organisations operating illegally who may offer to sell your timeshare for a big profit. This kind of organisation will probably try and charge you a fee, often disguised as a deposit.
If you sign a timeshare resale agreement in a European Economic Area country (EEA), you’re protected by the Timeshare Regulations. This means that:
- you have a 14 day cooling-off period during which you can cancel the agreement
- the trader can’t take any money from you during the cooling-off period
- the trader must give you certain important written information about the agreement
- you must be given written information about how to cancel the agreement and a cancellation form.
If the trader doesn’t follow these rules they are breaking the law and your cooling-off period may become much longer than 14 days.
If you sign an agreement outside the EEA, you’re not protected by these rules.
For more information about the rules a timeshare company must follow when you sign an agreement in an EEA country, see Are you within the cooling off period of your timeshare agreement?
Choosing a timeshare resale organisation
You need to make sure that the resale organisation you choose is trustworthy. Check if the resale organisation is a member of the Resort Development Organisation or TATOC and follow its code of conduct.
Be suspicious if a timeshare company offers you a very high price for your timeshare. Timeshares are not financial or property investments so when you sell you are unlikely to get as much money as you paid.
There are many organisations trying to take advantage of people who want to sell their timeshares. Often, organisations say they can sell your timeshare and then pressure you into buying more timeshare products.
Be suspicious of any organisation that:
- contacts you without an invitation, for example by cold calling
- asks you for any kind of up-front payment, for example a deposit or administration fee
- says they have a buyer waiting to buy your timeshare
- asks you to send them your Ownership Certificate
- puts a lot of pressure on you to make a decision quickly
- asks for your credit card details but tells you they won’t take any payment
- asks for any personal information, for example your bank details or address
- invites you to a resale presentation possibly with discounted travel or accommodation.
If you wish to use a resale company to handle the sale or rental of a timeshare, you MUST, for your own safety, use a company that is a member of one of the trade bodies such as TATOC ( http://www.tatoc.co.uk ) or ARDA ( http://www.arda.org ) or RDO ( http://www.rdo.org ) or ATHOC ( http://www.athoc.com.au ) depending on where in the world you are.
Being a member of these trade bodies means that the company –
- Has a recognisable trading history
- Is safe and financially secure
- Must adhere to the rules of the organisation which is primarily to protect the consumer
We recommend the following resale companies to people who are wanting to buy / sell or rent timeshare and instead of doing the transaction themselves, want to use a resale company to do everything for them to ensure safety a security.
Travel & Leisure Group Ltd
47-48 Ballingdon Street
Telephone: 0800 071 1372 / 01787 881111
Fax: 01787 883456
Travel & Leisure Group, established in 1992, is one of the largest independent timeshare re-sale brokerages in Europe. Backed up by years of experience, the Travel & Leisure Group has made selling timeshare properties easier than ever before, for people across the globe. Our multilingual team excels in finding buyers for timeshare properties across the continent – and our size and success has placed us at the heart of the European timeshare resale brokerage.
WorldWide Timeshare Hypermarket
Venator House, 9 St Stephens Court
15-17 St Stephens Road
Telephone: +44 (0)871 781 6781
We are the Worldwide Timeshare Hypermarket, a highly professional re-sale company with an excellent reputation for customer care. We have been trading in timeshare re-sales for over eleven years and currently have the biggest database of timeshare weeks available, plus long waiting lists of buyers who are eager for specific weeks when they become available. Our European Headquarters is located in Bournemouth, so we conduct our business strictly in line with European law.
Confused About Timeshare
Watermans Business Park, The Causeway
Telephone: +44 (0)1784 451355
Fax: +44 (0)1784 898360
Timeshare resale specialists offering independent advice for buying, selling and renting. We ensure customers have answers to all their questions and make sure our wealth of knowledge and hands on experience is shared to the timeshare resale community. Confused about timeshare was created to challenge the industry to a fresh, dynamic and creative way of selling, buying and renting timeshare.
Telephone: +44 (0) 1877 382390
Fax: +44 (0)1877 382394|
Aberfoyle Holidays was established in 2003 to make the buying and selling of timeshare honest, easier and less costly for the consumer. We aim to give the vendor a fair and realistic chance of selling their timeshare and the buyer the opportunity to safely purchase at a reasonable and competitive price. We are committed to employing the most professional, well trained and ethical staff who endeavour to provide genuine valuations, accurate up to date information and commonsense advice.