Selling A Timeshare

It can be difficult to sell a timeshare and the resale price is often much lower than the price you paid for it. Timeshare resale organisations may be able to help. You should think about asking several timeshare resale organisations to value your timeshare to get an idea about how much it is worth.

Before signing an agreement, check thoroughly that the terms and conditions offered by the organisation are suitable for your needs. For example, some timeshare resale organisations do not deal with timeshares which work on a points scheme and some may ask you to pay a fee up front. If an organisation is a member of a trade association, this may give you extra protection as it will be required to follow a code of practice.

You may have received an unsolicited telephone call or fax from a timeshare resale organisation saying that it has buyers keen to purchase your timeshare. In return, the organisation will ask you to pay a fee up front. After the fee is paid, the organisation may disappear, the sale of the timeshare may not happen, or the price the timeshare is sold for may only just cover the fee you paid to the resale company. You should consider any offer from a timeshare resale organisation very carefully, as there is often very little you can do to put things right if you have a problem.

If you already own a timeshare, a seller may try to persuade you to buy a better one, on the understanding that they will sell your existing timeshare. You should be very careful about accepting this type of offer as you may find that your existing timeshare is never sold, but you are still committed to buying the second timeshare. This is known as the 'buy-sell con'.

If you are thinking of selling your timeshare, you should talk to an experienced adviser, for example at a Citizens Advice Bureau. To search for details of your nearest CAB, including details of those that can give e-mail advice, click on nearest CAB.