How to Sell a Timeshare Without Being Conned by James Howson
Attempting to get rid of an unwanted timeshare has become a costly and troublesome exercise for many owners. A decrease in the number of buyers and the reluctance of resorts to take back their weeks, coupled with fraudulent resales companies, has made it harder than ever to know how to sell a timeshare.
The timeshare industry thrived in the late eighties and nineties, with people keen to take advantage of what were seen as excellent prices for what would be a lifetime of quality holidays. However, inevitably many people’s priorities and circumstances have changed in the intervening years, meaning that the annual maintenance fees charged by specialist resorts can become a burden, particularly on older owners who are no longer able to travel. The resorts certainly knew how to sell a timeshare to those that visited, but now they are not so keen to take those properties back.
Most people, when paying several thousands of pounds for timeshare weeks or points, will have assumed that there would be an easy way out at some point should they decide that they are no longer getting the value from the agreement that they once did. Unfortunately for many it has not proved to be that simple. Who do you trust when you are trying to find out how to sell a timeshare? Many owners would be excused for thinking that the resorts at which they take their holidays will offer unbiased and helpful advice on how to find a buyer. However, they are desperate for you to hang on to your week so that you can continue paying your maintenance fees which are a valuable source of income for the resorts, particularly given that fewer people are buying weeks and points nowadays and if they are, many opt to buy through the secondary market.
Secondary market resales are one of the few ways in which owners can relinquish their commitment to a timeshare agreement. Reputable resellers who are associated with trade bodies and watchdogs such as TATOC and RDO will offer advice on how to sell a timeshare, as well as taking you through the services that they can provide. Many thousands of owners have fallen foul of scam companies who have cold called them, with a conman then talking them into parting with large amounts of money in order to secure a sale. The scams are constantly evolving and the threat remains, despite the presence of industry watchdogs that are doing their best to protect the consumer.
The rule of thumb for those that are wondering how to sell a timeshare is to approach a resales company that is recommended by the major trade bodies. They can advertise your timeshare to a worldwide network of buyers to give you the best chance of selling it, albeit most likely at a nominal price given the depreciation in the market.
About the Author
James Howson is an avid traveller and timeshare expert with over a decade of experience reviewing top resorts. He knows how to sell a timeshare having been an active player on the timeshare resale market for many years.
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