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Timeshare Consumers Association

The natural demand for timeshare is now so poor that existing timeshare owners are having very great difficulty getting rid of their ownership.  A great many timeshares are now totally worhless as nobody wants to buy.

Selling options

Sell through your Owners Club or Management Company.
This method should give you a better price than other methods IF you make a sale. But as few resorts have a realistic resale programme very few owners successfully sell through their club or management company. But it is worth trying.

Sell through an Independent Resale Broker
This is by far the most successful means of selling. There is now only a handful of resale brokers actually making sales. We suggest that you register with all who do NOT charge an up-front fee (for whatever purpose) and listen to what they say about the true market price. You should explain the urgency of the sale as this will substantially affect the price. Quick sale = Low price. The list of TCA recommended resale is here.
 

NEVER, EVER pay any up-front money to anyone who claims to have sold or be able to sell your timeshare.  See here And NEVER hand over your certificateof ownership  except to a totally independant stakeholder.

D.I.Y. sales
Sell to a friend, work colleague or relative or by advertising in a newspaper or on the Internet (eBay is popular). But, not all buyers are honest, so take the following precautions:-

• Use an independent stakeholder - see here
• The buyer will want confirmation that:-
  • You actually own the week
  • That Management Fees are paid up to date (and what they are annually)
  • That the week has not been banked with an exchange company (or that the banked week is available for the buyers use)

Current market values
Most timeshare weeks are now worthless on the open market. But owners of school holiday weeks, especially in a top notch resort, should be able to find a buyer at prices above £1,000. and in exceptional circumstances (the most sought after weeks and resorts) owners could receive over  £2,000.
If you have points in Club Sunterra a good option is to advertise them on the members wedbsite   If RCI Points then check out the best prices at www.morps.org

Giving to a Charity

Although there are a few charities in the USA willing to take over ownership of a timeshare, TCA have not been able to find a single charity in Europe who will do so.

Walking Away

Increasingly owners are choosing to stop paying the annual fees and ask the resort to take back (repossess) their ownership. Whilst this does work in a limited number of cases, it is getting more difficult as many resorts are unable to sell their own un-sold weeks, let alone those of existing owners.
 

WARNING. Many clubs are taking management fee defaulters to court.  If they win the case this means that you are stuck with paying management fees for the rest of your life - and perhaps the lives of your children. See  here   for more details.

If you do not know the club policy on repossession an unwanted timeshare, write to the club or resort asking them. If they say that the club will not repossess then seek legal advice as to whether the club is entitled to take legal action against management fee defaulters. You could take advantage of the 15 minute free interview with a solicitor which can be arranged through your local Citizens Advice Bureau.

We have heard from a number of owners who have "walked away" that threats of legal action by the resort can be deflected by telling the resort that you were told, when you originally bought, that it was "A good investment, you will get all your money back" - which was a blatant lie. Note that "debt collectors" have no power to enforce any payment without a Court Order. If a debt collector appears at your door without a Court Order they should be sent packing.

Other options

Renting out As a temporary measure you might be able to rent out your week, especially if it is "high season", through your club or resort or an internet advertisement such as www.villarenters.com  or  rent-accom Don't forget to write to the Club telling them the name of the person who will be using your week - and give the user a copy of this letter to take with them as their entry ticket.

Weeks in American resorts

A few US based charities will accept a US timeshare week as a gift which they then auction to generate income for the charity. The following may accept donations:-

• National Foundation for Cancer research, Montana. Email: timeshare@nfcr.org
• Gifts for Sight. Web: www.giftsforsight.org/timeshare/