Discussion
Just after some advice...
My Mum has a timeshare for some years now which has been good value and used well with friends / family etc however the situation has changed and she no longer wants the 'family poolside beach' holidays.
Is there anywhere to sell the timeshare at a discounted rate?
My Mum has a timeshare for some years now which has been good value and used well with friends / family etc however the situation has changed and she no longer wants the 'family poolside beach' holidays.
Is there anywhere to sell the timeshare at a discounted rate?
My parents are in the same situation so it's something I have looked into.
Firstly, check whether the terms of the contract are finite (e.g. 20 years) or "in perpetuity" (my parents' 2 week timeshare is).
Timeshares are very difficult to sell, particularly as there are some agencies who will ask for upfront fees and not actually do anything.
You see them sell on ebay. There used to be charities who would take them as well. However, it can be quite difficult to even give them away for nothing. If you do find a taker, the timeshare company will want a fee to transfer the deeds (plus you ideally need a solicitor), and the timeshare company may be allowed to refuse the transfer of ownership.
Handing back the keys and running can result in you being pursued in court.
It's worth talking to the timeshare company, though, as some offer schemes where you can buy your way out the contract, but they're not cheap. My parents keep getting asked if they want to pay £3-4k to change their contract to one where you can apparently end the contract at any time. Unfortunately, they've never actually seen any paperwork regarding this (it's always high pressure give me an immediate answer phone calls) and can hardly afford the annual fees as it is.
Currently we exchange the timeshares through interval but it's an extremely expensive way to take a holiday.
Firstly, check whether the terms of the contract are finite (e.g. 20 years) or "in perpetuity" (my parents' 2 week timeshare is).
Timeshares are very difficult to sell, particularly as there are some agencies who will ask for upfront fees and not actually do anything.
You see them sell on ebay. There used to be charities who would take them as well. However, it can be quite difficult to even give them away for nothing. If you do find a taker, the timeshare company will want a fee to transfer the deeds (plus you ideally need a solicitor), and the timeshare company may be allowed to refuse the transfer of ownership.
Handing back the keys and running can result in you being pursued in court.
It's worth talking to the timeshare company, though, as some offer schemes where you can buy your way out the contract, but they're not cheap. My parents keep getting asked if they want to pay £3-4k to change their contract to one where you can apparently end the contract at any time. Unfortunately, they've never actually seen any paperwork regarding this (it's always high pressure give me an immediate answer phone calls) and can hardly afford the annual fees as it is.
Currently we exchange the timeshares through interval but it's an extremely expensive way to take a holiday.
Edited by oldbanger on Friday 28th May 20:15
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