Purchasing and selling time shares could be a stressing matter for most, horror tales circulate and individuals get burnt, lose cash and believe less of the industry in general.
There have been many ways of How to sell a timeshare, the most common one being cold callers who say that they have a buyer for weeks that have not been advertised. This is someone who rouge companies often seem to have, one that wants to buy any points at any club almost at any cost.
For a potential seller who is unsure about the financial difficulties- the timeshare and holiday sectors are in, an offer which is as appealing as this may actually be too good to be true. Although having spoken to consumers who have found themselves in exactly this position, it doesn’t very often end well. In the best situations you may end up making the sale but being lumped with expensive fees that weren’t made clear at the beginning or worse, the company simply disappears with your money, not to be heard of again.
Activities like this are more often than not, illegal and should be avoided at all costs. More and more is put in to place to help to tidy up the reputation and protect current owners and potential customers from scam resellers, and the issuing of the directive is the next step.
The Directive means that timeshare traders must give detailed information to consumers in good time before they are bound contractually on how to sell a timeshare. As well as the price due should be made clear in the contract and they have a 14 day “cooling-off” term where customers can withdraw from the agreement – and be told of this by the trader.
Of course the rulings are slowly changing to ensure that the punishments for those ensnaring timeshare owners or potential customers in scammy or over-priced deals is wose, but it will take time for things to remedy themselves. Like real estate, used car sales and insurance industries there is a lot you can do to ensure that you protect yourself as well. Here are some basic things you should check up on when you begin:
Does the reseller have a web page? Anyone can have an online presence I know, but you can learn a lot about a company by their website. Reputable brokers should have legitimate links to other businesses and regulatory bodies and should ideally be high up on Google or other search engines.
What do other owners say about reseller? Word of mouth can be a significant thing, not everything you hear may be true, but it’s often worth enquiring/looking around to see what the overall feeling is. Most resorts will be able to tell you if you’re looking on How to sell a timeshare and give recommendations on the resellers who they deal with often. You can get rid of most uncertainty by learning as much you can about the reseller first.
As more rules and regulations are put in and the less reputable resellers start to disappear it becomes clear that you can buy and sell timeshares in safety, you just need to do your homework and not start anything without thinking it through and doing your research first.