The Citizens Advice service helps people resolve their legal, money and other problems by providing free, independent and confidential advice, and by influencing policymakers.
Every Citizens Advice Bureau is a registered charity reliant on trained volunteers and funds to provide these vital services for local communities.
Don’t let selling your timeshare become a nightmare! |
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To mark European Consumer Day on 15th March, Citizens Advice European Consumer Centre has issued a set of tips on how to stop the sale of your timeshare becoming a nightmare. European regulations have done a great deal to help people who have been stung by unscrupulous timeshare salespeople. However more and more people are finding that the re-sale of their timeshare is an area fraught with difficulties, and subject to unscrupulous con-artists. Fees can get ‘lost’ in a network of company aliases, and people are all-too-frequently ripped-off by fly-by-night operators. Here is a typical experience from one Citizens Advice European Consumer Centre client:
Ruth Bamford, head of the Citizens Advice European Consumer Centre, said:
Top tips:1.If you’re offered a deal on selling your timeshare which sounds too good to be true - it probably is. 2.Don’t pay money to a re-sales company up-front. If the company is legitimate and is really going to buy your timeshare, they can take any commission or fees from the final bill once the sale is completed. If a company asks for money up-front, ask yourself why they need to do this. 3.Be suspicious of the ‘hard sell’, and beware of being worn down by hours of sales talk. Remember – if it really is this good, why do they have to make such an effort? 4.Take care if you are thinking of exchanging your existing timeshare for an alternative package. Laws relating to timeshare deals are very specific in what they do and don’t cover. The last thing you want to do is swap a package, which carries consumer protection for one that falls through a loophole in the law. You’ll just end up with something even more difficult to get rid of. 5.Make sure you know who you are selling your timeshare to. Companies in this business often hide behind a whole list of aliases and subsidiaries - which can be difficult to see through if things go wrong. Get the full trading name of the company, as well as a Companies House registered number. You can check these out at 6.If you were selling your house, would you get a professional to have a look at the contract? Of course you would. The same should be true if you are selling a timeshare; and any company that refuses to let professionals look at its contracts should be avoided. 7.Remember the saying - a verbal contract isn’t worth the paper it’s written on. A salesman can promise you the world, but if you haven’t got in down in black and white, you’re unlikely to be able to get it to stand-up later. 8.Freebies are the name of the game when it comes to timeshare. Free sparkling wine; free holidays; free lunches. But, in reality, there is no such thing as a free lunch. Often you’ll be expected to sign up to buy something, or pay an ‘administration fee’ to get your ‘freebie’. 9.Don’t let them have your debit card, credit card or bank details. They might use it to take your money straight away, even if they say they won’t. And if you pay now, you may not get your money back even if the law is on your side. Note: Citizens Advice European Consumer Centre advised people on 776 cross-border consumer problems during 2004, of which 221 (29%) related to timeshare or holiday clubs, including re-sales. So far in 2005, 24% of cases have related to timeshare or holiday clubs, including re-sales. Notes to editors:
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