Selling your timeshare
You should check your contract before trying to sell your timeshare. Your timeshare company will have rules about sales and you will probably have to pay a transfer fee.
Contact your timeshare company and find out their policies on resale before you agree a sale. If your timeshare has an owners’ committee, they may be able to offer advice.
There are 2 ways to sell your timeshare:
- privately to another person, for example by putting an advert online or in a local shop
- through a timeshare resale organisation who help you to find a buyer
Selling through a timeshare resale organisation
Using a timeshare resale organisation can be the best way to sell your timeshare. However you need to be very carefulabout which organisation you choose.
There are some dishonest timeshare resale organisations operating illegally who may offer to sell your timeshare for a big profit. This kind of organisation will probably try and charge you a fee, often disguised as a deposit.
If you sign a timeshare resale agreement in a European Economic Area (EEA), country you're protected by the Timeshare Regulations. This means that:
- you have a 14 day cooling-off period during which you can cancel the agreement
- the trader can't take any money from you during the cooling-off period
- the trader must give you certain important written information about the agreement
- you must be given written information about how to cancel the agreement and a cancellation form.
If the trader doesn’t follow these rules they are breaking the law and your cooling-off period may become much longer than 14 days.
If you sign an agreement outside the EEA, you're not protected by these rules. For advice on timeshare resale agreements signed in Europe outside the UK, contact the UK European Consumer Centre (ECC). You can call their consumer helpline on 01268 886690.
Choosing a timeshare resale organisation
You need to make sure that the resale organisation you choose is trustworthy. You should check if the resale organisation is a member of the Resort Development Organisation and follow its code of conduct.
Be suspicious if a timeshare company offers you a very high price for your timeshare. Timeshares are not financial or property investments so when you sell you are unlikely to get as much money as you paid.
There are many organisations trying to take advantage of people who want to sell their timeshares. Often, organisations say they can sell your timeshare and then pressure you into buying more timeshare products.
Be suspicious of any organisation that:
- contacts you without an invitation, for example by cold calling
- asks you for any kind of up-front payment, for example a deposit or administration fee
- says they have a buyer waiting to buy your timeshare
- asks you to send them your Ownership Certificate
- puts a lot of pressure on you to make a decision quickly
- asks for your credit card details but tells you they won’t take any payment
- asks for any personal information, for example your bank details or address
- invites you to a resale presentation possibly with discounted travel or accommodation
Read more about how to avoid timeshare scams.