Some of the most common questions relating to Timeshare Resales and how we work.
The concept of Timeshare is where a collective jointly purchase ownership-of or access-to an asset that individually they do not require continuous use of with the asset often having a significant cost. Whilst we deal with the timeshare of holiday accommodation the concept has been applied to everything from sports cars and yachts to super computers and deep space telescopes!
The aim is provide the collective with access to an asset which may otherwise be hard to come by or is financially out of reach and in doing so may also provide financial savings when compared to renting something equivalent over a period a time.
When it comes to holiday accommodation, owning a timeshare entitles the owner to the use of high quality holiday accommodation either for a fixed term, leashold, freehold or in perpetuity. Ownership is either for a specific apartment, villa or lodge during a particular period or week number every year or, as is the case with "floating" weeks and "timeshare points", provides the owner with the right to occupy various accommodations at various times throughout the year.
Definitely not! We generally only deal with timeshares that are affiliated to either Resort Condominiums International (RCI) or Interval International (II). These are the world's two largest timeshare exchange organisations which together enable over one million timeshare members to swap / exchange the accommodation they own to then enjoy a different holiday in another part of the world.
We also sell many products which enable owners to choose from various resort destinations without having a set "fixed" week that must be used every year and all our customers also have access to our own timeshare exchange.
After the initial purchase price of your timeshare there will be a yearly commitment in the form of "management" or "maintenance fees". These generally cover all the expenses associated with the running and upkeep of your accommodation and resort. Staff wages (reception / guest services, cleaners, resort management, groundsmen, security, lifeguards etc) often make up a large percentage of the fees together with the taxes, utilities, maintenance and refurbishment of the accommodation, common areas and onsite facilities.
If you own a "fixed" or "floating" week the fees are normally split evenly amongst the members with some consideration for different sizes of accommodation. The same is true for "points" products although the fees are often determined by the number of points owned.
The management company of the resort or the owner's committee in which you own will usually collect the fees with the accounts being made visible to all members. The total amount of fees due will vary greatly depending on many factors including the location of your resort, the level and quality of onsite facilities, the unit size, the quality of the furnishings, the frequency of cleaning services etc.
In the vast majority of cases there is absolutely no difference in the ownership one has buying a resale when compared with purchasing from the developer or marketing agent. In some cases there may have been additional rights offered to the original purchaser as an incentive at point of sale which are not always transferable.
The level of investment required to develop and then market a new resort is very substantial with large sums of money tied up for long periods of time. Businesses want to see a return on this money which, together with very high marketing costs, mean that the "new" price is often much higher than any intrinsic value the timeshare product has. Much the same as the price of a new car does not reflect its actual worth or resale value, timeshares do not hold their value.
Absolutely not! Different products will deliver varying degrees of value and hopefully the annual savings will amount over the years so that your holiday accommodation has cost less than comparable lodgings purchased through a travel agent or rental agency. However, you should not view timeshare as an investment in the same way you may view your house or home.
We have many customer for whom the primary aim of their purchase was to secure high quality accommodation for their family at locations which their fellow guests are also owners.
Different colours are often used to represent different seasons at particular resorts although unfortunately there is no standard system. As a very rough rule-of-thumb, Red = High, White = Mid and Blue would be Low season where as Platinum = Peak School Holidays, Gold = High and Silver = Mid or Low Season. Please seek advice from one of our consultants on this.
Buying through World-wide Timeshare Hypermarket you can be sure that you are in safe hands. Your monies are deposited in an Escrow account, administered by Fully Insured Trustee Company. This means that no funds will be released until title has been transferred to the purchaser's name, ensuring both parties to the agreement of sale are fully protected. All purchasers have an unconditional 14 day cooling off period, during which time they can pull out of the sale.
No. We employ our own in-house contracts team who share an exceedingly high level of experience and expertise in the transfer of timeshare ownerships. All transfers will be handled by our internal team although they are of course more than happy to answer any questions presented on your behalf. For further insight into our processes and to view examples of our paperwork, please visit either our Timeshare Resales Buyers Guide or Timeshare Resale Sellers Guide.
It may be possible that we can help you. For more information please read our Part Exchange Timeshare page.
It could take just days to sell your timeshare. In other cases it may take longer, depending on the demand for your particular week or resort. You can often gain a quicker sale by being realistic with your price. The cheaper the week is, the more likely it is to be snapped up. We have waiting lists of buyers who want to own at particular resorts.
Purchasing a week can take anything from 2 weeks to 60 days to complete, depending on the co-operation of the resorts themselves. World-wide Timeshare Hypermarket has to ensure that all legal procedures are adhered to and that each timeshare week is free of any liens and encumbrances. We do all the work and keep you informed about what is happening.
As well as advertising weeks for sale in the member publications of TATOC and Dial An Exchange, we advertise in all the UK national newspapers on a daily basis, property magazines, classified publications and of course the Internet. We also advertise on National Terrestrial and SKY Digital Television as well as sponsoring The Travel Channel on SKY.
If you are calling us from outside the UK, call us on 0044 1202 544 870.
Perpetuity: This is how most Timeshare resorts are run. Here you own the right to use and occupy a particular period within a resort and it is normally run as an "Owners Club." As the name suggests it can go on & on & on but it is only the Owners who can decide by a majority vote that they wish to terminate the Club. This would be done at a special Annual General Meeting of the Owners, normally every 60, 70 or 80 years. They will have the choice to keep the Club running but may also have offers to sell the resort. In the case of the later it is generally the case that any profits from this would be split equally between the Owners.
Freehold: This, in its simplest context is to own forever. When it comes to Freehold Timeshare it means that you own a share of the land and the building upon it.
Leasehold: A Timeshare that runs on a lease has a set termination date. For example a resort that was originally purchased on a 30-year lease in 1990, will run until the 31st of December 2020. After the lease has run out, in most cases the Owner will have no further obligations or rights. They may be able to extend their lease however it is inevitable that this will cost. Although some people will tend to avoid Leasehold, it is worth pointing out that 20 years is a lot of holidays and also it is typical that the Management Fees will be cheaper.
Escritura: The Spanish and Portuguese term for "Freehold Title Deed." We tend to avoid the sale of these weeks as the transfer procedures involve solicitor's fees, which can be very costly. The major drawback is the legal registration of the Timeshare week(s) can be very prolonged and continue for many months.
Fixed Weeks: Owning a set week number in a particular apartment.
Floating Weeks: Owning a week with no set date or apartment. Here the Owner will be able to choose a different date each year giving greater flexibility. There may be restrictions, for example a "Low" season floating week in Spain, would probably only allow the owner to holiday in November, December, January and February. Always check what restrictions may apply. Some floating weeks may also give access to more than one resort without using the Exchange.
Fixed Week with Floating Unit: Owning a set week number but no particular apartment. Here if you owned a 2-bedroom apartment you would always get a 2 bedroom, however it gives the resort extra flexibility dealing with Exchange guests.
Points: Here, a resort, or group of resorts are split up into points as opposed to weeks. This would enable the Owner to choose the size of unit/destination/length of stay etc, without having to use the Exchange.
Points Systems: These offer the greatest flexibility to the Timeshare Owner. Participants of these systems purchase points, which they use as currency to reserve Timeshare accommodations of various sizes, during different seasons and for varying lengths of time. The points can also be used for other holiday products such as airfare, hotel stays and car rentals.
RCI Points: In late 2000, RCI launched RCI Points, the world's first global points-based Exchange system. RCI Points allows members to have their Timeshare Ownership interest converted into a quantity of points, (determined by the size of the unit, location, season, resort demand, etc.), which can be exchanged for other Timeshare accommodations, as well as for airfare, rental cars, hotel stays, golf outings, cruises, and European country cottages. RCI Points is the most flexible Exchange system in the world, and is bringing more travel and leisure options to the Timeshare Owner.