Practical advice on selling your timeshare such as setting your asking price, if selling is right for you and how we work if we are able to find you a buyer.
Above: Empty Deck Chairs on Beach
Understanderbly, this is one of the most commonly asked questions our regsitrations team receive on a daily basis. How much your timeshare may be able to fetch when resold depends very much on the resort, size of unit and week or season in which you own. In the vast majority of cases, please appreciate that your timeshare will be worth much less than the price paid if you purchased directly from the developer or resort. The reason for this is because, in the main, marketing costs make up a huge percentage of the final price paid. In fact, marketing costs and commissions may well equal or even well exceed the construction costs of the timeshare property.
If you originally purchased your timeshare via resale and are now looking to sell, we would hope any losses would be far narrower and limited to the cost of transferring the timeshare and any legal and administration fees etc.
Quite simply, timeshares should not be considered a financial investment. The right product can save holidaymakers a great deal of money when comparing like-for-like costs, however, timeshares are not comparable to property investments such as your house or home.
Selecting a realistic price for your timeshare is crucial if you are serious about selling your timeshare. If you are unsure as to how you should price your timeshare, you may wish to take a look through our site and see how other timeshares at the same resort are priced.
Whilst not always the case, you will probably notice a good deal of variation in the prices since an individual's personal circumstances tend to heavily influence the price being asked. Sellers who are very motivated to get their timeshare sold are likely to have lower prices and these of course are the weeks or points that are likely to sell ahead of more expensive products at the same resort or club. For the best advice on how to price your timeshare to sell, please speak with our registrations department on 01202 544 871.
Over the years we have sold thousands of timeshares on behalf of private sellers. However, for some individuals, selling their timeshare may not always be the best option available. So, before you look to sell, you may want to see if part exchanging or converting your timeshare provides a suitable solution.
For example, let's take the example of a family of four with children at an age where they no longer holiday together with their parents. This can leave the owners with a week in peak season in a larger than necessary apartment which, whilst can be exchanged for another week, may no longer deliver the same value as it once did (because holidaying outside of the peak season is, on-the-whole, cheaper).
If the owners still appreciate the high standards of accommodation of timesharing holidays, instead of selling their timeshare it may be suitable to convert the existing timeshare into another another product such as eXpectations Holidays. In this scenario it is possible that the owners would have a product easily capable of providing 2 or 3 weeks of holiday in a 1 bedroom unit outside of the peak period and so create much better value for money. To find out more you can read our information on part exchanging timeshare. This option is certainly worth considering if you still intend on taking holidays.
Registering to sell your timeshare with Worldwide Timeshare Hypermarket is quick and easy and requires no upfront fee! To get started you can either fill out a timeshare registration or call our registrations team on 01202 544 871. Once you have set your price and registered your timeshare, our consultants will be able to match the timeshare you wish to sell with the requirements of our customers looking to purchase timeshare.
We successfully match hundreds of buyers and sellers every month and if you're serious about selling your timeshare or timeshare points then we will do our very upmost to help. However, we are realists. We will not be able to find everyone a buyer.
The information below outlines our process from the seller's perspective and so taking some time to read through this will hopefully first assure you that we are a reputable company and also demonstrate that our processes ensure that both yourself and the buyer are 100% protected at every stage of the transaction.
Once you have registered your timeshare for sale our consultants dealing with buying enquiries will be able to see your timeshare on our internal systems. If there is a potential match between the week that you own and the requirements of one of our purchasers then you will no doubt receive a call. Initially this may be just to check that your timeshare is still available for sale and to ask some preliminary questions. For example, we would need to understand if the week is available for use this year or next year or whether the week has been banked with the likes of RCI or Interval International. We endeavor to make sure that we have answered any questions that a potential purchaser has before taking any offers to you. We are not a high-pressure sales organisation which we believe has played a major part in our success.
The timeshare resale market is very much a buyers market. For that reason it is likely that any serious purchaser may want to negotiate on your asking price. It is worth remembering that we have many other timeshare weeks on our books so unless a purchaser is after a specific week number at a specific resort you will have a fair amount of competition in the marketplace.
If you do accept an offer put forward, then the consultant dealing with the sale will make sure that he has answered any of your questions before passing the transaction to our contracts team to draw up the necessary paperwork.
The main document you will receive from ourselves is the "Vendor Warranties". This document will ask you to confirm some of the questions that you should have already discussed with the consultant. For example, it asks you to confirm if the week is available for use this year / next year and that the annual management fees are up-to-date etc. You can view an example of the document in PDF format below. You will also be required to sign a letter of appointment that provides us with the necessary permission to act on your behalf in the transfer of your timeshare and, in protection of the purchaser, make the necessary checks to ensure that they would not be inheriting any unpaid finance or unpaid management fees etc.
In addition to these documents, depending on which timeshare resort or club you own at, you may be required to sign your ownership certificate on the reverse and send that to us. Our contracts team will advise you on this as the transfer process changes greatly from resort to resort and from country to country.
Once an offer has been accepted we will first require the purchaser pay the legal and contracts fee of £299 for each timeshare week or group of timeshare points purchased. This payment covers the services provided by our in-house contracts team whom are responsible for ensuring that the ownership is cleanly transferred from seller to buyer.
We will then send the buyer the necessary paperwork to sign and return to us within fifteen days of their offer being accepted along with a cheque for the balance (or electronic bank transfer). In line with UK and European legislation, an independent trustee holds any monies paid by the purchaser until the transfer of ownership is complete. We use Resort Fiduciary Services Ltd as the trustee for all our transactions. Based in Bedford, Resort Fiduciary Services are members of TATOC (The Association for Timeshare Owners Committees and were incorporated in 2004.
Once we have received all the necessary documents from both buyer and seller and the trustees are in receipt of the balance, our contracts team will commence with the transfer of ownership. The procedure for this varies enormously and is dependent upon such elements as the timeshare sold and the country in which the timeshare is located.
Because of the various transfer procedures it is impossible to accurately pin-point a date when the transfer will complete although we will endeavor to provide you with a realistic time frame from the outset. We aim to deliver the highest standards of service and, rest assured, will action our requirements in a speedy manor. However, since every process requires the input of a third party (such as the Timeshare Club itself, the timeshare's trustees or a public notary), we may ask for your patience. Our urgency is not always matched by others!
Once we are in receipt of new ownership certificates or confirmation that the transfer is complete, we will instruct the trustees to release your monies due.