When you first purchased your timeshare contract, you probably paid a large lump sum. You will then have been paying substantial annual maintenance fees which will have increased each year. In all, you have spent thousands on your timeshare over the years, and you may think that this means it’s worth at least as much as that initial outlay. You may even have been told, when you signed up, that the timeshare would accrue in value over time.
The sad truth, though, is that this simply isn’t the case. Timeshares on the resale market are seldom worth even half as much as was originally paid for them. Equally, those who were told that their timeshare was an investment that would make money over the years were, frankly, lied to and may have a legal case for misrepresentation.
So, for those asking ‘what is my timeshare worth?’, there is rarely a positive answer.
Some people have taken to auction sites like eBay in order to sell timeshare, getting just £1 in many cases – barely enough to pay the listing fees. Others fall victim to scam artists promising a ready buyer willing to pay a large sum for their timeshare. After parting with a significant amount of money to enlist the ‘services’ of the fraudulent sales rep, the fraudster disappears into the sunset with their money.
The good news is that it isn’t a lost cause.
For those wishing to say goodbye to their timeshare without having to accept a massive financial loss, there are options on the resale market. Though you may not be able to get cash money for your timeshare sale, options such as points-based voucher schemes to take care of everyday spending is a viable route where the savings made equate to a large enough sum to make the sale worthwhile. If this is not an option you wish to consider, you could consider giving your timeshare back, which might result in a legal case but has a good likelihood of success… although the chances are you will not get any money in return, unless the timeshare company has breached legal regulations (in which case compensation may be available).
Where fraud has taken place, taking a legal route to hunt down and bring the fraudsters to justice can bear fruit in terms of returning the sum.
All in all, the best option is to enlist the services of a legitimate and established timeshare sales company like SellMyTimeshare.tv who will be able to work with you to find the best option for you. Everybody’s needs are different, and whilst you may not be able to get back all the money you’ve spent on your timeshare over the years, there is a route to freedom which need not leave you entirely out of pocket.
- Wednesday, 21 February 2018 12:01