Anyone got/had a timeshare?

Mrs_Manero

my parents have 'given back' their timeshare in portugal, because of spiralling costs. They are however being chased for maintenance fees, can anyone advise?

AndysDad

Seems like you have alot of learning to do.....You can buy numerous weeks on Ebay (sometimes for 1p).Its the maintenance fees that make most people get out of timeshare especially if you have exchange fee's on top.If you have a 'cooling off' period I would use it.Sorry to be negative but I've seen alot of very dis-appointed people regretting ever buying in the 1st place.

ceejayblue

AndysDad wrote: »

Seems like you have alot of learning to do.....You can buy numerous weeks on Ebay (sometimes for 1p).Its the maintenance fees that make most people get out of timeshare especially if you have exchange fee's on top.If you have a 'cooling off' period I would use it.Sorry to be negative but I've seen alot of very dis-appointed people regretting ever buying in the 1st place.

I recently saw an auction on ebay for a weeks timeshare at a resort I wanted to visit. I sent the seller an email because I was querying how low the maintenance fees are and by the time they got back to me the auction was over. However, they didn't get any bids at all, despite the fact that they are paying the transfer fees and they offered me the week for nothing and they will still pay the fees! They say they have recently bought a permanent home in Spain and no longer need there 3 timeshares (this is the cheapest one of the 3 - the others are at 5 star resorts and so the maintenance was too much for me).

I'm waiting for the documents to arrive but a doubt is in my head that this is as good as it seems but I'm going to wait and see what happens. I will check with the resort to make sure there are no outstanding costs but think this is all above board.

ar050806

Hi all,

We have been offered a timeshare in tenerife by a friend but we are not sure about transfer fees etc and what else is needed, we know the annual maintenence cost but thats about all!!
Can anyone please give us some advice????

Thanks

budgetflyer

There will be a transfer fee payable to resort maybe around £100 ish. It is also better getting a solicitor to do the closing and ensure clean title-ie no debt attatched. This will typically be a couple of hundred too.Then theres your maintainance fees- mine are £280 per week, but thats July, and IMO you cant get quality accom anywhere for even double that July/Aug.

You can register free with www.Dialanexchange.com They have bonus weeks to from £99 if you fancy an extra holiday too

Whatever resort, you can check typical resale prices at www.timeshare-hypermarket.com

Provided you buy right, use to its advantages and be aware of your obligations (ie yearly fees) Timeshare can be a great concept.

ince_mon

Mrs_Manero wrote: »

my parents have 'given back' their timeshare in portugal, because of spiralling costs. They are however being chased for maintenance fees, can anyone advise?

So they have "Given it back".If they have,they are very lucky.I tried for yrs to "give" mine back,they wouldn't accept it. They said they don't accept them back,never gave me a genuine reason.With maintainence spiralling.i just want to get shut.I think these days you can get decent accom almost anywhere,and i do believe timeshare is on it's way out.

ince_mon

Forgot to mention,we asked politely umpteen times would they take it back,they always said no.When i said i wouldn't pay the maintainence,they then became stroppy,threatening to take us to court. AND THEY CAN.

ar050806

budgetflyer wrote: »

There will be a transfer fee payable to resort maybe around £100 ish. It is also better getting a solicitor to do the closing and ensure clean title-ie no debt attatched. This will typically be a couple of hundred too.Then theres your maintainance fees- mine are £280 per week, but thats July, and IMO you cant get quality accom anywhere for even double that July/Aug.

You can register free with www.Dialanexchange.com They have bonus weeks to from £99 if you fancy an extra holiday too

Whatever resort, you can check typical resale prices at www.timeshare-hypermarket.com

Provided you buy right, use to its advantages and be aware of your obligations (ie yearly fees) Timeshare can be a great concept.

Thanks for this info, it has been offered by a friend as a gift so we are not paying anything for it, just the transfer fees and to get a NIE?????
So would we just have to pay the transfer fee of around £100 and get a NIE???

Thanks

Mrs_Thrify

Hiya, no one has mentioned the cost of the flights and transfer fee's so far???? i say that because oh and I have family who would dearly love to give us theirs for one floating week in Lanzarote(only). We have looked into it several times and when we add up the yearly upkeep and flights/transfer costs v £400 pp for a 2 wk package tour to Sc appartments nearer the sea front it makes us wonder.

JessicaF_2

We are members of RCI and have a week at a timeshare in Las Vegas - it is a gold resort and our week is mid April, so often falls for easter week (a red week)

We have never had a problem exchanging and our maintenance fees are very low, only £70 per year which is great. We only own a 1bedroom unit, but have had no problem exchanging to 2/3 bed units in other Vegas resorts.

I think it depends on where you own and how early you bank as to your exchange power.

We have enjoyed it so far at least!

Jess