HELP!! How can I get rid of a unwanted Time Share??

khowe

As above - having trouble gettg rid of it?? Can't afford to keep the maintenance costs. Just sat in a 3 hour speal about paying £9k for these people to take it off me! Apparently receiving £18k in five years time?! Very suspicious?!

Am I postin in the right section??

Tojo_Ralph

khowe wrote: »

Just sat in a 3 hour speal about paying £9k for these people to take it off me!

It may help if you advised who these people are?

Mrs_Thrify

Hi Kh....could you tell us a little more about your time share?
I am asking as OH parents would like to give us theirs.....in Lanzarote (only)
They just want rid like yourself. We have seen it, we went for a visit last spring wile on a package holiday.My oh and I are now thinking of staying there for a week to see what we think. From what I can see, flights start at £300 each on the web for 23rd October ( hopefully will find something cheeper) then the cost of T/SHARE upkeep.

V

I can get a package holiday approx £400 p.p and go to diffrent places.
Thanks..

dzug

khowe wrote: »

As above - having trouble gettg rid of it?? Can't afford to keep the maintenance costs. Just sat in a 3 hour speal about paying £9k for these people to take it off me! Apparently receiving £18k in five years time?! Very suspicious?!

Am I postin in the right section??

You are totally right to be suspicious. If you have to pay someone upfront to sell it they are scamming you. You will never see the £18K - and you may not even have got shot of your timeshare.

You have to be prepared to accept a realistic (ie very low) price for it - second hand time shares are worth very little.

dzug

julie_d wrote: »

I can get a package holiday approx £400 p.p and go to diffrent places.
Thanks..

That's why time share and its ilk is a BAD idea.

nrsql

I'll sell it for you for £8000 and give you back £20,000 in 5 years.

If you want to go ahead just give me time to set up an offshore company somewhere unregulated.
The cashback is of course conditional on the company being in existence in 5 years time. Probably depends on how well I invest your money and if I can sell\rent out the timeshare.

All the hallmarks of a scam.
What was there to talk about for 3 hours other than repeating over and over "I'm honest, this isn't a scam, we're a reputable company, ...".

The question is - is it worth £9,000 to get out of the maintenance charges - and would you still be liable for the maintenance chareges?

soolin

A few months back in the Mail On Sunday Tony Hetherington in the Financial pages was suggesting setting up a service where people who had unwanted time shares could offer them free of charge to people prepared to take them on and sign up to take over the maintenance and other costs. He rather suggested that there was no real market for old time shares anymore purely because of the problems mentioned already in this thread, namely that package deals are often cheaper than the maintenance charges and flights.

If you are desperate it might be worth seeing if anyone is running this sort of service.

budgetflyer

I paid £700 for my 2 bedroom 2 bathroom, 2 wks (July) in the Canaries.
That is the reality Im afraid. Whether you think it is or it originally was worth thousands, the reality is, its only worth what someone is willing to pay (ie in my case, £350 pw)
Looking on www.ebay.com (USA site) theres lots available for as little as $1+ closing costs.
Lots of people dont want the burden of yearly management fees.

What is in its favour?
1. its often a better standard of accom than available elsewhere.
2.If you have lowish management fees, (mine are £280 per week owned),you can often exchange to accom that would cost much much more in high season
If you decide to sell, then
www.timeshare-hypermarket.com will market it for you.You can also do a search there to see how much similar resale weeks go for.
If you decide to keep it
www.Dialanexchange.com are a good company to use for exchange purposes.
Free to join, you only pay if you actually use the exchange. As a member, you can rent "bonus weeks" for as little as £99 too.

Another decent exchange co is www.redweek.com they work on a points system for valuing your week. ie, if your week is worth, say 800 points then you can exchange to any accom available up to 800 points. You can buy extra points for $1 a point if you see something you like valued higher than yours too.

Timeshare is a great concept if you play it right.
But, just like buying a car new, its a rapidly depreciating asset. There are 1000s of resale bargains from distressed or desperate sellers.