How do i get rid of my timeshare?

Hi,

I think you will struggle to sell. I owned a timeshare( bought in a moment of madness) and it was one of the sorriest mistakes I ever made. Mine was in the states and I desperately tried to sell it to no avail. In the end I just stopped paying the maintenance and they repossessed. End of. Perhaps that's something for you to consider.

Leanne

I don't think it will go against your credit rating over here.

A couple of years ago I went to the Sands beach in Lanzarote which was timeshare but one year they refurbished & doubled the maintenance fees. A lot of owners could not afford the double maintenance fees & lost their apts.

I,ve got one in Tenerife & going soon.
I'm also thinking of giving it up because there's only 2 of us use it now.
It is worth it if there's a family.

dampy78 wrote: »

Hi i mistakenly bought a RCI timeshare in malta a few years ago and would now like to surrender it.

How do i go about this as im about to lose my job and i cant afford to pay this years maintenance fee whatever it will be.

If anybody wants it i will let them take it off my hands for free!

Any advice would be beneficial

Many thanks

Do not accept any offers you might receive by cold callers offering to buy your Timeshare. Many of these are scammers and will ask for money upfront usually 1300 pounds/Euros. Any firm that asks you to travel overseas to buy your Timeshare Do not touch with a bargepole. Also be wary of adverts in the press offering to take Timeshare of your hands. These usually want you to buy into something else.
As more and more people are having difficulty paying the ever increasing maintenance fees, more and more of these scammers are cropping up.
So be careful.
I just walked away.

Basically walking away means just that. I stopped paying the maintenance fees and lost my membership. The only problem is the money you have paid for membership, but something had to give and at least I am saving over a grand a year by not paying fees.
IF you can sell, make sure that it is through a reputable buyer because you can still be landed with the maintenance fee if you sell to cowboys.
Remember that no buyer can guarantee a sale and any that do will be scammers.
Do any sale through your solicitor ie money is deposited with them, then the deeds are sent out. But even then, double check your account as it has been known for the money to go missing after everthing has been signed.
You get ripped of when you are buying, but there are even bigger rip of merchants out there when you try to sell.
For more info go to Timesharetalk forums. On there you will find the good and the bad.
Good Luck.