Hello once again. I hope that the first guide was of some use to the 800+ viewers that have read through it. If you find this guide helpful then LET ME KNOW by pressing the button at the bottom of the page.
I have been watching various weeks come and go on Ebay and must say that there have been some fantastic deals. I have also spoken to one of two people who have purchased something that did not exist.
When purchasing a timeshare it is important to ascertain the following;
Is the person selling the timeshare, allowed to do so? i.e. do they own it, or are they in direct contact with the seller! To transfer ownership the owner of the timeshare needs to sign the ownership documents to transfer it.
Management/Maintenance Fees: With some resorts, owing more than one years management fees will be enough for them to take the week back. REMEMBER, if the resort takes the week(s) back, the former owner still has the transfer documents. However much you are spending on the timeshare, it is always too much to spend for nothing, get it checked out. Some timeshare resorts however, will let the outstanding amount build and build. If any clients owe management fees, it is likely that they are not able to use/book a week at the resort. It is important that you make sure there are no outstanding fees or that the seller makes you aware of the amount outstanding.
Every Year - Every Other Year Occupancy: When purchasing a timeshare it is also vital that you know if the timeshare is for use every year or every OTHER year. You may have seen that on some of the Travel & Leisure Groups listings, every other year weeks are available. This type of timeshare is suitable for some, but not for all. Before bidding on any timeshare week, ask the question.
Buying a Timeshare in the UK: UK timeshares exchange well, traveling costs are lower etc..many people want to visit the UK. Management fees in the UK can be expensive compared to Spain/Portugal and other popular destinations. It is important to know if the figure given includes taxes,sinking funds and any other additional costs. Ask the seller what the TOTAL amount payable was on the last invoice.
Transferring Ownership: Please keep in mind that the Transfer fee is usually higher through a re-sale company than privately. Some resorts can charge as much as double (these a very few). Also re-sale companies such as us, use Escrow which incurs additional costs.
OTE: This is the Organisation For Timeshare in Europe, they are the governing body for timeshare in Europe. Visit the OTE website for more information.
As always you are able to contact me/us for any help with the purchase of a timeshare or RCI Points. We are the Travel & Leisure Group our shop is the Tlasauctions.