Be wary if a company offers to terminate your timeshare in exchange for considerable upfront fees. Even if they appear to have all your information, you can rest assured that no VOASA registered resort, holiday club or management company will hand over their database to any outside company.
No matter what reasons they give you, do not part with your money without doing a thorough background check to make sure they are reputable and licensed, or better yet – VOASA registered. The Australian Timeshare and Holiday Ownership Council (ATHOC) concurs that they have received the same complaints from their owners about these companies, indicating that this is a global operation targeting timeshare owners all over the world.
The complaints are that these ‘fringe operators’ take consumer’s money with the promise to sell their timeshare, but the sale rarely happens.
If a timeshare reseller is boastful about their sales, ask how much of it is from rentals versus actual timeshare sales as they usually combine their sales and rentals. And, if they are promising you results, see how likely they are to deliver by researching the other units available in your resort or at the destination. Be sure to compare a product that is comparable to yours – same resort, unit size, time of year and exchange parameters. These factors combined with the age of the product are some aspects that may determine price.
Alternatively, instead of selling or cancelling – why not consider renting your timeshare to recoup the cost? For more information on the rental options available to you, contact your Homeowners Association at your timeshare resort or your Holiday Club. But above all, always make sure that you deal with a registered member of VOASA.