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Buying or selling Timeshare - Operational Procedure

We act as brokers on behalf of private individuals who wish to buy or sell Timeshare. Once a sale is secure we follow the procedure outlined below:

  • Buyers pay a deposit to reserve the property.
  • Purchase monies are deposited in a solicitors clients account in Escrow until completion of sale, or in Trust in a Clients Bank Account mostly for clients abroad.
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  • On receipt of the deposit we finalise legal searches on the Timeshare to establish ownership and the owners right to sell, together with property details and RCI/II/Dial An Exchange.
  • Balance of contractual sum is due in 14 days from day of deposit.
  • When stock is cleared for sale we issue legal contracts to both buyer and seller. Should the stock not be cleared the deposit is refunded or alternative stock offered.
  • Legal transfer of ownership can take approximately two/three months depending on the constitution of the resort sold. Foreign Land Registered properties will take longer.
  • A cooling-off period applies to all sales under the Code of Practice of the RDO (Resort Development Organisation - formerly the OTE)/UK Timeshare Council of which we are resale broker members.
  • On completion of sale we submit the new ownership documentation to activate the Escrow Trust account, which releases the monies to the seller, commission to our company and ownership title to the buyer together with the Travel & Leisure Club Lifetime membership and Dial an Exchange membership.

 

 
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