Buying Timeshare

buying timeshare

Timeshare, also known as holiday ownership or vacation ownership, provides great value for money. You buy the right to spend time in high quality resorts, either for a fixed period or for life. You can use it or let friends and relatives use your week or weeks or rent it out.

Buying timeshare also gives you the opportunity to exchange your week with other resorts, letting you take your holiday time in another country or during another period. For this you need to become a member of an international exchange company, or joining a points club, so you have greater flexibility without compromising the quality of your holiday.

There is some assurance when buying timeshare that the standard of the accommodation is high and you can enjoy space rather than being confined to a hotel bedroom.

Regrettably, statistics show that many of these buyers cannot afford Timeshare and after paying good price for a week(s) they soon are faced with having to sell it for much less money.

But statistics also show consumers in the UK are showing an increased interest in buying Timeshare, particularly high quality stock such as Marriotts, Hilton, Devere and similar.

OTE members represent the best in European Timeshare and are committed to high service standards and integrity. They abide by an ethics code which ensures buyers have secure ownership and occupancy rights and that their payments are protected. We recommend that you buy from an OTE member.

How to buy Timeshare successfully

A large percentage of owners already enjoy timeshare holidays at resorts around the world – from large leisure complexes to quiet developments. Despite the bad publicity that Timeshare seems to attract, independent studies show that the majority of owners are satisfied or very satisfied with their purchase.

Buying Timeshare Tips

Establish if Timeshare is right for you, Timeshare is a flexible product with many options, so read the paperwork carefully to ensure you have made the right choice.

Cooling Off Period

In all European Union countries you have, by law, the protection of a minimum 14 day cooling off period.

Check the paperwork

The printed agreement or contract will include all your rights and obligations, so read it carefully. Ask for it in your own language to avoid misunderstandings.

Get a full description

Ask for full description – or Disclosure Statement – of the resort and any services provided. The contract should show your legal ownership rights and obligations, details of the management company and your management fees, whether there is an elected owners committee. The contracts of OTE members always comply with the EU Timeshare Directive and provide you with full protection. Timeshare Resort Directory

Buy from an RDO member

If at all possible buy your Timeshare from an RDO member. Members follow a strict code of ethics, which offers greater safeguards than the law demands and the rules and regulations are easier to enforce.

For more details on the RDO please click here