Getting rid of a holiday product
When you buy a timeshare or a long-term holiday product in the EU, you always have 14 days’ right of withdrawal. If the seller has not informed you of the right of withdrawal at all, you can cancel your agreement within one year and 14 days. The right of withdrawal will also be extended in situations where the seller has failed to provide the information referred to in the directive, for example, on additional mandatory costs.
The seller must be informed of the cancellation in writing, for example by e-mail. The cancellation period is counted from the date on which the contract was concluded. The notification of cancellation has been made on time when the notification has been sent before the end of the cancellation period.
The holiday product does not correspond to the agreement
If incorrect or incomplete information has been provided about a site or service, or the service proves to be different from what has been agreed, you may also be entitled to cancel the purchase after the cancellation period has expired.
If false promises have only been made orally, they are usually difficult to prove. The sellers’ written terms and conditions of contract may differ from the promises made orally. In such situations, your chances of success are generally poor. If you consider yourself a victim of a crime, you can submit a request for an investigation to the police.
Prepare for loss on sale
A timeshare is a purchase that should be considered particularly carefully, as getting rid of the holiday product may be difficult or almost impossible. If you have purchased a holiday product in a presentation event, it is usually pointless to expect to get the same price for it as you paid. It is often worth preparing for a significant loss when selling it, as there is no well-functioning aftermarket for holiday products. Many items, especially club memberships, are difficult to resell at all.
Many problem companies also exploit the weak position of owners and make resale offers to them, looking to cash in. On the other hand, some companies may provide a service to remove the owner of the holiday share from the shareholder list. Such offers should be considered extremely critically. Never pay in advance for a service that has not yet been performed.
Watch out for cold calls that offer the opportunity to get rid of or change timeshares. It is not worth concluding a contract with a paid service that “helps get rid of a timeshare” or “already has a buyer”. This is not usually the case, so you will just lose your money.