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How to Buy a Timeshare in Spain

- Updated: 06/04/2013
How to Buy a Timeshare in Spain

Much has been written on the subject of timeshares over recent years, most articles only representing the more 'newsworthy' horror stories of families who have fallen victim to heavy handed salesmen, or those who have been taken advantage of by criminal organisations.

Undertandably, this has given the industry as a whole a bad name and caused many potentially interested buyers to shy away from such an investment

Timeshares still offer a substantial saving on purchasing a holiday home in Spain - providing of course, you have a good understanding of not only What a Timeshare is, but the whole legal process.

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We asked Raquel Perez from Perez Legal Group to tell us more....

Invitations to view timeshare properties

Prospective buyers are often presented with an opportunity to purchase a timeshare when they receive invitations to view a resort property. Most of these invitations will offer you the opportunity to stay at the resort for the weekend.

This has been an effective sales tactic in the past.

Whilst you are being shown all the wonderful amenities of the timeshare, the sales person will push for the sale because they work exclusvely on commissions. They can show you what is available but do not rely on them for the information necessary to make an informed decision. You must bear in mind that the commissions and salaries of those working are included in the cost of the timeshare.

Timeshare resales

The resale timeshare is another alternative, and one that may not be offered to you at the start of the enquiry process. The business offering the timeshare will be the intermediary that connects the buyer and seller.

IF you are looking into resales please please consider the following:

1.) Are the fees being added to the timeshare process necessary ?

2.) What fees apply that are not included in the timeshare price ?

3.) What are the other fees such as the title, state transfer taxes, unique resort evaluations, and maintenance fees ?

4.) When it will the property be available for you ?

5.) Find a (Independant) lawyer who can carry out the necessary searches on the property.

Timeshare law

If you are buying a timeshare that is covered by the timeshare laws, you must be provided with the following information in writing:

- Name of the company or person selling the timeshare

- Timeshare development or resort name and address of the owner

- Where the property is located

- Length of time the ownership will last

- Legal rights and obligations in the country where the purchased timeshare is located

- A description of the property

- If you have the right to join an exchange or resale program and if there are any costs involved

- The purchase price of the timeshare you have purchased including all additional fees as well as an estimate of the charges for maintenance and repairs and management of the development

- The date and place where you should sign the agreement.

If you feel that you need further details regarding the written information that you are required to have when buying a timeshare that is protected by timeshare laws, you should contact an independent consultant, for example, the Citizens Advice Bureau.

If the timeshare you buy does not come within the timeshare law framework, or if you have purchased a membership to a holiday club, you will not be entitled to the same rights and privileges.

Thanks again to Raquel Perez from Perez Legal Group for clarifying this situation.

NOTE : Changes to the law regarding the sale of timeshares in Spain come into effect 19.03.2012, which you can read about by clicking HERE .

Comment on this Article

 
This website is the best I have come accross. Thank you once again I will check, and take your advice ..Graham ..
Graham Hamley - Tue 14th Jan 2014
Graham : Be careful not to fall into the trap of thinking too logically here : Is she a registered Lawyer - Yes. Does this mean that the service offered is legal and above board - not necessarily. Are there any legal guarantees or protection if things should go pear shaped - undoubtedly not. Even if they have a point about not being regsitered in Spain v UK, they should still not be cold-calling you ! - You can check her credentials by contacting the 'Consejo General Abogacia' - on www.abogacia.es for further info
Tumbit - Admin - Tue 14th Jan 2014
Thank you so much for your swift reply regarding Fastline Legal. I asked them why they were not registered in the UK with the FCA and they said "Why should we be, we are in Spain" They tell me their lawyer is Ma Del Carmen Rodriguez Manas Licence No; 4524. Is there any way to check these credentials..Thank you once again..Graham...
Graham Hamley - Tue 14th Jan 2014
Graham : We are aware of Fastline Legal Services, and there are many reports of their cold-calling practices offering such services on the numerous forums on the internet (It is perhaps telling that there are also NO reported cases of them ever being succesful in making any such legal representation). Equally so, the FCA has issued a 'warning' that the company is not regulated or registered to trade in the UK - assuming of course that they cold-called you when you were in the UK ? Also, and again assuming that they did, you must ask yourself what kind of Legal Practice cold calls these days... In short, they are a recognised legal practice in Spain, but not one that seems to be particularly well-recommended, according to reports.
Tumbit - Admin - Tue 14th Jan 2014
Fast Line Legal Based in Malaga,are offering to reclaim money for me that was lost in a Timeshare Scam some years ago. They say they are registered with the Spanish financial authority and give a number CIF B93206894. Where can I check if they are legitimate...Thank you
Graham Hamley - Tue 14th Jan 2014
I would like to buy more than a week in Spain on the sea and my favorite period from June to October If found please let me know
Mishal Soud - Mon 9th Sep 2013
There are good timeshares out there, as well as there are people who feel happy about their timeshare purchases, especially those who enjoy to vacation at the same place and are not spontaneous travelers. Unfortunately, due to the big number of timeshare scams being committed against many vacationers, the industry has gained a terrible reputation.
Yaneli Roberts - Thu 27th Jun 2013