Operational Procedure
Travel & Leisure Group act as brokers on behalf of private individuals who wish to buy or sell timeshare. Once we secure a sale, we follow the below operational procedure:
Sale Price Agreed by Both Seller and Buyer
We finalise legal searches on the timeshare to establish ownership, along with the owner’s right to sell. We also check property details to ensure the timeshare is free of all encumbrances and is available for occupancy by the buyer.
Stock is Clear for Sale
When we establish the above, we issue legal contracts to both buyer and seller. Should the stock not be clear, we will offer alternative stock.
Your Legal Protection
A cooling-off period applies to all sales under the EU/UK Directive. This also applies to the RDO Code of Practice. Travel & Leisure Group are members – because of this, you can be sure you benefit from legal protection. When the cooling-off period ends, full purchase monies become due. These are held in a trust account administered by FNTC until completion of sale.
Transfer of Ownership
Legal transfer of ownership can take approximately 2-3 months depending on the resort/developer’s process. Foreign Land Registered properties will take longer because of the need for input from foreign solicitors.
Completion of Your Sale or Purchase
Upon completion of sale, we submit the new ownership documentation to our independent solicitor. This in turn activates the trust account, which releases the monies to the seller, commission to our company, and ownership title to the buyer.
