8 Tips For Selling an Unwanted Timeshare

For years, timeshare properties have deemed an excellent vacation ownership opportunity for those who can travel every year. The ability to exchange owned weeks in for other weeks at affluent resorts in idyllic locations globally is also a huge perk which captivates countless of people into joining the timeshare community.

Be that as it may, if you are an owner and have found that you can’t afford your timeshare fees anymore, or if you feel that you don’t use it as much as you thought you would, then you might want to consider selling your timeshare by means of advertising it yourself, or by using a third-party company.

Here are some useful tips for you to take into consideration while selling your timeshare:

1) Start gathering all the documents you’ll need to sell your timeshare. This consists of the deed and other valuable documents like your last maintenance fee bill. Sell with a special warranty deed.

It is crucial to have all the required documentation in place so that buyers will have all of the information they need when making their decision to buy your interval.

Always know that having the most accurate, detailed information on your ownership can absolutely make a big difference between a frustrating, drawn-out selling process from that of a short, successful one.

Always know that having the most accurate, detailed information on your ownership can absolutely make a big difference between a frustrating, drawn-out selling process from that of a short, successful one.

2) Determine how much other timeshares are being sold for, particularly the ones which are identical to yours (i.e. same week number, same unit size, same amenities, etc.). From there, it is a lot easier to decide on a listing price.

You can do research on online, which is one of the oldest resale companies around. In fact, they offer a free market value survey on their website, which can help you narrow the price down even more.

(Related – 10 Financial Myths about Timeshares)

3) Contact the vacation ownership company your timeshare is part of, such as Marriott, Wyndham, Shell, etc., and see if the new owners can take advantage of the same benefits as you and if there are any other additional transfer fees to settle.

4) Make up your mind with regards to the price hinged on the data you have collected and the time in which you need to sell. After that, you can sell your timeshare with the use of a single or multiple methods.

5) You can advertise your timeshare using a newspaper close by the region where your timeshare is based or advertise in a local newspaper, though this method typically yields little to no results.

6) It is also very helpful to contact a title agency to deal with the transfer of the property; keep in mind that this is the same when it comes to selling a house.  The agency will have a contract which you can completely fill out and allow both parties to sign it.

The contract may be faxed for signatures; however, it is pivotal to double check with the title firm to be certain. The reason behind this is because regulations differ by state. Note that it is not necessary to work with a real estate agent to work with a title firm.

7) It makes sense to ensure that the timing in selling your timeshare is right. In a nutshell, it is important to list your timeshare at least a month or 60 days prior the beginning of the vacation season.

Bear in mind that the right period for this is when a large group of buyers is looking and from there, you are more likely to sell without a struggle in a short span of time.

8) Beware of frauds. Needless to say, wherever you go nowadays when it comes to selling, fraudulent acts are everywhere. So, you have to be very watchful in terms of scams for these are rapidly increasing in number online.

Scammers are widespread, especially during very difficult economic times. Essentially, it is vital to compare prices with other resale firms and make sure that you get every transaction in writing comprising of refund policies, contract terms, additional fees, marketing plans etc. prior to agreeing to anything.

If you need additional help with what to take into consideration once you’ve decided to sell your timeshare, we found this particularly clever infographic which offers, even more, advice.

Buying and selling timeshares is not a cakewalk. In general, patience is the trait that you need to possess during the process. Figuring out how to sell timeshare properties may be frustrating at first but if you try to be patient and proactive, the struggles won’t hinder you from a successful sale.

If you find that you just aren’t lucking out in trying to sell it yourself, we definitely recommend using a resale company like SellMyTimeshareNow.com which offers licensed real estate agents, effective marketing services, and affiliated brokers to help you find a buyer.

Resale companies can also help you in choosing the right price for your timeshare, which amenities will pass along to your buyers through resale, provide a closing company, and more.

Have you ever tried selling a timeshare? Which methods worked for you?