Selling a timeshare the smart way

2007-03-08 10:33:40

( Real Estate )



A timeshare is a holiday or vacation ownership. It is pre-purchased vacation time for a specific number of days at a certain resort. The first timeshare programs started with an individual purchasing the right to stay three days at a specific resort on a certain date every year. Since then, timeshare programs have evolved with timeshare owners given plenty of options and a lot of flexibility.

A timeshare is an investment in superior vacations, not a real estate investment, and therefore does not appreciate in value. This means that a timeshare resale buyer gets the same benefits but at a cost much lower than the original purchase price.

When your vacation investment no longer suits your current lifestyle, you are no longer interested in your chosen timeshare destination, or maintenance fees, taxes and mortgage cause financial problems, you may resort to selling a timeshare. Selling a timeshare is difficult because the need for timeshare resales is extremely low compared to the number of timeshare resales in the market. However, with a little hard work and smart selling, reselling a timeshare isn't at all impossible.

When selling a timeshare, the most important thing is to make sure you understand what you are selling. Educate yourself on how to sell a timeshare, timeshare sales, timeshare resale and timeshare leads. You must be prepared to answer any queries a potential buyer may have regarding your timeshare. Do you have a RTU or Right To Use timeshare for a specific number of years or do you have an ownership deed on the property? These are some questions you have to answer. Gather all documents related to the timeshare such as tax records, maintenance information and mortgage details.

Next, check the current market price of timeshare resales for your timeshare destination. Get in touch with a resale broker for pricing information or check your newspaper's classified section. Trade your timeshare at a competitive price or even a bit lower, if you really want a sale. You can offer the best deal by checking closing sales prices, not for sale listings. Remember you are competing against timeshares in other sales listings.

Selling a timeshare also entails informing prospective buyers of your offer through advertising. There are many methods of cost-effective advertising, one of which is the internet. Post ads on various online travel, sales, marketing and news groups for free. You can also contact your timeshare resort who may allow you to post an ad in their newsletter, bulletin board or around the hotel premises.

You can also choose to enlist your timeshare with a real estate agency. This will save you the hassle involved in trying to sell a timeshare yourself. However, most agencies deal strictly on a commission, while others charge instant fees aside from a commission upon sale of the timeshare. Commissions and fees vary but are normally higher than real estate transaction fees. If you choose this option, check several agencies and find out if they are accredited timeshare dealers.


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