What You Should Know About Selling Time Shares

2007-03-08 10:33:40

( Real Estate )



A time share is a piece of vacation property owned by a number of people, and whose operational costs and usage are shared between the owners. Time share sales are common with resorts; however, they can also be sold for camping grounds, motor homes and boats.

Selling time shares need special attention. Selling to the first interested party is not advisable because if you are not careful, agencies can take most of your money from the sale of your vacation property.

There are many agencies that can sell your time shares for you; however, you should do a thorough background check before fully placing your trust in them. It is best that you check with your local business bureau as to the reputation of the agency before you ask them to sell your time shares. You should keep away from agencies that request for their service fee in advance. Payments for service fees from selling time shares should only be given after the actual sale has been made.

The location of the resort, the time of the year and the actual resort all affect the price when selling time shares. Therefore, it is suggested that, when considering the selling price of time shares, a fair market price be given. In order to obtain a fair market price for time shares, you should make inquiries on the current selling price of other similar time shares in the vicinity of your vacation property. This can be done by requesting for such information from the resort, or using the real estate records of neighboring properties. An appraisal company can also assist you with evaluating the value of time shares; however, you will need to pay a certain fee for their service. Appraisers can be found on the Internet or your local phone directory.

After you have decided on your selling price, you should then find an agent to assist you in selling your time share. Aside from selecting an agent, you can also produce an ad in the local newspaper or within the resort through their bulletin boards or their club newsletter.

Selling time shares cannot always amount to a profit; oftentimes, time shares are sold at a much lower price than your original purchase price. You should therefore compare different selling options before finally deciding to sell time shares to the party of your choice.


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