SELL YOUR TIME SHARE: When Time Is Up

2007-03-08 10:33:40

( Real Estate )



The concept of time share began in 1960’s when the rising prices of properties in Europe made it almost impossible for most people to buy full-time vacation homes. By selling time share, developers managed to reduce the property cost in order to market and sell it successfully to a larger number of clients.

In a time share concept, you get to own and gain access to a property for a specified period with specific duration of time. Time share sales encompass several types of property. You can sell your time share for recreational vehicles, cruises, campgrounds, and many others. The most popular property type for time-sharing however is resort condominiums.

Time may come however when owning a time share property is no longer as convenient as it used to be and can not fit your current lifestyle anymore. Mortgage, maintenance fees and taxes may have become a burden. Whatever the basis of your decision to sell your time share, you definitely want it to go to the highest bidder and close the deal soon. While this scenario is ideal, it is however typical for you to get back very little when you decide to sell your time share.

Pricing for time share reselling is a factor of what you own, when its usage dates are, and market competition. Time share prices also dramatically decrease when a property nears its expiration date. A studio type time share property with off-season usage dates may not sell as high as you want it to. The same goes for properties that are not well-maintained. Consider also other time share owners selling similar properties. If they are selling at a much lower price, then you already have an idea which ones will sell first.

An easier way to sell your time share would be via real estate agents who usually have listings of properties for sale in a given area. They are in contact with buyers more often so it is easier for them to find your ideal buyer. Just make sure that they are registered with the local bureau.

Hence, when you decide to acquire time share with a view to reselling it later on, consider first that recovery rate for such properties are generally low and not easy. Time share properties are for personal pleasures and leisure after all.


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