If you have a timeshare and you are considering selling it, you should know that it can be a complex process. You can use the services of a real estate broker, a reputable title company, or sell it on your own. All of these options can help you avoid the hassle and expense of handling the sale. But you will need to make sure that you are legally allowed to do so.
It is important to research the resale market to determine the true value of your timeshare. You might be surprised to learn that the value of a timeshare varies from one person to another. This is because timeshare owners typically are not getting their full value from their timeshare. In addition, timeshares rarely appreciate. That means that when you are ready to sell, you may be tempted to accept an offer that is lower than what you really want.
Selling privately can be difficult because it requires you to advertise your timeshare. Additionally, it can be expensive because you will need to pay a commission to the seller. Regardless of the method you choose, you will need to get professional advice to ensure you are not being scammed.
Another option to consider is donating your timeshare to a nonprofit organization. This can result in a tax write-off. However, donating your timeshare can also be a complicated process that includes a professional appraisal. Also, if you have a mortgage on your timeshare, you might have to pay off the balance before transferring it.
One of the easiest ways to sell your timeshare is to take advantage of the services of a reputable timeshare transfer service. These companies will handle the entire process. They will also usually handle the marketing and negotiation for you. By relying on a timeshare transfer company, you will eliminate many of the risks associated with attempting to sell your timeshare yourself.
A third way to sell your timeshare is to participate in an online marketplace. Online marketplaces will often require you to submit highly competitive prices in order to get the attention of buyers. This can be a great opportunity to sell your timeshare for a better price. Alternatively, you can advertise your timeshare in your local newspaper. Many newspapers will have a classified section where you can post your timeshare.
To ensure that you do not fall victim to timeshare resale scams, the Federal Trade Commission (FTC) has put together guidelines for avoiding timeshare resale scams. Timeshare owners should never respond to a cold call from a “buyer.” The buyer is likely to ask for hundreds of dollars in fees before you complete the sale.
There are other options available to owners, such as part exchanging or converting their timeshare into a new product. If you are interested in part exchanging, it is best to talk to a timeshare consultant at your resort before you begin the process. Some companies, such as the Holiday Inn Club Vacations Incorporated, will provide free assistance.