You once dreamed of owning your own vacation home, where you could make lifelong memories with loved ones. But timeshares come with annual maintenance fees, which can add up quickly, making them a costly investment. Plus, many buyers end up regretting their timeshare purchases. That’s why it’s important to consider all your options before you decide to sell your timeshare.
Many sellers choose to work with a licensed timeshare resale broker, who will help you determine the right selling price for your unit. You can find a reputable broker by asking for references or checking with the Better Business Bureau, and by choosing one that doesn’t charge upfront fees.
A good timeshare resale broker will have in-depth knowledge of the timeshare resale market landscape, and will know how to price your property correctly so it can attract potential buyers. The broker should also handle all aspects of the resale process, including negotiations and closing. It’s best to avoid a company that charges you upfront, because this may be a red flag for a scam.
When it comes to selling a timeshare, the most valuable assets are pictures and videos. High-quality, professional-looking photos can help you stand out from the competition and generate more interest in your listing. Make sure you capture the most appealing features of your resort, like beautiful beaches or snow-capped peaks. You’ll also want to include as many details as possible, including the type of timeshare you own (deeded or RTU), the week of your stay, and other relevant information.
Remember, your listing is competing with other similar properties on resale websites, so it’s crucial that yours is competitively priced. The price you list should be based on the current value of your timeshare, and not what you paid for it. A good way to determine the value of your timeshare is to compare it to comparable homes in the area that have recently sold.
Whether you’re selling a deeded or point-based timeshare, your listing will attract more potential buyers if it is an attractive destination. Generally, brand-name resorts in popular vacation destinations like Hawaii, Las Vegas, Orlando, and New York City have more resale appeal than independently owned resorts in less desirable locations.
If you’re struggling to sell your timeshare, it may be time to call the resort and ask if they will buy back your ownership. This option can save you the hassle of posting your timeshare for sale online and corresponding with interested buyers.
However, keep in mind that a resort buyback is typically worth 30 cents on the dollar or less. If the offer is less than you’d like, it might be worthwhile to continue trying to sell your timeshare. If you’re able to generate a lot of interest and get a decent offer, then you might be able to sell your timeshare for what you paid for it originally. Otherwise, you may be better off renting out your timeshare for the year or two until you can find a buyer.