Whether your travel interests have changed or you’re simply ready to do away with maintenance fees, there are a number of ways to get rid of your timeshare. The options range from finding a buyer through a traditional sales process to giving it back to the developer you purchased it from. Ultimately, you’ll need to decide which option is best for your specific situation.
If you’re a timeshare owner who wants to sell your property, there are a few things you should know before starting the process. First, you’ll need to find out if your resort has a “right of first refusal” program. This allows you to sell your timeshare to someone outside the resort before submitting an offer to the resort itself. You’ll need to read your ownership documents closely to find out if this option is available for you and how to get it.
You should also check with the resort to find out what transfer fees it charges when you change ownership. This could make it more expensive to sell your property.
Selling your timeshare on the resale market can be challenging, but it’s not impossible. You’ll need to be willing to take the time to price your property well and market it effectively.
One of the most common mistakes that timeshare owners make is not pricing their properties properly. This is usually caused by a lack of understanding of what their timeshare is worth in the current market. It’s important to consider the time and money you paid for your property when deciding what to ask for it.
In addition, you should also factor in the value of your points and weeks when determining what your timeshare is worth. Many long-time vacationers bank their points to use them later on in the year or borrow them to take longer or more luxurious trips.
It’s also important to consider the demand for your timeshare and your resort. Brand-name resorts, including Disney, Hilton, and Marriott, tend to have more resale appeal than independently owned resorts with smaller audiences.
Once you’ve figured out what your timeshare is worth, you can start the resale process. You can list it for sale on a website such as eBay, or you can use a local resale brokerage to help you.
There are several reputable resale companies to choose from, and they can be a helpful resource for you. These companies will help you price your timeshare, advertise it to a targeted audience, and help you through the entire resale process.
If you’re considering using a resale company to sell your timeshare, be sure that the agent is licensed in your state and can legally represent you. You should also find out if the broker will subtract its commission from the final sale price.
Resellers can also be unreliable, so be wary of anyone who tries to charge you an upfront fee for their services. This can be a big red flag and should be immediately rejected.