The truth is that 85% of timeshare owners end up regretting their purchase. This is mainly because people’s tastes change, or they decide that the expense of a timeshare is not worth it, or they simply need the money that they are paying in maintenance fees for other things. It is these reasons that many of the larger branded timeshare companies now have programs in place to help owners who wish to sell their timeshare.
There are also some people who buy their timeshare and never use it at all, perhaps because they got a really persuasive pitch from a sales person, or perhaps because they just weren’t that into vacations. These people, however, have a much harder time selling their timeshare because they have a financial asset that is not being used and a huge liability that is draining their bank account with maintenance fees.
Timeshare resales are also difficult to sell because, unlike real estate, they do not depreciate in value. This is because new units are constantly being built and sold to first-time buyers who are willing to pay high sale prices for their timeshares. These new purchases then drive down the resale prices of those existing timeshares that are put up for sale.
It can be very difficult for the owner to determine how much their timeshare is actually worth, because the market is flooded with sellers. The reality is that a timeshare that cost the original buyer thousands of dollars will only sell for a fraction of that amount on the resale market. Those who have purchased a timeshare from a resort and then find out that they have been misled about the value of their investment may feel that they would like to get their money back, but the chances of getting it are very slim.
If a person is looking to sell their timeshare, they should be very cautious about companies that claim to have a buyer lined up for it. The resale market is full of scammers who will take advantage of timeshare owners who are desperate to get rid of their ownership. These companies will typically contact the owner out of the blue, often claiming that they have been given their name and number by their home resort or their holiday exchange company, ARDA, or some other supposedly trusted group. This is called a cold call and it should always be avoided.
The best way to sell a timeshare is to work with a reputable resale company that will handle all of the legal and administrative details involved with the sale. The resale company will be able to help the seller determine what they are selling, how much their timeshare is worth, and get the listing out to a broad audience to maximize the chance of making a quick and profitable sale. The resale company can also make sure that the transfer is completed correctly and legally, avoiding any issues that could cause future problems for the seller.