How To Sell A Timeshare

What to do with a timeshare you no longer want

Buying a timeshare property may have seemed like a good idea when you signed the timeshare contract. But if you're taking yet another " staycation " this summer — and really haven't been able to travel as much as you'd like the rest of the year as well — you may have realized that you aren't truly benefiting from your timeshare purchase.

Some people buy timeshares as potential investments. But that's often an unwise move , since timeshares aren't investments in the traditional sense, and they don't offer the typical benefits that, say, stocks or bonds might, such as price appreciation or dividends.

Many timeshares also don't function as traditional real estate investments either, since most timeshare buyers only own a specific and limited portion of a property for a specific week or month during the year.

That's why most people enter into a timeshare agreement simply to enjoy the privilege of having a vacation home at their disposal. Owning a timeshare, however, comes with a lot of inherent financial risks and may not always be your best economic move — especially in a slow economy.

Fortunately, you do have some options if you've signed a timeshare agreement and want to get out of it.

Here's what you can do to get rid of a timeshare you no longer want:

Review your agreement: You need to determine whether you have a deeded timeshare or a leased timeshare property. A deeded timeshare bounds you to the contract as an exclusive owner, while the leased timeshare means you are only the owner for a set number of years. If you have a deeded timeshare, you have the option to sell it to someone else. If you have a leased timeshare, you may have to keep paying your annual fees until the lease expires.

Consider renting it out: If you know you aren't going to be using your timeshare for a certain period of time, consider renting it out to somebody as a vacation rental for extended stays. In some cases, the rental fees you earn will be able to cover the annual maintenance fees you must pay on the timeshare. Just remember that, regardless of whether you use the timeshare or rent it to someone else, you'll still be responsible for maintenance costs and other fees as outlined in your initial timeshare agreement.

Check in with the company that manages the property: Some timeshare companies offer services for those who are interested in selling their timeshare, and they may even help to match you up with an interested party. They may charge a fee for this service — which will come out of the final sale price — but this could be an easier way to get that timeshare sold.

Selling Your Timeshare without the Fuss | Wv Dot

Sooner or later you should and will let go of your timeshare and look for timeshare resales . You have invested your time on it and have let it grow. Eventually you would realized that selling your timeshare is the next logical thing to do.

One thing that usually remains a fact is that your timeshare isn’t worth as much as you paid for it. Unless you bought a timeshare that’s really a bargain, this is the usual case. New timeshare usually costs more because of the marketing efforts put into selling them but the real cost is really just a fraction of it.

Like all decisions, it always better to start with researching and going thru various timeshare reseller websites. This step will help you find out how much your timeshare is worth. However, if you are not particular on how much you are willing to sell it for, you can go ahead and skip this step.

Ask for a realistic price and don’t expect too high when it comes to the selling price. A sale that may be difficult to achieve is if your unit is a studio-type or usage dates are during off seasons. While larger timeshare units can go up to 30-50% of its original asking price.

Naturally, if you’re in a hurry to sell, keep your price low. You may already be burdened with the costs and expense of maintaining your unit. Learn what you really have so you can begin naming the price you want.

Before selling, find out exactly what your timeshare entails you to have. Is it a right to use timeshare that you have or a complete deed of ownership? Iron out all the necessary paper works such as tax docs, mortgage information and so on.

You can concentrate on selling your timeshare once you’ve done all the previous steps. The Internet is always the best place to start for selling just about anything under the sky. The easiest place to go to on the internet to sell your time share locally or in a preferred area, is Craigslist.

An alternative to selling timeshare online is getting an agent or broker to sell your timeshare for you. Selling on Craigslist is absolutely free while a timeshare reseller will want a commission. Selling on the internet may be cheaper, but your cost in terms of your time will be consumed as you only have yourself to market your timeshare.

Another option to consider is to try the sales office of the timeshare if it is still available. Your chances of getting it sold there is highest if the kind of timeshare you have is still available for selling. The other methods of selling timeshare won’t compare to this in terms of the time it will take.

The Everything Family Guide to Timeshares, Buy Smart, Avoid Pitfalls, and Enjoy Your Vacation to the Max!

Protecting the Consumers of Timeshare Products

Timeshare vacations for dummies

Kiplinger's Personal Finance

Timeshare Condominiums for the Beginner