Emille Traveler
Read These Tips First Before You Sell Your Timeshare
Many people would agree that it is much easier to purchase a timeshare unit than selling it after it has been purchased.
When you are buying a timeshare, you get loads of invitations in mails; get courtesy calls and emails to attend a timeshare presentation. They offer you bounties and favors in return for attending a presentation. Why all this? To convince you buy a timeshare. Buying is as easy as making a simple inquiry and many companies come knocking to your house to sell a timeshare.
Has this ever made you think how easy it is to resell one once you have purchased it? The honest answer is it definitely is not. You need to already compete with the timeshare organizations and all the resources they have for selling. This also means you will have less means to find buyers and that you will possibly sell for a loss. This is why it is smart to not think of timeshares as monetary investments. They are great investments if you plan to use them, but they are not wise for financial reasons only.
Even with this in mind, many people still find themselves in this pickle. Often people will purchase the unit with all intents to use it. But unfortunately things may happen which force owners to resell their unit whether due to financial issues or even just scheduling issues which end up causing them not to be able to use their vacation time.
So the purpose of this article is to help those who will be looking to resell their purchase. Here are five tips to help you make a successful sale.
1. Check with the developer whom you originally made the purchase through.
Sometimes the developers offer the original buyer an option to resell their timeshare back to the developer. If not find out if your timeshare is associated with a licensed broker handling timeshare resale.
2. Get realistic about your options for resale.
Unlike “traditional” real estate such as houses, homes, and condominiums, timeshare properties will often sell for less than the purchase price. That is the reality. You also have to consider the demand of your property: when is the vacation time, where is it located, what is the size. Even if your property is in a desirable location and during a popular season, it still may sell for one-half to one-third the purchase price. When it comes to selling your unit, think of it more like selling a used car then selling a house.
3. Be creative and consistent in using resources with ready prospects.
Besides your obvious choice of timeshare brokers, check out other industry type agents who might be in touch with those that would be interested in a timeshare. Two great examples are travel agents and real estate agents. Travel agents prospects are those people who travel. Timeshare opportunities are interesting to those that travel. Real estate agents have prospects who already understand the value of owning versus renting. That’s another valuable resource.
4. Find Buyers On Your Own Online.
The internet has no shortage of classified advertising opportunities or auction opportunities. And many of these will be very cheap or free. Craigslist and Ebay are two giants off the top of my head but there are many more you should be able to find with a little internet digging.
5. Reconsider keeping your property and trying a few alternatives for the weeks you miss your vacation.
Because timeshare resell value is so low, it may be better financially to keep it and do your best to gain the value back each year. As an example if you rent it out each year that may end up being a way to get more of your money back then selling it. It will take more time, but you will not lose as much money. Another option is donating the weeks you do not use to a charity where you can write the donation off (check your accountant first!)
I hope this has been helpful for you. After reading this you may find it a better option to rent your timeshare each year than to sell it. Either way whether you keep your timeshare or you sell your timeshare, I wish you luck.
About the Author
Looking to find hints on how to sell timeshare, then visit www.atimeshare.org, a site full of tips and advice related to all things a timeshare and more.
