Guide on How to Sell a Timeshare
Before, you may have decided to purchase a Timeshare as a property for the family's vacation destination.
It may seem to be a good choice but things may have changed today.
It may be your lifestyle or the place you have purchased is no longer appropriate for the family.
It is either your family has grown and matured or you would rather spend your vacation somewhere else.
You finally decided to let it go, but how? You may be wondering how to sell a timeshare.
Is it easy? Will I be able to get my invested money? Unfortunately, the answer is no.
Selling a timeshare is never easy.
This is because the supply for resale timeshares greatly exceeds the demand for it.
Moreover, the value of these properties depreciates fast.
Actually, there are timeshares out there that have already depreciated to more than 99% or its value.
It is disappointing and depressing but these are facts that you should be aware of.
You better know what to expect.
Know the Resale Price.
Check the prices for recent timeshare resales especially if you do not have any idea how much you should sell it.
It may be hard to sell a studio type unit or resorts that were not properly maintained.
Though you may have a larger unit and a nice resort, you can only sell them to about 30%-50% from the original price.
If you are in a hurry to sell it, probably for financial issues, keep your prices low.
Do your homework.
You are expected to know everything to what you are selling.
There may be inquiries and information that a buyer would ask you and you should be able to answer them.
Also, organized and compile the important documents of your timeshare property.
These may include the mortgage details, the deed, and maintenance and tax records.
It is better to have them ready in case an interested party wants to inquire about them.
Use cost-effective advertisements.
The only two factors that you can control in reselling timeshares are the price and the advertisements.
Though you may have a low price, prospect will not notice of your property without an advertisement.
You do not need to spend so much on this.
You can use advertise them through free Internet ad posting or join a group and forums who are dedicated in this kind of services.
You can also spend a little amount to publish your ads in newspapers and magazines.
Choose brokers carefully.
To further expose your property in the market, you may want to have a timeshare broker.
This is a good option especially if you are in a rush of selling the property.
There are basically 2 types of brokers, those who are purely commission-based and the other is upfront fees + commission.
Though there are brokers who would want you to pay them $15 to $30 as upfront fees, mainly for advertisements, there are those who require you to pay them big amount.
Be careful with this kind of setup for they are prone in scams.
Remember, there are a lot of scammers that are waiting to take advantage on people.
They may victimize people who may not know how to sell a timeshare or those who are desperate to sell their property to accept their deal of paying a large upfront fee.
It is important that you yourself are equipped with essential information to protect yourself from being scammed.
It may seem to be a good choice but things may have changed today.
It may be your lifestyle or the place you have purchased is no longer appropriate for the family.
It is either your family has grown and matured or you would rather spend your vacation somewhere else.
You finally decided to let it go, but how? You may be wondering how to sell a timeshare.
Is it easy? Will I be able to get my invested money? Unfortunately, the answer is no.
Selling a timeshare is never easy.
This is because the supply for resale timeshares greatly exceeds the demand for it.
Moreover, the value of these properties depreciates fast.
Actually, there are timeshares out there that have already depreciated to more than 99% or its value.
It is disappointing and depressing but these are facts that you should be aware of.
You better know what to expect.
Know the Resale Price.
Check the prices for recent timeshare resales especially if you do not have any idea how much you should sell it.
It may be hard to sell a studio type unit or resorts that were not properly maintained.
Though you may have a larger unit and a nice resort, you can only sell them to about 30%-50% from the original price.
If you are in a hurry to sell it, probably for financial issues, keep your prices low.
Do your homework.
You are expected to know everything to what you are selling.
There may be inquiries and information that a buyer would ask you and you should be able to answer them.
Also, organized and compile the important documents of your timeshare property.
These may include the mortgage details, the deed, and maintenance and tax records.
It is better to have them ready in case an interested party wants to inquire about them.
Use cost-effective advertisements.
The only two factors that you can control in reselling timeshares are the price and the advertisements.
Though you may have a low price, prospect will not notice of your property without an advertisement.
You do not need to spend so much on this.
You can use advertise them through free Internet ad posting or join a group and forums who are dedicated in this kind of services.
You can also spend a little amount to publish your ads in newspapers and magazines.
Choose brokers carefully.
To further expose your property in the market, you may want to have a timeshare broker.
This is a good option especially if you are in a rush of selling the property.
There are basically 2 types of brokers, those who are purely commission-based and the other is upfront fees + commission.
Though there are brokers who would want you to pay them $15 to $30 as upfront fees, mainly for advertisements, there are those who require you to pay them big amount.
Be careful with this kind of setup for they are prone in scams.
Remember, there are a lot of scammers that are waiting to take advantage on people.
They may victimize people who may not know how to sell a timeshare or those who are desperate to sell their property to accept their deal of paying a large upfront fee.
It is important that you yourself are equipped with essential information to protect yourself from being scammed.
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