Timeshare Selling Information
- Timeshare selling prices will vary greatly by whether it's a deeded property or simply a right to use property. A right to use property has an expiration date, after which you will no longer have any right to the property. A deeded property is the owner's forever, and is worth much more. Make sure you know what type yours is when you prepare for sale.
- Timeshares are rented for specific weeks of the year. Prime weeks often command a higher demand and price. Sellers often get discouraged when selling off weeks as they tend to sell for less then 30 percent of the original price. Prime weeks at the best resorts still usually sell for less then the original price.
- The location of a timeshare has a great correlation with its resale value. Prime vacation locations will bring the highest selling price. But some prime locations are flooded with timeshares for sale, causing the market value to decrease significantly. Beach locations and locations near amusement parks are in the greatest demand. Areas outside these prime locations will most likely not find buyers in the price range they are listed.
- When selling a timeshare you must consider the fees and commission involved. When listing a timeshare property with a broker or real estate agent, several fees could be involved. The commission is usually 6 percent of the selling cost. Most timeshare brokers also charge an upfront fee in addition to the commission. This is because a lot of timeshares never sell, so the broker makes money either way if they charge you a fee at the front end. You can list your own property on local want ads, Craigslist or eBay for a much lower price and without paying a commission.
- Beware of people trying to scam you when selling a timeshare. Some companies, promising a quick sale, will charge a large upfront fee. Then the timeshare is never sold or even advertised. If your timeshare is listed for sale and you're contacted by someone offering to sell your timeshare for you, it is quite possibly a scam. Research the company and contact the Better Business Bureau if you have any reservations about their trustworthiness.
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