With useful tools such as the internet and social networking, selling a timeshare is easier now than ever! There are many resale sites available that will allow you to list your timeshare along with its details and photos for a small fee or completely free. Look for sites that specialize in real estate or timeshares if you can find them. It only takes a little searching.
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Selling your timeshare
When selling your timeshare, one of the most important steps is finding an appropriate agency that specializes in selling timeshares. Some agencies may ask you for a fee upfront and then promise you results if you pay it. Don’t believe it! Selling your timeshare should never require an upfront fee unless it is a minimal fee ($15-$30) to list your timeshare in an online website or publication. The agency is there to help you with selling your timeshare, so if they are confident in their ability to do so, they will not require an “administration fee” or any other terms they may call it.
Sell my timeshare now
You’re ready for action and want to sell your timeshare now! The first step is to do the necessary research first, such as what timeshares are going for (pay close attention to timeshares near the location of yours) and then set a reasonable price. Currently there is a surplus of timeshares for sale as most people are not buying them at this time. Set your price to the lower end of what consumers are currently paying for timeshares and you will have much quicker and more quality results.
Selling timeshare property
It’s likely you did not have or need an appraisal when you bought your timeshare property, so selling your timeshare property should not require an appraisal either. There is no need to spend a lot of extra money—after all you wouldn’t be selling the property if you didn’t want to walk away with some money! Cut your costs as much as possible by listing your timeshare independently and without the use of lawyers and agencies. The internet has made selling easy even for the most business-challenged individuals. The best tips for selling timeshare property is to emphasize the location, demand, season, and the price.
Rent my timeshare
Even though timeshares have great benefits, there may be times when you simply aren’t able to be there for your week(s). This is why renting your timeshare can be an excellent option for you. Timeshare renting sites enable you to enter in every last detail of your property, complete with multiple photos and descriptions in order to give potential renters a real-time view of your timeshare. Many of these sites literally purchase or drive targeted traffic to your listing so you know potential renters are constantly viewing your timeshare. There are sites that do not contain listing fees, although it’s best to do your research and find a site that appears successful regardless of whether or not there is a listing fee.
Anyone that has tried selling timeshares in the past can tell you it’s not the easiest of things to do. In fact, without the right knowledge and guidance, it can seem nearly impossible. Unfortunately, the timeshare market is driven almost exclusively by supply and demand. When you are sitting in a high pressure presentation being fed steak and lobster, the demand for a timeshare is high. When you are interested in selling your timeshare, demand suddenly seems non-existent. If you are considering selling however, there are a few things to consider first.
Should You Sell Your Timeshare?
Before you decide to sell you timeshare you need to come to terms with the fact that if it was purchased directly from the resort or builder, you will most likely lose about 75% of your buying price when you sell. While some people may not be willing to take such a huge loss, you really need to consider if it makes sense to continue paying maintenance fees on a property you may never use. Sometimes its best to cut your losses if you have the chance to.
What Are My Alternatives To Selling?
If you are considering selling your timeshare, the first thing you do is at least use it once. Clear the time in your schedule however you can and see what you may have been missing the past few years. Taking a visit to the property will either reassure you that you do want to sell, or make you decide that its in your better interest to simply make an effort to utilize it more often. By being able to get your money’s worth out of your investment, the thought of owning a timeshare might become a positive one.
One of the other alternatives to selling a timeshare is to consider renting out your alloted time each year. You can usually set the rent at a rate that would cover any expenses you pay each year towards timeshare fees and maintenance costs, allowing you to essentially break even. Since you’re not putting any money out of pocket, this may be a viable option.
What Research Should I Do Before Listing?
The main thing you need to look into before deciding to list your timeshare for sale is what other similar properties have gone for in the same area in the past year or so. This will give you a better idea of what price you can realistically expect to get for your timeshare, as well as an estimate of how long you can expect the property to sit on the market for.
Do I Need To Use A Realtor?
While most people prefer to have a professional’s advice when trying to sell a timeshare, there are many ways to handle the sale yourself. Several websites exist that are specifically geared towards individuals wishing to rent or sell their timeshares. Some people have even been able to sell their timeshare back to the property itself. Also, never underestimate the power of word of mouth. Tell all your friends, family members, and co-workers about the property. Even if they aren’t interested in it themselves, they may know someone who is.
If you are not comfortable handling the advertising, negotiating, and sale of the timeshare yourself, a Realtor is, in fact, your best bet. There are many that specialize in handling timeshares and vacation properties. They would also be more familiar with the ins and outs of part-time properties than traditional realty offices.
The Bottom Line Is?
You’ve visited your timeshare and realize it just isn’t something you could get enough future use of to justify the ongoing expense. You aren’t willing to deal with the hassle that may come from renting your timeshare out just to break even every year. You understand you may take a loss, but also know you won’t have the added expense going forward. You’ve made your decision whether you want to list the property yourself or have a professional do it for you. If you’re going to try and sell it yourself, get started. If you prefer to rely on a professional Realtor, start making calls now to find a specialist in your area.