Get Rid Of Your Timeshare Before It Bleeds You Dry

Posted on July 30, 2008
Filed Under Real Estate |

If you felt pressured when you purchased your timeshare, it’s likely that you will want to get rid of your timeshare. You may also want to make your money back. There are many reasons why you may not get to enjoy your weeks as often as you want.

Therefore, getting something back on your investment is a high priority. Timeshare resales are a market all by themselves. How exactly do you go about selling yours?

If you’ve done any research on the subject of timeshare resales you have no doubt come across a company that will do it for you. At least, they claim that they will do it for you. While there are some reputable companies out there that will do it, beware of scams. One way to tell if the company is a scam is if they ask you for any upfront fees to sell your timeshare.

Companies make money to dump a timeshare, but you have to watch out for some of them. Some companies will ask for “appraisal fee” or a “processing fee” and say they have a number of buyers lined up for the property. Whatever you do, do not give these companies your money. Instead do a little research and find a company that isn’t going to ask for money upfront.

Once you decide whether you’re going to sell it yourself or employ someone else to, you have to determine your asking price. What sounds like a good number? Everything that you invested? Don’t get your hopes up.

If you bought a time share from the developer, you likely paid full price. The resale of the timeshare will likely be much lower than what you paid - even up to one third the original purchase price. The reluctance of new buyers to pay full price after maintenance fees is among several factors that reduce how much they are willing to pay.

First of all, you might have overpaid for it in the first place. If you took whatever the initial asking price was, then you paid much more than you should have. Another reason is that you can’t duplicate the high pressure sales presentation that the developer can. You can’t really afford to bring hundreds of people in for “free vacations” or employ salespeople.

Therefore you should resolve yourself to the fact that you’re not going to get what you paid for it in most cases. You can research what comparable weeks are selling for on several websites. E-Bay auctions timeshare resales and there are several databases with recent sales figures. Decide on a figure that you feel comfortable with after doing some research and go for it.

Once you decide, there are a number of places you can list it. There are many active websites that list timeshares for sale around the world. These are good and you might try an e-Bay auction as well.

The greater your adaptability the better, regardless of the process you use in your attempt. Experiment with a variety of rewards until you discover what’s effective. Keep in mind that timeshare properties are sold daily and your property may be one of them, regardless of how you get rid of your timeshare.

Tags: Real Estate

Get Rid Of Your Timeshare Before It Bleeds You Dry

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