For many people, owning a timeshare is like a dream come true. Having the ability to spend a week here and there at some of the world’s most affluent resorts is something many people simply can’t pass up, and often winds up saving people plenty of money along the way. However, while these deals are usually well worth the time and money they require, there are instances when a timeshare needs to be sold. Whether it’s due to simply not being used enough, costing too much, or a variety of other reasons, selling a timeshare may not be as easy as its owner may believe. If you find yourself with a timeshare that needs to be sold as soon as possible, here are some tips that will help you get the deal done in the best possible manner.
Contact a Real Estate Agent
Just as it is when selling a house, it’s always a good idea to contact a real estate agent if you’re trying to sell a timeshare. If possible, try to work with an agent who specializes in timeshares, since they will often have a much more thorough knowledge of the market.
For Sale By Owner
If you can’t find a real estate agent you want to work with and think you can handle the job yourself, take the plunge and list your timeshare with websites specializing in For Sale By Owner properties. However, if you choose to go this route, remember to write a great, professional-sounding description and include as many photos as possible, ensuring your timeshare will appeal to plenty of potential buyers. More information about this can be found here.
Gather Your Documents
As with any major transaction, it’s important to have all your timeshare documents available to show a potential buyer. Not only does this include the deed, but other documents such as the last maintenance fee bill. By having as much information as possible on hand to show someone who may be interested in your timeshare, you may be able to have a smooth, quick sale instead of a long, drawn-out selling process.
Determine the Price of Your Timeshare
While you definitely want to get as much as you can for your timeshare, it’s important to not get greedy in the process. Therefore, before you put your property on the market, determine what other timeshares that are similar to yours and located near yours are selling for in the current market. By doing so, you can decide on a fair asking price and wait for the offers to start coming your way.
Ask the Resort to Buy Back Your Unit
If you are eager to get rid of your timeshare as quickly as possible and don’t want to wait for a potential buyer to find you, you can always ask the resort from which you made your purchase to buy back your unit. Surprisingly, many major timeshare companies do offer buyback programs, so this option is often a way to get rid of a timeshare quickly. However, you may not make as much on the sale as you would by selling to a private individual, so take that into consideration before using this option. For additional facts about buybacks, visit here.
Something for Nothing
For some timeshare owners who have little success selling their unit or simply are in a hurry to unload their property as soon as possible, they ultimately decide to give away their property. While this is not the preferred choice, it does provide a way to transfer ownership of the property and help an owner get out from underneath their debt. In these situations, the best path is to find a friend or family member to take over the timeshare, since most charities will not accept timeshares.
While in some cases it can prove difficult to sell a timeshare, by using any of these methods the selling process should be made much easier. Whether you decide to let an experienced real estate agent handle the sale or choose to handle each and every detail yourself, it’s possible to sell virtually any type of timeshare and make a substantial profit along the way.