Tips On How To Sell A Timeshare
January 16th, 2010 by Danny Ricks
Owning a timeshare is a good vacation destination for you and your family. At the time of your purchase, you may be thinking that getting a timeshare is a great investment. But things may have change since then. It can be that your family has matured enough and the destination place does not suite your taste anymore. It could also be for financial issues that you are deciding to sell your timeshare.
Selling a timeshare property is never easy. I should say this to you so that you yourself can manage your expectations. It is tough simply because the demand for timeshare resales is much, much lower compared to the available supply of it. Together with the fact that our economy is not that good also, the value of timeshares depreciates fast, some actually over to 99%. It is sad and depressing, yes. But these are facts and you should be aware of it. So, you would ask, how to sell a timeshare? Is it ever possible?
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.
Know Your Property. It is essential that when you are trying to sell something, you need to know all about it. Always be sure that you understand what you are trying to sell. In timeshares you may want to file the necessary documents such as mortgage information, the maintenance details and the tax records.
Know How to Advertise. In selling timeshares, there are only two factors that you may be able to control – your advertisement and the price. A good advertising can increase your chance of finding a prospect buyer. You may do it in a very cost-effective manner such as placing free ads in Internet websites, or pay small prices for newspaper and magazine ads. There are forums and groups that are dedicated in buying or selling these properties so you may want also to check it out and promote your timeshare.
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.
It is better to equipped yourself with proper information and knowledge regarding how to sell timeshares. It is for you to protect yourself from scammers who are waiting out there to take advantage of your need to sell your property immediately. You may be in a hurry, but it is not an excuse to allow them to use you for their personal gain.
When you , it is not easy as disposing a regular property to the buying public. You need to know the mechanics to close a sale. And you can do that carefully yet surely. You may also want to consider to
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- 1 Comment »
- Posted in Hotel And Travel
June 22nd, 2010 at 5:33 am
This is a great post I found your information to be very helpful. I’m just starting to get involved with timeshares. I guess the this is as good of time as any as I love to vacation with my family and it make more sense to buy a timeshare then going to hotels and resorts. I just would to say thanks for the great post and I’ll keep reading you future posts.