Are you thinking of selling your timeshare but do not know where to start? Maybe you’re not using it anymore, or perhaps your lifestyle has changed and you’re not enjoying the same vacations that you used to. Whatever the reason, you may be wondering the best company to sell timeshare, how to sell a timeshare, and get the maximum value for it. Whether you’re selling your timeshare for personal use or using a resale company, these tips will help you get the best deal for it.
Selling a Timeshare
If you own a timeshare, you’ve probably wondered how to sell it. Perhaps you haven’t used it in years, or your lifestyle has changed and you’re no longer able to enjoy it. Whatever the reason, there are many ways to sell a timeshare for a profit. Experts can help you make the most of the sale and avoid incurring any transfer fees. Read on to discover how to sell your timeshare for a profit.
While you’re at it, take into consideration the many benefits of selling your timeshare. First of all, there’s the money! You’ll be glad you’re not stuck with an expensive timeshare. If you don’t enjoy vacationing much anymore, timeshares can quickly become a financial burden, especially for older people. And, if you’re on a fixed income, you may not be able to travel as much as you once did, or you simply don’t want to pay the maintenance fees anymore.
Next, there’s the resale value of your timeshare. While the resale value of timeshares is low, you might be able to get more money by selling your timeshare privately. But this isn’t always a guaranteed way to sell your timeshare. The fact is that most timeshare owners hope to get more money than they paid for it. So, before you attempt to sell a timeshare yourself, make sure you’ve prepared all of the necessary documents.
Another way to sell a timeshare is to list it in periodicals and online classifieds. Look for magazines and websites that cater to the timeshare location you are selling in. While selling on your own might be easier, you can hire a professional to handle the transfer details and get the best price for your timeshare. It will help your timeshare sell faster. And if you’re worried about legalities, hire an escrow company to handle the sale for you.
Then, determine whether or not selling your timeshare is the best option for you. You might decide to sell it because you’re no longer able to use it as much as you once did. If this is the case, you may consider part-exchanging or converting it into another type of vacation. For example, a family of four who no longer travels together could consider selling their timeshare for a profit. Holidaying outside the peak season is often cheaper than buying a timeshare at a price higher than the market value.
Negotiation Process
If you want to sell your timeshare, you must first decide that you want to do so. Some owners hesitate to sell their timeshare due to negative publicity surrounding the timeshare resale industry. Others just want to get rid of their timeshare as quickly as possible. The reason for your motivation will also determine the amount of money you can ask for and how quickly you can sell your timeshare. In either case, be sure to be patient and follow the negotiation process carefully.
If you are looking to sell your timeshare, you should first read the agreements that you signed with the developer of your property. The timeshare developer may have a right of first refusal that allows them to buy the property for a predetermined price. If this is the case, you should make note of this and ask for a lower price. This will help you avoid any unpleasant surprises later. However, you should also be aware of any legal obligations you signed.
The next step in the selling process is to research the market value of your timeshare. Check out what comparable timeshares in your resort have sold for. You can also check major timeshare websites or online auction sites to see what the average price has been for similar units. Try to find information on the closing sale prices of timeshares to use as a starting point for negotiation. If the seller wants to get top dollar, it is better to use the closing sale price of a unit rather than the listing price. This will reflect the actual value of the unit.
Depending on your financial situation, you may want to negotiate a higher price than you initially agreed on with the seller. You might even be able to negotiate part or all of your financial obligation. This will save you time and money and also help you to exhaust all options. However, you must remember that timeshare sales agents are not selling you help but only money. They know how to appeal to your emotional attachment and make your decision easier.
Managing Expectations
If you’ve been considering selling your timeshare, it may be time to read up on a few tips to help you sell it for top dollar. Managing expectations when selling a timeshare is crucial to avoid disappointments. It’s not uncommon to feel disappointed when you’re unable to get the value for your property as you’d hoped. While you may feel like you don’t have a lot of choices, there are ways to manage expectations and make selling your timeshare a smooth process.
The first tip to follow when selling a timeshare is to avoid meeting with an “OPC” (Outside Property Company) agent. During timeshare presentations, you can end up spending your entire morning and afternoon in one meeting. Be sure to set a hard stop before dinnertime or before the facility closes for the day. Likewise, avoid asking too many questions because it will just prolong the presentation and make the sales associate think you’re genuinely interested in purchasing the timeshare.
Using a Resale Company
Before using a resale company to resell your timeshare, you should know what they do and how they operate. The best way to determine whether the company will be able to sell your timeshare is to ask them what their marketing plans are, and if they have any refund policies. If you’re unsure of whether a company is legitimate, ask for references from satisfied clients.
While many timeshare resale companies claim that their services are free, beware. Even the most reliable ones may charge an up-front fee. In addition, keep in mind that these companies are not real estate brokerages, so they can’t handle contracts or negotiations on your behalf. They can also charge a commission, which is usually a hefty 40 percent. This is well above the normal resale market commission.
Another downside of timeshare resale companies is that they don’t provide instructions on how to rent or exchange a timeshare, which leaves many people frustrated and ready to give up their timeshares. Resale companies are made up of TUGGERS who have been doing this for years and are trained to help people avoid these pitfalls. They also offer a guarantee that your timeshare is in good hands.
When using a resale company, make sure you check for proper licensing. A timeshare resale company should be a member of the Better Business Bureau and have a good complaints history. The Better Business Bureau also has an “Online Reliability” designation. Look for this logo on a company’s website before choosing one. The FTC cautions consumers to be careful when using a resale company to sell a timeshare.
Pricing your timeshare competitively is crucial. Research the sale history section of the resort’s website, as well as completed listings on eBay or in classified ads to determine whether or not the price is competitive. Buyers are looking for the best deal, so a competitive price will increase your chances of a sale. It is also important to price your timeshare competitively. However, before listing your timeshare, check the current market price of similar timeshares in the same resort.
