Want To Sell Your Timeshare? Read These Tips First.

Many people would agree that it is much easier to purchase a timeshare unit than selling it after it has been purchased.

When you are buying a timeshare, you get loads of invitations in mails; get courtesy calls and emails to attend a timeshare presentation. They offer you bounties and favors in return for attending a presentation. Why all this? To convince you buy a timeshare. Buying is as easy as making a simple inquiry and many companies come knocking to your house to sell a timeshare.

Has this ever made you think how easy it is to resell one once you have purchased it? The honest answer is it definitely is not. You need to already compete with the timeshare organizations and all the resources they have for selling. This also means you will have less means to find buyers and that you will possibly sell for a loss. This is why it is smart to not think of timeshares as monetary investments. They are great investments if you plan to use them, but they are not wise for financial reasons only.

Most people who buy a timeshare property do know this going in and plan to use the vacation, but it is not uncommon that unforeseen issues come up which force owners to resell their unit whether that is financial hardship or even just scheduling issues permitting them to ever use their purchase.

For that reason, I wanted to write my five tips which will hopefully ease the burden of selling your timeshare unit.

1. Check with the developer whom you originally made the purchase through.

Some developers offer buyers a buyback option. Some developers also offer resell assistance as well. If that is not the case, they may also point you to an associated licensed broker that can help handle resells.

2. Get realistic about your options for resale.

Do not expect wonders. It is a bitter truth that timeshare properties do sell at less than their original price. Not only that, it may be difficult to resale as well especially if it is in a not so popular destination, is a small unit for example a studio and if the time of use is in an off season. It might be a challenging task to sell a timeshare like the one discussed above. But in case of a property which is located in popular vacation destinations, is reasonably big and offers usage during peak season might sell easily. But again even if the property sells it might sell at 30-50% less than its original price. So be prepared mentally about that, think that it is like your car which depreciates with each passing year.

3. Be creative and consistent in using resources with ready prospects.

Besides your timeshare agents, check out both real estate agents and travel agents. Timeshare ownership would be interesting to both those who have seen value in purchasing real estate as well as those who like to travel. Just be ready to pay a finder’s fee or commission. And if these agents do not ask for one, be nice and offer one.

4. Find Buyers On Your Own Online.

The internet has no shortage of classified advertising opportunities or auction opportunities. And many of these will be very cheap or free. Craigslist and Ebay are two giants off the top of my head but there are many more you should be able to find with a little internet digging.

5. Reconsider keeping your property and trying a few alternatives for the weeks you miss your vacation.

Depending on the reason you are selling your timeshare, you may want to rethink it. Timeshare resales will only be maybe 50% of your purchase price. Instead of selling, you could rent it out every year which takes some time but it is doable and you may not lose as much money in the long run if you rent it out every year. Another option is donating your timeshare week to charity. So if you go on vacation once every five years, perhaps the other four years you can donate a week to charity and have a healthy write-off (consult your accountant!).

After reading this article I hope you are able to have a good and quick sale. You may end up finding it more financially constructive to see if you can rent your unit every year instead of selling it. Whichever you choose, I wish you well.

Want to find out more about how to buy or sell a timeshare, then visit Emil Yau’s blogs sites to learn more about a timeshare information.