Timeshare owners buy timeshares for many reasons. Some are hoping to use it as a yearly vacation spot for their family. Others simply see it as a bargain and an alternative to a hotel room. Whatever the reason, they soon find that years go by and they have yet to use their timeshare; maintenance fees are now a burden. So, owners turn to the difficult task of selling their timeshare, but for much less than they originally paid.
If you are going to sell your timeshare you will want to price it competitively. Find out everything you can about the unit so that you can begin posting attractive ads. You will also need to be ready to answer questions a potential buyer may have regarding the property. If you are lucky, you may be able to sell your timeshare for about 10% of the unit's original price.
You have many options when it comes to advertising your timeshare for sale. First, try listing it with a real estate agency. You can either try local agents in your area or list it yourself using online services. Keep in mind that some of the online services charge a listing fee while others allow you to list for free.
If you go with an agent, they will figure in some type of commission just as they would when selling any other property, like a home. Commission in the selling of a timeshare tends to be higher than the commission in the selling of traditional real estate. Always interview numerous agents and ask a lot of questions before signing any type of deal. It is also a good idea to search for a company with the Better Business Bureau to see if they have any complaints.
Contact your timeshare resort to see if the developers offer a resale program. The salespeople often have access to potential buyers. They may be willing to work with you to help you find a buyer. Ask a salesperson at the resort what some of the recent resale prices have been and compare them to what you have to offer. Keep in mind that if you are part of an association for timeshare owners you may be able to post classified ads with that club.
There are several websites you can post ads on if you decide to try selling the timeshare without an agent or salesperson. Online sites like Craigslist allow users to post for free.
Other sites like, Time Sharing Today (www.tstoday.com), have a wanted classified ads section. You can browse here to see if someone is looking for what you have to offer. Redweek.com is a site for individuals looking to rent, buy or exchange timeshares. They advertise that over one million users frequent their site so this increases your chances that someone will take an interest in your timeshare. It is free to browse the site, but on the other hand, there is a small fee for posting in the classifieds.
EBay has a real estate section where you can list your timeshare for sale. A good listing strategy when listing with EBay is to view prices from similar timeshares. Remember to compare prices on units that sold and units that did not sell so you will know how to competitively price your timeshare. Bidshares.com is another auction website that allows you to post your timeshare for sale.
You will need to make sure you have all the necessary documents that are associated with your timeshare once you find a buyer. This includes the original mortgage contract, tax records and maintenance records. |
