A timeshare is a vacation ownership in which a group of people share the use of a property, usually a resort, for a certain amount of time each year. Timeshares are a popular way to vacation. You probably bought into the concept with the best intentions; after all, who wouldn’t want a holiday home available at a moment’s notice? However, if you no longer have a use for it, trying to sell your timeshare can be an uphill struggle. You may have even tried to give it away but found that potential recipients were reluctant to take it on. So, how do you get rid of your timeshare? Here are some tips that will help you exit your timeshare once and for all.
Table of Contents
- Estimate How Much Your Timeshare is Worth
- Find Out How Many People Are Currently Trying to Sell Their Timeshares
- Timeshare Exit Fee and Resale Value: What You Need to Know
- Write Up an Agreement For the Sale of Your Timeshare
- Choose the Right Company to Sell Your Timeshare
Estimate How Much Your Timeshare is Worth
The first step to selling your timeshare is to get an idea of what it’s worth. You can head over to websites like Timeshare Exchange to see how much other people are selling their timeshares for. You can also check how much your timeshare is currently listed for on resale websites. You can also try checking out classified ads to see how much people are asking for similar properties in your area. You may find that the timeshares in your area are listed for a lower price than the ones in different areas. Once you have an estimate of what your timeshare is worth, you won’t have to accept a lower offer from someone who really doesn’t want it.
Find Out How Many People Are Currently Trying to Sell Their Timeshares
In addition to researching the market, you should also find out how many people are trying to sell their timeshares. This will give you an idea of how competitive the market is. If there are a lot of people trying to sell their timeshares, it means there’s a high demand for them and your timeshare will be harder to sell. On the other hand, if there are only a few people trying to sell their timeshares, it means the timeshare resale market is hot and your timeshare will be easier to sell. If you know how many people are currently trying to sell their timeshares, you can use that information to negotiate a higher price for your timeshare.
Timeshare Exit Fee and Resale Value: What You Need to Know
Before you sell your timeshare, you need to know how much you’ll have to pay in exit fees. Every timeshare company has a different policy when it comes to exit fees. You should check your contract to see what they require of you. If your timeshare company requires you to pay an exit fee, you’ll have to pay it before you can sell your timeshare. This is one of the biggest roadblocks to timeshare resale. Fortunately, there are services out there that can help you negotiate the exit fee down. If you get the exit fee reduced, you’ll have more money to put towards the resale value of your timeshare. The higher the resale value, the easier it’ll be to sell your timeshare.
Write Up an Agreement For the Sale of Your Timeshare
If you want your timeshare to sell, you need to honest and provide as much information as possible to potential buyers. Being honest about your timeshare from the start will help you attract the right buyers and sell your timeshare faster than you would otherwise.
If you’re using an online resale website, you may be asked to write up an agreement for the sale of your timeshare. You can include all the details that you would otherwise be asked to provide verbally. This will help buyers feel more confident in their purchase and will make it easier for you to sell your timeshare. Make sure you read the fine print. Some sites will require you to include certain details, and others won’t let you post unless you’re completely honest about your timeshare. Free examples of what a timeshare agreement looks like can be found online.
If you’re posting on a classified website, you may be asked to write up a short sales pitch instead. You can use bullet points to highlight the best parts of your timeshare.
Either way, the more information you can provide potential buyers, the easier it will be to sell your timeshare. You want to provide all of its positive aspects and any potential issues it has.
Choose the Right Company to Sell Your Timeshare
If you want to hire a company to help sell your timeshare, make sure you do the research. Not every company is created equal when it comes to timeshare resale. In fact, some companies are known for being scammers, taking your money and leaving you with nothing in return. The best way to find out which companies are trustworthy and which ones you should avoid is by reading reviews online. If you’re having a hard time finding reviews, the Better Business Bureau is an excellent resource. You can find out what the general consensus is on different timeshare resale companies by searching their name on the site. You can also use review sites like Yelp or Google to find out what other people have to say about the companies in your area. You should also check whether or not the company has been approved by the Federal Trade Commission. If your timeshare resale company has been approved, it means they’re trustworthy and have been vetted appropriately.
If you want to sell your timeshare fast at the best price, you need to be honest about the positives and negatives. If you don’t want to be truthful about your timeshare, you’re only hurting yourself. If you’ve tried everything and still can’t get rid of your timeshare, you may have to bite the bullet and accept less than what it’s worth. Timeshares are generally less in demand than other types of vacation properties, so it’s unlikely that someone will come along and pay top dollar for it. If you want to sell your timeshare, you need to put yourself out there and be honest about it. You also need to be patient and persistent. It may take a while to sell your timeshare, but you can succeed if you follow these tips.