Many people would agree that it is much easier to buy a timeshare than to sell it again.
Just consider how much time, effort, and money timeshare organizations put forth to get people to just come to a sales presentation.
Besides all the contacting and calling, once you are there you can get a lot of free gifts and rewards just for attending the presentation.
We have received personally gifts up to $200 worth just for attending (not to mention the free brunch!) But, have you ever wondered is selling a timeshare as easy as buying one? The harsh truth is no.
Reselling a timeshare can be a real pain in the neck.
That is why many experts advise not to buy timeshare as an investment.
It is never going to rewards you with the returns of a real estate property.
It is an investment in your life, dreams but not for financial returns.
Even with this in mind, many people still find themselves in this pickle.
Often people will purchase the unit with all intents to use it.
But unfortunately things may happen which force owners to resell their unit whether due to financial issues or even just scheduling issues which end up causing them not to be able to use their vacation time.
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 timeshare developer who sold you the timeshare.
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.
Make sure you do your research on value.
This means you should do some research of the vacation spot your property is in.
Know what the going prices are.
You also will want to study your documents to know if you have a deeded property or a right to use property.
Right to use units will tend to have a lower resale value.
Knowing this information will help you know better how to resell your unit.
3.
That also means having realistic expectations.
Even though a timeshare unit is considered real estate, the resell value is more like a used car than a used home.
Even if your property is in the most desirable location and during the most desirable season, it still may only sell for half the purchase price.
So make sure to go into your selling campaign with realistic prices and goals.
4.
Utilize those that already have prospect lists.
The easiest person to get on your side would be a real estate agent.
Real estate agents already have ready prospects from those who have bought and sold with them.
Many of them have an email list where they could easily send out your offer.
The second easiest person would be a travel agent who also has a ready set of clients who like to travel.
It would be quite easy for the agent to plug in the timeshare property to their prospects, especially if, as a travel coordinator, get to book the airline tickets for said travel and any rental c 5.
Reconsider.
The last reason is to just reconsider selling your timeshare.
If you can put out the time, you will probably keep more money if you look for a renter each year that you do not use your timeshare.
If you end up selling your timeshare for roughly 50% of what you bought it for, that doesn't seem like a great proposition.
On the flip side, I bet you will have few problems finding renters if you lower the rent to 75% of the actual cost.
Another option is to just donate the week.
Donate to friends, relatives, maybe in a charity auction where you can write off the value for that year.
And who wouldn't want to win in an auction, say, a week's stay in the fabulous destination that is your timeshare property.
As you mull over these decisions, make sure to take some time and do your research, and consider all my tips above.
I hope that these tips will be helpful for you when it comes time to sell your timeshare.
After your research you may end up finding it more financially acceptable to try to rent your timeshare every year instead of selling your timeshare.
Whichever route you choose, I wish you luck.