Want To Sell Your Timeshare? Read These Tips First.

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!)

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 Check with the developer whom you originally made the purchase through.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. You have to be realistic in your expectations.

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. Utilize the many resources to help you reach as many interested prospects as possible.

Besides your obvious choice of timeshare brokers, check out other industry type agents who might be in touch with those that would be interested in a timeshare. Two great examples are travel agents and real estate agents. Travel agents prospects are those people who travel. Timeshare opportunities are interesting to those that travel. Real estate agents have prospects who already understand the value of owning versus renting. That’s another valuable resource.

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 selling and try an alternative.

Because timeshare resell value is so low, it may be better financially to keep it and do your best to gain the value back each year. As an example if you rent it out each year that may end up being a way to get more of your money back then selling it. It will take more time, but you will not lose as much money. Another option is donating the weeks you do not use to a charity where you can write the donation off (check your accountant first!)

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.

Learn more about all things related to get rid of a timeshare: Stop by Emil Yau’s Hub Pages where you can find out all about selling a timeshare and other useful timeshare information