1) DO Know Exactly What You Own
Before you sell timeshare, it is important to understand exactly what you own and, thus, exactly what you are selling. If you have not used your timeshare for several years, you may want to review your deed, right to use (RTU) agreement or the terms of your vacation club membership. Before attempting to sell your timeshare, you should answer the following questions and gather the corresponding paperwork and information.
A Note to Our Readers: If you have lost the Deed for your timeshare, do not fret. You - or the company who handles the closing of your timeshare sale - can usually attain a new copy from the county courthouse where your resort is located, for a small fee.
2) Do NOT Pay For An Appraisal
One of the myths perpetuated by some companies and real estate agencies is that you need to pay for an appraisal in order to sell your timeshare. You don't. And, frankly, it's a waste of money. What you do need to do is research on the resale market to see for what price other properties similar to yours are being advertised and sold.
Because we do not want timeshare owners to have to pay for a comparative market analysis or appraisal, we are offering a free market value survey to our website visitors. Speak to one of our timeshare resale specialists – with no commitment to advertise with us – and find out what your timeshare is actually worth right now.
3) Do NOT Expect to Make Back What You Spent
Remember that resort timeshare properties do not appreciate in value or even retain their original value. Unlike traditional real estate, you will very rarely get as much back as you spent on your timeshare. In fact, according to Howard Nusbaum, President and Chief Executive Officer of the American Resort Development Association (ARDA), "owners trying to sell unwanted timeshares can still expect to get back only fifty cents to seventy cents on the dollar."
The reason for this sharp depreciation in value rests in the hands of timeshare resort developers. If you originally purchased your timeshare from the resort, you likely paid a marked-up price well above the actual market value in order to cover the developer's extravagant marketing and advertising costs.
4) DO Price Your Timeshare Resale Competitively
The true secret to selling timeshare resales is price. If an expedient sale is your primary concern, our experts will advise you to price your timeshare week at or just above the lowest price you're willing to accept. Even if a fast sale is not your goal, pricing your interval at or below the fair market value (at or below the price of other similar or identical properties on the market) is the only way to sell it. With so many resale properties currently available, pricing your timeshare aggressively is a shrewd way to differentiate it from others like it.
Get more timeshare resale pricing tips from our CEO.
5) Do NOT Expect an Immediate Sale
Any company that claims they can sell your interval week within a set time-frame, is trying to scam you or to pressure you into advertising with them. No one can accurately guess exactly how long it will take to sell a timeshare. The market is constantly changing, demand and availability constantly fluctuate and it all varies depending on property specifics such as where your timeshare is located, when your usage week falls and what your timeshare resort has to offer consumers.
One thing you can be sure of is that your timeshare resale will not sell if it is not exposed to as many potential buyers as possible. Typically, timeshares that are located in popular destinations like Florida or Hawaii, those that are located on the ocean and those that have golf courses on-site are the most popular among consumers. However, even if your resort does not offer these features, chances are there is someone out there who is interested in buying your vacation property, probably for the same reasons you did. All you have to do is find them. Working with a resale advertising company like Sell My Timeshare NOW that draws thousands and thousands of international buyers to its website daily is a smart decision. (See Sell My Timeshare NOW's verified third party web-traffic statistics - click here.
Visit our Seller FAQ for answers to the most frequently asked questions about selling timeshare on the resale market.
View the most recent offers to buy and rent timeshare advertised through Sell My Timeshare NOW.
Learn more about our resale advertising services.
Ready to sell your timeshare? CLICK HERE or call (877) 815-4227 today!