A Step-by-Step Guide to Selling Your Timeshare

    There’s nothing like getting out of town and hitting your favorite vacation spot, but eventually, all good things must come to an end. If you’re a little over visiting and using your current timeshare, it might be time to get rid of it.

    If you’ve had a change in your life or just simply would like to head off to something new, selling your timeshare might be the obvious choice.

    However, if you’ve never had to sell a timeshare before it can be difficult to know where to start with the process.

    You have several options when doing this kind of sale and it can be hard to determine which one might be right for you.

    What do you need to know about selling your timeshare and what the process look like? Read on and we’ll walk you through what you need to know.

    Determining Timeshare Worth

    So, you’ve finally made the decision to buck up and sell your timeshare off to another entity or person. It’s a big decision, but you’ve come down and made it. Good for you.

    In order to take the next step, you’ll need to do a little research and determine your property’s value in order to ensure you’ll get a good price and fair price.  The last thing you want is to go through the whole selling process and get less than you really deserve for space.

    By the same token, you don’t want to list your timeshare so high that you end up getting no bites on it. 

    As you might imagine, the value and worth of your timeshare property will be based on a number of different variables. The size, location, and season in which you own the property will all contribute to the price that you’ll be able to sell the space for. 

    What resort space is a part of will also play a huge role.

    You should make peace with the fact that you likely won’t get as high of a price as what you paid for space, to begin with. Marketing plays a big role in the cost you ended up paying if you purchased from the real estate manager or resort itself.

    That being said, if you got the timeshare in your possession via a resale, to begin with, you can hope to get a similar price. At the end of the day, however, it’s important to recognize that timeshares are not an investment, and you should not hope to see an increase in value now that it is time to sell your property.

    How To Sell Your Timeshare

    When it comes to selling your timeshare, there are a number of different routes you can take. It doesn’t have to be just one pathway to success. What method of sale will be best for you will depend on your needs and your overall financial goals.

    There might be even situations where you don’t need to sell your timeshare. Some property owners gift their timeshare days out to friends and family as a present or rent ownership to those in their lives. This helps to cover the fees and allows you to still build up points!

    However, if you do go forward with the plan to sell, there are some options you’ll want to consider.

    Selling Back to the Developer

    In some cases, you may have the option to sell your timeshare back directly to the resort or developer that you purchased it from. In order to do this, the timeshare must be completely paid off and all maintenance in the space must be up to date.

    Even then, certain resorts might not be interested in purchasing the space back from you, even if they have a contractual first right of refusal. You’ll want to reach back out to the representatives of the resort to see if you can get an answer on their policy when it comes to buying property back.

    Connecting With Buyers

    Otherwise, your main option to sell your timeshare will be finding a buyer out there interested in taking over your vacation space. There are plenty of people out there who are eager and excited to experience what you have already done for the past years.

    The task at hand will be finding the best way to connect with these people and have them purchase and take over your timeshare contract.

    There are a number of services online that can help to connect you and your property with a buyer who might be interested. These services will have different requirements and many might require you to pay some fee to sign up.

    However, this can be certainly worth the investment if it ends up connecting you with an interested buyer. 

    There are also timeshare cancellation companies out there that advertise that they can get you out of your current contract with your timeshare company.

    However, the services these companies provide should be taken with a grain of salt – there are many scam services out there. it’s better to work with a service that will connect you with a brand new buyer.

    Selling Your Timeshare Fast

    Thinking about selling your timeshare? It doesn’t have to be too difficult. The above information can help you understand how this process works, from attempting to connect with a buyer to working with the resort that sold you space.

    With a little luck and effort, you should be able to sell your timeshare and move on to the next step of your life.

    Need more financial advice and information? Keep scrolling our blog for moe.

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