Timeshare properties are very common in the United States. A recent survey found that almost 10 million households own some kind of timeshare product.
When you bought your timeshare, you had visions of regular vacation getaways and relaxation. But, things in your life changed a bit and now you don’t have as much time to go on vacation.
But, getting out of your timeshare ownership isn’t as easy as you’d think. If you’re looking to sell your timeshare, we can help! Keep reading for our top 10 tips for selling your timeshare.
1. Pick the Right Listing Price
Chances are, if you put your property on the market at the price you owe, you’ll have a hard time finding a buyer. Check around and see what similar properties in the area are selling for.
2. Know Who You’re Selling To
Selling your vacation timeshare isn’t like selling a house. You’re selling to companies most of the time and no one will come to do a walk-through of the property.
3. Look for Brick and Mortar Companies
When you’re interested in doing business with a company, do your research. If the company has a brick-and-mortar business address, that’s a sign of a legitimate business.
4. Watch Out for Scammers
Not only for timeshare owners, one of the best pieces of financial advice is to avoid scammers like the plague. If you don’t, they will take up all kinds of precious time and could end up tricking you out of your money.
5. Avoid the Exit Companies
When you get ready to sell a timeshare, companies come out of the woodwork trying to get you to pay them a large fee to sell your property for you. They’ll promise they can sell your timeshare, but may not ever do that!
Owners selling timeshare properties should avoid exit companies and their exorbitant fees.
6. Don’t Answer Cold Calls When Selling Your Timeshare
After you put your property on the market, you’ll notice your phone line getting popular. Companies that call you out of the blue often don’t have your best interests at heart.
7. Put Any Agreement in Writing
One of the most valuable pieces of timeshare advice is to get everything in writing. That way there’s no chance for confusion or miscommunication about the agreement later.
8. Beware of Guarantees
Some companies advertise a guaranteed sale time frame. This is a lie! There’s no way to guarantee your property sells in a specific time frame.
9. Guard Your Personal Identity
Any time you’re doing business, make sure to protect your identity. People desperate to get rid of their property often fall victim to identity theft.
10. Call in the Pros
If you’re still frustrated and unable to sell your property, it’s time to call in professionals to help. Think of it like hiring a real estate agent to handle the sale for you and take a cut.
Don’t Waste Any More Time on Your Timeshare
If you don’t get your money’s worth out of your timeshare, you might want to get out from under it. That way, you’re not wasting your hard-earned money on a property you don’t use.
Though trying to sell your timeshare isn’t always easy, you can do it! Keep these tips in mind to make the process as easy as possible.
We hope you enjoyed reading this article and that you learned some tips about selling your timeshare. If you’re looking for more great articles about business, travel, entertainment, and much more, check out the rest of our blog today!