Owning a timeshare is a good vacation destination for you and your family. At the time of your purchase, you may be thinking that getting a timeshare is a great investment. But things may have change since then. It can be that your family has matured enough and the destination place does not suite your taste anymore. It could also be for financial issues that you are deciding to sell your timeshare.
You may be wondering how to sell a timeshare. Is it easy? Will I be able to get my invested money? Unfortunately, the answer is no. Selling a timeshare is never easy. This is because the supply for resale timeshares greatly exceeds the demand for it. Moreover, the value of these properties depreciates fast. Actually, there are timeshares out there that have already depreciated to more than 99% or its value. It is disappointing and depressing but these are facts that you should be aware of. You better know what to expect.
Know the Resale Price. Check the prices for recent timeshare resales especially if you do not have any idea how much you should sell it. It may be hard to sell a studio type unit or resorts that were not properly maintained. Though you may have a larger unit and a nice resort, you can only sell them to about 30%-50% from the original price. If you are in a hurry to sell it, probably for financial issues, keep your prices low.
Do your homework. You are expected to know everything to what you are selling. There may be inquiries and information that a buyer would ask you and you should be able to answer them. Also, organized and compile the important documents of your timeshare property. These may include the mortgage details, the deed, and maintenance and tax records. It is better to have them ready in case an interested party wants to inquire about them.
Though you may have a low price and are knowledgeable with your property details, you will not be noticed by prospect buyers unless you have an adequate advertisement. Remember, there are only two factors that you can control in reselling industry - it is the advertisement and the price. Advertising needs not be expensive. There are a lot of cost-effective ways of advertising your timeshare. You can do it online, groups and forums or even newspaper and magazine ads.
Choose brokers carefully. To further expose your property in the market, you may want to have a timeshare broker. This is a good option especially if you are in a rush of selling the property. There are basically 2 types of brokers, those who are purely commission-based and the other is upfront fees + commission. Though there are brokers who would want you to pay them $15 to $30 as upfront fees, mainly for advertisements, there are those who require you to pay them big amount. Be careful with this kind of setup for they are prone in scams.
Innocence can lead you to failure. Always equip yourself with essential knowledge and information regarding this stuff. Doing so will protect yourself from people who would want to take advantage of your situation. - 33387
You may be wondering how to sell a timeshare. Is it easy? Will I be able to get my invested money? Unfortunately, the answer is no. Selling a timeshare is never easy. This is because the supply for resale timeshares greatly exceeds the demand for it. Moreover, the value of these properties depreciates fast. Actually, there are timeshares out there that have already depreciated to more than 99% or its value. It is disappointing and depressing but these are facts that you should be aware of. You better know what to expect.
Know the Resale Price. Check the prices for recent timeshare resales especially if you do not have any idea how much you should sell it. It may be hard to sell a studio type unit or resorts that were not properly maintained. Though you may have a larger unit and a nice resort, you can only sell them to about 30%-50% from the original price. If you are in a hurry to sell it, probably for financial issues, keep your prices low.
Do your homework. You are expected to know everything to what you are selling. There may be inquiries and information that a buyer would ask you and you should be able to answer them. Also, organized and compile the important documents of your timeshare property. These may include the mortgage details, the deed, and maintenance and tax records. It is better to have them ready in case an interested party wants to inquire about them.
Though you may have a low price and are knowledgeable with your property details, you will not be noticed by prospect buyers unless you have an adequate advertisement. Remember, there are only two factors that you can control in reselling industry - it is the advertisement and the price. Advertising needs not be expensive. There are a lot of cost-effective ways of advertising your timeshare. You can do it online, groups and forums or even newspaper and magazine ads.
Choose brokers carefully. To further expose your property in the market, you may want to have a timeshare broker. This is a good option especially if you are in a rush of selling the property. There are basically 2 types of brokers, those who are purely commission-based and the other is upfront fees + commission. Though there are brokers who would want you to pay them $15 to $30 as upfront fees, mainly for advertisements, there are those who require you to pay them big amount. Be careful with this kind of setup for they are prone in scams.
Innocence can lead you to failure. Always equip yourself with essential knowledge and information regarding this stuff. Doing so will protect yourself from people who would want to take advantage of your situation. - 33387
About the Author:
When you sell a timeshare, it is not easy as disposing a regular property to the buying public. You need to know the mechanics to close a sale. And you can do that carefully yet surely. You may also want to consider to buy timeshare
