Timeshare - How To Sell Yours
Resale Do's and Don'ts Do If you have any business relationships … companies often purchase vacation weeks to use as incentives for top sales performers, executives, etc. If so, ask for the statistics on past resales. Check with other owners at your resort. Those who own the weeks before or after you may wish to purchase more time.
Rent or Sell My Timeshare | RedWeek
Check with local licensed real estate brokers who handle resales check the real estate or classified section if you have purchased in a resort area. If you find one, expect commissions to be in the 10 to 30 percent range. You may also find a broker in your hometown, but he or she may not be that familiar with timeshares. Run ads in the real estate or travel sections of newspapers in the resort area or your hometown.
Research advertising costs in national publications that have an emphasis on travel and leisure. If you'd like to try selling it on your own, some timeshare management companies or homeowners associations may offer free advertising in a newsletter or website, according to the American Resort Development Association, an industry trade association.
You can also advertise your property for sale on sites like Craigslist or eBay for no or relatively low fees.
You can also advertise in real estate or travel sections of newspapers and websites dedicated to timeshare resales, but you may have to pay a bit more. Advertising fees can vary from a few dollars to hundreds, so make sure you understand the cost and for how long your advertisement will run. If you find a buyer, you will have to go through a process similar to selling a home.
Related: Losing money on a timeshare? You could also try contacting the company that manages or developed your property. Most high-end companies with timeshare properties, such as Marriott or Hilton, will help broker a resale, though you will likely have to pay a significant commission, said Reed Frasa, a New Jersey-based financial planner.
Be sure to ask about any restrictions or transfer fees related to selling your property. If you look for an outside "timeshare resale" service to help you find a buyer, proceed with caution. The Federal Trade Commission warns consumers to only use a reseller who doesn't ask for payment until after a timeshare is sold.
How do I sell my timeshare?
Some other red flags, according to the Better Business Bureau, include unsolicited contact from a reseller, claims of eager buyers "waiting in the wings," and promises of a profit. Some companies also offer services to help frustrated owners donate their timeshares to charity, but this avenue also often requires thousands of dollars in fees. While the companies advertise the prospect of a tax write-off, the amount you can legally deduct as a charitable donation is based on the property's "fair market value," which in saturated markets could be nothing at all.
- Why is it so hard to Sell a Timeshare?.
- Osez être vous (French Edition).
- What Happens if I Turn My Timeshare Over to the Resort? | Home Guides | SF Gate.
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