Quick Guide to Selling the Timeshare Like Pro

By | July 24, 2020

Don’t you want to use your timeshare? Does the maintenance fee of the timeshare have started to pile up? Or does the change in lifestyle have made it difficult to hold onto your timeshare? There may be many reasons which may lead you to sell your timeshare. 

Some people believe that having vacation ownership is better than having the timeshare property. So, it’s easy for you to know that the market for selling timeshare has increased in recent years. There are so many points that you need to keep in mind before you sell your timeshare and the value of timeshare depends upon the usage of it. If you are using your timeshare entirely, then its value will be increased, and you can get good money for selling it. However, if you are not using the timeshare property to its fullest, then it is not worth it, and the selling amount will be decreased.

Whatever be your reason for selling the timeshare, you need to find the best way to sell a timeshare by following steps given below:

  • Revisit Your Contract

You need to first start by digging the original contract of your timeshare. You need to check all the paperwork that is related to the timeshare to see at how much you bought the timeshare or any other details. These details may include location, name of the resorts, number of bedrooms, bathrooms along with their size and description along with other amenities included with your timeshare. You have to see whether you have the actual deed of the timeshare property or have the right to use the agreement. If you have the deed of the timeshare, you need to be sure that the resort company holds these deeds. You need to get the physical copy of the deed of the timeshare. You even have to determine whether you visit the property on quite often or weekly, monthly or yearly. It is good to check with the resort about the resale process of the timeshare.

  • Research the Value of Timeshare

Before you start thinking about how to sell your timeshare, you need first to know the worth of your property. You cannot trust the word of the original salesperson altogether as you cannot view timeshare property as the investment. Say, for example, if the sales of the timeshare work out, then you cannot expect to get all the money put in the timeshare. Many owners wish to return the timeshare to the resort without exchanging the funds. It is good even if the owner does not get any money because they don’t even have to pay any recurring fees also. You need to check whether you have paid all the money for buying the timeshare or are you still paying it. If you are paying the loan, then you need to be sure that timeshare is kept as a mortgage to secure the loan or not. Suppose it is then it’s quite impossible to sell the timeshare. You also have to be sure that all the incidental payment, maintenance, HOA and other fees are up-to-date because you don’t want to get caught if you have not paid it. You have gathered information about other timeshares in the market that are square footage and have the same number of bedrooms and bathrooms.

  • Try Selling the Timeshare

How to sell your timeshare? It is quite a challenging task that requires your utmost attention and patience. One must take the help of certified professionals for selling their timeshare as selling these complex properties require not only specific knowledge of the property but also have access to the market. While looking for the real estate agent to sell your timeshare, you need to check their background and look for their experience in selling the properties. Check whether the agent or timeshare listing company who have promised to help you in selling the timeshare is genuine or scammers. There are lots of scammers who are there to take advantage of you where you are desperate for selling the timeshare. So, one should be cautious of the agents and listing companies who are willing to guide you while selling your property. 

Don’t forget when you get the potential buyer for your timeshare, you need to do the background check to confirm they are genuine people. During the selling procedure, you need to double-check all the paperwork to see that there is nothing wrong with it. Contact the advocates as well as agents to get you a good deal for your timeshare.

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