Posted on May 29, 2012
Is it that time? Time to move on from the timeshare you bought from the resort when all you were trying to do was relax. Are we over the yearly fees, and another vacation gone by? Well then, it’s time to sell your timeshare.
Here are some tips for you when you decide it’s time.
Get Up To Date – First, make sure you’re current with all payments, taxes and maintenance fees, and any other resort payments that you make. Otherwise the resort may have an issue with you trying to resell your timeshare. The remaining balances could also come off your final monies received when you finish closing on the property.
Also gather all of the information that you have. Most resorts give their owners a large packet with all relevant information, including amenities, unit information, and your usage and availabilities. If your resort offers you any points or any type of point system, you should check and see if you’ve received any or are eligible for any.
Decide your timeshare value – You need to understand your timeshare’s value. To figure out the value you can either hire a property appraiser, a licensed real estate agent, or a licensed broker. Then they need to make an assessment on the property, create a comparative market analysis and go from there. Using an appraiser might end up being a long drawn out expensive idea, which is why speaking to one of our licensed agents is the best way to help assess the market value of your timeshare.
What are similar timeshares like yours going for? What are you looking to get from the sale? Do you want to make money, or are you looking to move on from your timeshare? Do you owe anything on your timeshare?
These are the questions you will want to ask yourself. Timeshares are generally worth what somebody is willing to pay for it. Since you’re looking to sell, why not see what other owners are currently selling timeshares for, and in what range. You can come up with some standard market value based on comparisons alone.
Also, who called who? Did you submit your name and number, in request of information? Did you call them? Always be wary of companies who call you when you didn’t request more information. At the same time, if you do request information, write the name of the company down. That way you can check who is calling you.
Always be sure of who you are doing business with. Get names, business references, credentials or any information that can be used to validate the business. Research the companies that contact you, or whom you contact. Make sure their business is known, and they are licensed. Be sure their website receives the online traffic to prove it’s a trusted resource. There are lots of companies out there wanting your business, be sure it goes to one who is business-worthy.
Timeshares are always that good idea that runs its course. Sometimes due to financial restraints or a loved one passing on. We all have our reasons. So be sure to find the right company, that can help you through to the end and make it as seamless as possible, and help you get released from your timeshare now. Don’t become another statistic of fraud by not doing the research and getting ripped off.