Selling Your Timeshare Property

By: Dave Markel

The timeshare property may have seemed like a good idea at the time. Perhaps you really enjoyed your vacation, and thought that you should go back every year? Maybe you were looking at an easy vacation solution that you didn't need to put any thought into. Whatever your reason for originally choosing a timeshare, if it is no longer working out as the vacation solution that you thought it would be for you and your family, it may be time to consider selling.

When it comes to selling your time share vacation property, it can be a bit more complicated than selling your primary piece of real estate. But there are a few things that will make the experience go smoother.

&bull The first thing that you need to do is get all of the documents together. You will need the mortgage papers, the maintenance records, and the original contract that explains the amount of time you are entitled to, the exchange company information, the financing agreement, any information about the resort or area of your time share, the tax records and any other important piece of information. Look over the paperwork carefully. In some time share contracts, there are clauses that require you to sell the time share back to the original seller.

&bull Decide a fair market price for your time share. Is your property in a prime, sought after location? Do you have flexible week options? Are your weeks in off season or prime season? Does your time share property offer the added advantage of the points system where you can trade in weeks for flights and other extras? All of these questions will help you determine the pricing strategy for your time share. It can be difficult to regain the full purchase price for any time share property; however you must weigh the carrying costs with the lower selling price when making the decision to sell.

&bull You may want to consider using a time share appraisal service to figure out a fair market value for your time share. By using this type of service you will be able to take a step back and have your property appraised on its merits as well as the location instead of you how you feel about it.

&bull Decide how to sell your time share property.

&bull A Broker- When it comes to real estate, you can always go with a broker. Using a real estate agent will have some benefits. You will be able to ahead and forget about the sale of your vacation property while someone else completes the transaction for you. However you must be prepared to pay the fees that come with this service. Depending on the agent, the fees can range from 5% to 40%.

&bull A private sale- Selling your time share privately may be beneficial to you if you know someone to sell it to. Otherwise it can become a hassle and a major inconvenience as you try to list your time share in the proper places without much success.

&bull Auction-Using an online auction service such as eBay is a great way to get your time share property the exposure that you need without paying high fees. However, you will have to be careful because you will need to set the minimum price that you are willing to accept and follow through with the sale, no matter what the final price is.

&bull Time share websites - There are time share websites on the internet that actually aid owners in selling their time shares. These sites use a low cost structure that allows owners to reach potential buyers all over the world and get the exposure that they need. Often, these websites will take care of the legal issues and make the selling quite easy for the owner.

&bull Before you agree to any deal for selling your time share property, be sure to read over the contract carefully and know what you are agreeing to. Be sure that the commissions are reasonable and that everything will be handled in your best interest.

&bull When it comes to making the sale, be sure that you are comfortable with the agreement and it is for the price that you were looking for and that you had thought was a fair market price. If you are uncomfortable at all with the contract, be sure to negotiate, or have your agent negotiate on your behalf until you are comfortable signing the contract. Once the transfer of ownership is complete, the timeshare property will no longer be your concern and you can begin enjoying alternative vacation options.

Many people travel to an exotic location and become captivated by the splendor and beauty. They buy into a timeshare so they can return year after year. After returning home and the reality of the cost sets in many of these new time share owners experience buyers remorse. There is an alternative to the on-going fees and payments associated with a time share. A luxury vacation membership is a great way to enjoy yearly vacations without the yearly fees.

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