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Are You Sure Selling Is Your Best
Solution? Before putting your timeshare on the market, ask your resort about any restrictions, limits or fees that could affect your sale. Next, research the market to determine a fair asking price. And finally, put together a “Fact Sheet” offering knowledgeable answers to your prospective buyer’s questions. While none of this guarantees your timeshare will sell, all the helpful hints given here will make the process go smoother. |
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If you can answer ‘yes’ to all of these questions, you’re ready to put your timeshare on the market.
While none of this guarantees your timeshare will sell, our helpful hints will make the process easier.
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because you own a timeshare, doesn't mean that you have to keep
going to the same place over and over again. In fact, one of the
greatest benefits of owning a timeshare is that you can trade
your vacation time for stays at other resorts throughout the
world! 80% of timeshare purchasers buy with this intention!
Whether you're a long-term planner or a last moment
procrastinator, trading your timeshare for other comparable
timeshares is a wonderful way to travel and see the world! |
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| Points can be used at more than 3700 resorts worldwide. You can use Points to pay for timeshare accommodations, airline tickets, and rental cars. With Points you can reserve partial weeks -- one night, two nights or as many as you like. | ||||
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On average you'll most likely spend $150.00 - $300.00 per night, per room at a resort over a week that ends up being over $1,000.00. Now lets say you have 4 people traveling then you most likely will want to rent 2 rooms to accommodate your needs that ends up being over $2,000.00 per week. This starts to make your timeshare look like a tremendous saving over just a few years time. More Bang For Your Buck: A timeshare gives your more room for your money, and are located in resorts that are famous for better quality vacationing. As you can see the cost of owning your own timeshare is far less than that of renting. Luxury On A Budget: Timeshare resorts provide you more luxurious accommodations than most hotels. If you own a timeshare you have the initial investment then your yearly fees, calculate that over the number of years you will go on vacation and you will come out ahead by owning a timeshare. |
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Solutions |
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| Have realistic expectations. Your decision to purchase a timeshare was a commitment to quality vacation time, and not a financial investment. Depending on the resort you own, there may be a number of other families selling their week -- and the resale value of yours is apt to be a good dealer lower than what you paid. If you are still paying for the property on a contract, consider whether or not you would be willing to simply give up the timeshare in exchange for the buyer taking over your monthly payments. | ||||
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Do You Have
a Fixed Week or Floating Week? Annual or Biennial Ownership? A fixed floating time option guarantees you the unit for a specific week of the year. A floating time option gives you the right to use the unit within a certain season of the year. With floating time, you need to reserve the time you want in advance and availability is on a fire-come, first-served basis. Fixed or floating, either can be on an annual basis (every year) or a biennial basis (every other year). A Lockoff (or Lockout) Unit Offers More Flexibility. While the higher number of bedrooms and bathrooms justifies a higher price, even better is to have a bedroom/ bathroom as a “lockoff” unit with a separate entrance from the main unit. This space can be easily rented or exchanged. If your timeshare has that, be sure to promote that advantage! Point-Based Vacation Plans. Ah, the darlings of the timeshare world, the points-based vacation plan is gaining in popularity. However, know that selling this type of timeshare product requires you to educate the potential buyer a bit on how the points work. Giving a sample itinerary showing the potential buyer where they can go with the points is a great selling tool. Three important benefits are: choices (of resorts), flexibility of scheduling (1 to 30-night stays) and selection of accommodations (hotel room, studio, 1-, 2- or 3-bedroom). Remember also to mention if your particular points can be rolled over from one year to the next, or borrowed in advance of the next year’s balance. List Your Exchange Fees and Maintenance Fees. Does your timeshare come with exchange privileges? If so, provide the name of the exchange company and disclose the fees. It is also important to tell your prospective buyer the cost of your maintenance fees, the history of any increases, and whether or not you are responsible for paying taxes. How to Handle Resale Brokers Compare listing cost, and look for reputable brokers who work hard to help you. It is similar to selling a home through a real estate agent verses trying to sell your home yourself. Realize that the money you recoup from a broker will be less (in most cases) than if you sold the timeshare yourself. Ask about fees, guarantees, and refunds—and get it all in writing. The Phony Appraisal Fee. Be wary of paying any upfront fees—especially those requested to do an appraisal. With so many units on the market, there is no need for an appraisal (unless you are donating the timeshare to charity and need the appraisal for tax purposes). Got a License? Another good question to ask is if the reseller’s agents are licensed to sell real estate where your timeshare is located. Verify their answer with the Real Estate Commission and ask for references from clients. Also, find out how the reseller will advertise and promote your timeshare unit. Will you be apprised of all offers? Don’t agree to anything over the phone or online until you’ve had the opportunity to check out the reseller through the Better Business Bureau, State Attorney General, and local consumer protection agencies in the state where the reseller is located. If you do decide to list with a broker, be sure you understand the fees, commissions, and other costs you must pay, and when each is due. Know the length of the contract. Also, find out if you can rent the timeshare or sell it on your own at the same time the reseller is trying to move your property. Finally, be sure it is written in the contract who is responsible for documenting and closing the sale. The Bottom Line: Price While the value of any timeshare is based upon location, resort reputation, size of unit, resort amenities, and season, the driving factor is always the PRICE. A good rule of thumb is this: if you are able to get 50% of what you paid at the resort sales presentation, take it! Other Handy Links: |
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