There was a time when timeshares became popular because they offered the opportunity to have ensured vacations each year for the rest of your life. Nowadays, timeshares have a terrible reputation and every day there are more timeshare properties that go back on the market.
Selling a timeshare is easier said than done. It is a difficult process, which becomes even harder during times of economic downturn. Even so, we will give you some advices for you to know how to sell a timeshare safely, but without any guarantee.
How to sell a timeshare
- It is important that you take into account that regarding timeshares, the supply exceeds the demand enormously. Also, timeshares do not appreciate in value, which means that you will never get back what you originally paid for your ownership.
- Know your timeshare like your own hand. You should know everything about it: the annual costs, the amenities, the timeshare regulations of the resort, and more importantly, if your property is deeded. When your timeshare is deeded that means you truly own a share of the unit.
- If you want to sell your timeshare by yourself, look for websites to list your timeshare, such as eBay or RedWeek. Try to advertise it on popular, well-known sites. If you know others who sold their timeshares effectively, contact them and ask them for advice.
- If you want to hire a timeshare resale company, be sure the company is legitimate and reputable. There are many companies that claim to sell a timeshare within a certain period with success. Do your homework and find out everything about the company before working with them.
- Learn about timeshare laws and regulations. Education is the key to avoid being a victim of a timeshare scam.
Keep in mind that the sale process will be extremely slow. We know from clients that have been trying to sell their timeshares for years without any success.
Timeshare Resale Companies
You have to be cautions if you want to contact a timeshare resale company. Timeshare resales have become one of the biggest scams in the timeshare industry. Timeshare resale companies are characterized for being over-promise and under-deliver.
Resale companies advertise your timeshare for a fee, and claim to sell a timeshare within a certain period of time with success. Some other companies offer you an advice on how to sell your timeshare, but without any guarantee that you will sell your unit. We have never heard of someone who has sold his timeshare successfully by paying upfront fees.
Timeshare resales are a legitimate business, but the difference between a straightforward timeshare resale company and a scam is when the company claims to sell your timeshare at an unrealistic price. Remember, if it’s too good to be true is a scam.
- Never - ever pay an upfront fee to sell your timeshare. Whether is called marketing fee, appraisal fee or advertising fee the outcome is always the same – it is never convenient and you might end up losing more money.
- List your timeshare at a realistic price. As we mentioned, timeshares do not appreciate in value, therefore, it is improbable that you get as much as you initially paid.
- Refuse offers you might receive by phone call. These calls tend to be scams.
- Post photos on your listing. That is the best way to grab the attention of a potential buyer.
- Get all your timeshare documents in order. That will make the sale legitimate.
- If you find a buyer, be sure you have all the contact information you need.
The sad truth
To be completely honest, it will be almost impossible for you to find a prospect buyer for your timeshare ownership. Timeshare supply is much greater than the demand. Recent studies reveal that for every person who is interested in buying a timeshare there are other 600 owners selling their units in the US.
If you want to get rid of your timeshare fast and without further problems, timeshare resales are not the best option for you. The best way to get out of a timeshare ownership and prevent yourself from future payments is by cancelling your original contract. Unlike timeshare resales, timeshare cancellation is a safe and efficient process.
We, at Mexican Timeshare Solutions, do not charge any fees until your contract is properly cancelled; otherwise, no fee is charged. Contact MTS today for a free consultation on how you can rid of your timeshare and put back in place the financial freedom you need.
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