How do timeshare resales work?
If you are thinking of selling a timeshare, you need to be cautious with the timeshare resale companies. If one of these companies offers you to resell your timeshare fast be skeptic about it and educate yourself about how do timeshare resales work?
Timeshare resale can be a controversial subject because most of resorts sell the timeshare properties as financial investments. They will tell you about the “hot” timeshare resale market. But you can find timeshares for sale even for pennies. Learn more about this in:
How do timeshare resales work?
Timeshare resale companies contact people specially trough phone. They will claim that the timeshare in your area is “hot” and that they are full of buyer’s requests. Some companies tell you that they have a buyer just waiting for your timeshare property, others will promise to sell your unit in a specific period of time. They promise to sell your timeshare for an equal price than your purchase cost or even for a greater price.
When they finally got your attention, they ask you for an upfront fee in order to list your timeshare unit or for the expenses that the resell may generate. At the end, they guarantee to give you back the money you paid when they sell your timeshare unit.
Timeshare resale scam companies
I am sorry to tell you that the majority of timeshare resales are scams. Most of these companies operate under the same way; this is how timeshare resales work. They are just looking for desperate owners who want to give their timeshare away to scam them again. But you can avoid these companies just detecting the next signs:
- Unsolicited phone calls
- They ask you for upfront fees
- They do not have real estate license
- What they offer sounds unrealistic
- High closing costs.
If you notice these signs it is time to hang up the phone, you are getting scammed. This is the way on how timeshare resales work.
A gold rule in the timeshare industry is to never pay anything upfront, because as soon as you pay these companies, you won’t hear from them nothing never again.
Timeshare Resale Value
Surely at the timeshare presentation the salesman told you that your timeshare is a very good investment because the resale value is incredible. Unfortunately, timeshare owners rarely make a profit when selling a timeshare. You should know that the value of a timeshare is almost zero.
You may wonder why timeshares lose their value; this is because the market is flooded with thousands of timeshare units, so it is very difficult to recoup the initial purchase price, much less to make money of the resale.
I recommend you to think twice before believing in a timeshare resale company; it is just a waste of time and money. The best way to dump and unwanted timeshare is by cancelling it.
Cancel a timeshare has many advantages. For example, you won’t have to pay any fee, you will not have any string attached to the resort, you can travel wherever you want and whenever you want; and these are just a few advantages.
Timeshare cancellation should not cost any upfront either. We at Mexican Timeshare Solutions offer you a free consultation on your timeshare situation to tell you what we can do to cancel your timeshare. Contac us to cancel your timeshare with no fees in advance.
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