The timeshare Resale business
The timeshare industry it´s been a huge thing in the tourism business since the early 70´s in the United States of America. For sure it has made history since it comes as a different way to possess a property. You basically own a fraction of a property where significant savings are obtained with discounts on conventional rates, wich ensures over time prices that would very possibly increase in the long term.
Likewise, the accommodation capacities are up to 6 or 8 people, something that is not regulary obtained with conventional accommodation in common hotels.
People have a sense of security and planning, considering that owning a timeshare, they have their vacations insured year after year, for an acquird period and also help generate a culture of rest. Due to the diversity of hotels, destinations, activities, and gastronomy, the travel options and experiences multiply.
Sales people even found a way to keep increasing their economy working with secondhand timeshare for sale, claiming it´s the best way to sell timeshare properties that owners don´t want to keep paying.
The average timeshare cost appears actually fair; in exchange of the benefits the owners expect for possessing the property. It doesn´t matter if they got it in a resort or in a resale of timeshare for sale on the internet.
The experience overall seems positive for the families who where just convinced, and sometimes pushed to buy a timeshare in a luxurious resort, until it is time for the monthly fees, taxes and extra costs, even worse when a timeshare owner realizes he has to pay those charges for the next 30 or 40 years, or whatever the time the owner acquired the timeshare for.
Once This happens, some owners decide to give up on their timeshare properties and start looking for the timeshare resale value on the internet. and more than often what they find is timeshare resale companies offering their services on the buy and resale of timeshares.
Some people desperate for getting rid of their timeshare or looking for the best way to sell a timeshare property tend to contact such services. They may think it´s the fastest and best option when truth is different from this.
Best way to sell a timeshare
Before continuing reading you must know something really important about timeshare: it can be much easier to buy on than to sell one and it´s a fact. Unluckily, if you´re wondeing what is the best way to sell a timeshare, most ways to get rid of it will come with downsides.
If you´re in this situation and you are looking for what is the best way to sell a timeshare. It will be hard but there are ways to get rid of it though. Here are some of the options available for a condo timeshare resale.
You can ask the resort where you bought it if you can give it back: your timeshare must be already paid and if you are uo to date with the fees, some developers might accept to remove the shares, but they come with many conditions.
Another option is try to sell you timeshare: despair has created a business. A common scam is telling homeowners that a buyer is ready to buy if the owner will only pay closing costs or other fees. The owner pays, but the sale does not go through and there is no way to get the money back.
You can also try to sell your timeshare with the help of a licensed real estate agent where the resort is located.
Timeshares for sale by owner: alternatively, you can try the timeshare resale by owner on sites like Craigslist, eBay, or by posting an ad in a magazine or newsletter. Many people who know about the resale timeshare for sale published on the web are looking fo cheap timeshare resale by owner. But even if your timeshare is at a sought-afeter, you´ll be lucky to get more than 10 percent of what you paid for.
Many people even post their property as timeshare resales by owner for free and this might be a good way to dump your timeshare but completely losing the investment you dud when you bought it. Some other people just don´t mind and decide to donate it for charity.
Declare yourself in bankruptcy: We don´t really recommend this one. If they don´t make loan payments or stay up-to-date with rates, the resort can foreclose or turn over your account to a collection agency. Either way, your credit score will take a big hit. a Banckruptcy filing can sispend collection activity and ultimately erase debt, but tha it last resort solution.
Resale of imeshare and how they work
Timeshare resale companies exist and those are everywhere when it comes to getting rid of a timeshare. What the self-claimed agencies basically do is help people to buy a secondhand timeshare for a price much lower than the average timeshare cost, or buy timeshares wich may be cheap timeshare for sale by owner, from people who have posted their properties on the web.
Many things are known about these so-called agencies and like we said before, you should not trust this kind of bussiness if it appears too good to be true. The fraudulent companies, placed in Mexico for the most part, normally work offering a "decent deal" to the owners for their used timeshare.
The resale fraud
Be on the lookout for companies that claim to be affiliated with the American Resort Development Association. Several timeshare owners have been contacted by a group of people using the name of the "Resort Consulting Advocates", but be careful with any company that calls to offer condo timeshare resales services as these scammers frequently cange company names to avoid detection.
Timeshare sales people are masters of manipulation and basically do all the job in the deceiving business of timeshare; they claim that they have an interested buyer who sill gice you a large sum of money for your timeshare. Sounds too good to be true, doesn´t it? but be alert, if they refuse to reveal the boyer´s personal información or other details and ask you to pay an upfront fee, this is a red flag.
The fraudulent salespeople might contact your first, proposing the bes timeshare resales or offering their help so you can sell your timeshare fast, and present themselves as a legit company, showing you a web page and documens that seem legitime. they can even create a false sales contract. If you are looking to sell and want to avoid this fraud, be sure to use an agent who charges a comission instead of upfront fees.
They also affirm on the phone, that the area where your property is located, is on dman right now, so they could help connecting you with an interested buyer on timeshare resale by owner. Sometines, the call is directly to infomr you they have some who ir ready to buy your old timeshare for the price you stated.
This fraudulent company´s sites are overly easy to access beacuse they appear in the first search results as lons as people type in "I want to sell my timeshare". Here below, we´ll give you some advice for preventing you from getting caught in the fraudulent people´s business.
Avoid being scammed by timeshare resale companies.
- Try finding one of the legitimate timeshare reselling companies. Beware of these companies, since it´s really hard to find one that does legal procedures.
- Be aware that some of theses companies dedicated o the resale of timeshare require upfront fees that are not refundable. They can range up to hundreds of dollars.
- Do your research on the resort timeshare resales reviews.
- Before making payments or providing credit card information, obtain a written contract that describes in detail the services to be provided. Make sure you understand the terms, incluiding the fees; whether you can still rent or sell the part on your own; how long the contract will be in force; and who is responsible for documenting and closing any sale.
Resort timeshare resale reviews
As we stated before, a good idea to prevent fallin in a resale company scam, is making sure you know theur background, or the seller´s back gground. One way to do this is simply looking up for the reviews in rlation to the company or resort you are dealing with.
A good example of sites you can visit is TripAdvisor, Yelp, Redweek of complaints Board. Look your resort up in any of these blogs and you can see the vast majority of the resort timeshare reviews or post are complaints from a large number of buyers. They claim as well they have been robbed by resale companies who contacted them through a phone call.
One thing to keep in mind is that , once you put your propertyon sale, the timeshare resale value decreases, and many people might resell it for lower prices. Some people even post a free timeshare resale and declare they have timeshare resales by owner for free, all in order to give away their timeshares.
If you happen to encounter a situation like this or you simply want to get rid of ypur timeshare, don´t fall for these fraudulent companies. Most likely you will lose your times and money. Feel free to give us a call here and we´ll support you through the process of giving up on a timeshare.