There are many reasons why a timeshare owner would want to sell their timeshare or give it back to the resort or club. Many timeshares today are sold on a short-term basis of anywhere from three to ten years, and as such, are usually put to good use before they expire. However, early timeshares dating back 30 years or more were typically sold long-term as a perpetuity contract spanning from 30 to 80-year periods. As the timeshare owners grow older, many are unable to use their timeshares for a variety of reasons, from the cost of travel, loss of partner, immobility, and illness, or a change in situation that makes travel impossible, which increases the numbers of timeshare owners looking for an escape from their timeshare ownership. What’s the first step in selling your timeshare? Contact a company that specializes in selling timeshares. The top three companies for selling your timeshare are Sell My Timeshare NOW, Timeshare Broker Associates, LLC, and Timeshare Specialists.
When selling your timeshare, it pays to be realistic about your expectations. Timeshares are a lifestyle purchase, not a property investment. You purchased the right to use a holiday condo, apartment or home over a number of years, so essentially you have paid for 20+ years of holidays upfront. Timeshares do not increase in value like a residential or vacation property does. Because your timeshare will likely be one of many on sale, you shouldn’t expect to get back what you paid for it. Because many properties have hefty maintenance fees regardless if the property is used or not, some owners happily relinquish a timeshare they no longer can use, giving it back to the resort or club managers with no money being exchanged. Before getting into the process of selling your timeshare, make sure you have paid your maintenance fees, otherwise, your timeshare could be repossessed or foreclosed on.
When it comes time to sell your timeshare, the most important thing to know is that a reputable, professional resale agent will not ask you for money upfront for anything – not buying into a club, advertising costs, or legal expenses. If your resale agent asks you for money upfront, drop them like a hot potato and look for one that can be trusted. For example, Timeshare Broker Associates, LLC is a brokerage that exclusively handles timeshare buyers and sellers, that never charges sellers upfront fees. Before you begin the process of selling your timeshare, you should check in with your club, manager, or resort’s member or customer service team to find out if they offer their own buyback program.
Be prepared to be super patient while your timeshare is being sold. It may take some time to find the perfect buyer, but they’re out there. For example, Sell My Timeshare NOW connects timeshare owners with buyers from 218 different countries around the world every day. If you read the reviews from Timeshare Specialist’s site, you’ll see that it can take months for the transfer process to complete. Find out if your timeshare can be put into a rental program, rent it out on your own, or rent it out to friends and family in order to reduce the financial pressure possible during a prolonged sale period.