Selling timeshares is something that most timeshare owners consider difficult and lengthy, that’s why many of them decide to keep their contracts and to pay the related fees even when they no longer use the property that makes the object of the contract. If you are faced with a similar situation, you must know that there is a way out – here are some of the best ways to sell your timeshare.
Read Your Contract and Review the Related Documents
Any selling process starts with the identification of the good to be sold. Read your contract very carefully and make sure you understand every detail of it – pay attention to the type of property right that you have bought (right to use and deeded are the two main types) and to the costs that the ownership of those rights involve. Find all the documents related to the contract, such as tax documents and the receipts that prove you have paid the required maintenance fees as well.
Tell People You Know about Your Intention to Sell
Use word-of-mouth advertising first. Tell everyone you know, especially people who know people, such as your lawyer or your tax expert, about your intention to sell your timeshare – you might find someone interested in buying into the property. You can also try to contact the owners that you share the property with – the people who use the vacation home right before or after your fixed period might want to spend more time there and might be interested in buying your rights.
List Your Property
There are many different types of websites that you can use to list your timeshare property:
- Real estate websites that sell standard properties – their focus might be with family homes or residential apartments, but most of them accept timeshare listings as well;
- Specialized websites – there are companies that sell exclusively timeshares, so using their websites to list your property might be a great idea because these companies can reach out to your target segment more directly;
- Auction and retail websites – they also have special sections for buying and selling timeshares, but make sure you understand the selling and the bidding process before you publish your ad;
- Classified ads – you can use your local newspaper, possibly one that has an online version as well to make sure your ad reaches to as many people as possible or you can join a timeshare owners club and benefit of the advertising possibilities offered by your club as a service for the members.
Contact Your Initial Seller
Very few people know that many timeshare developers have re-purchase programs as well. Timeshare contracts include a clause that stipulates a grace period during which the seller must take the property back if the buyer changes his mind, but many companies are willing to help their buyers even after the grace period has expired. If the cancellation option does not apply in your case, it still doesn’t hurt to ask your seller whether they are interested in buying back your timeshare.