How to Sell Timeshare that You No Longer Want – Tips and Advice

Tips and Advice to sell your timeshare

Many people who initially thought that a fixed-week unit might solve the problem of having to choose vacation destinations, of booking flights and accommodation later find that the timeshare they have bought into no longer fits their lifestyle or their financial situation – the family might have grown since the initial purchase, current employment might not make travelling possible in the week specified in the contract or the mortgage might be an obstacle. Whatever your reason, if you have decided to get rid of your contract, here are a few ways to sell timeshare efficiently.

Understand the Details of Your Contract

To be able to sell your timeshare efficiently, you first of all need to understand the contract. Figure out exactly the type of rights that you have bought – if it is a deeded ownership, it might be worth more than a right to use contract with a limited duration. Put together a file that includes all the documents related to the timeshare, such as maintenance documents, tax records and mortgage information to be able to determine the best asking price and to be able to answer the questions asked by potential buyers.

Ask around to Find Someone Who Wants Your Contract

The luckiest scenario is to find the right buyer among your friends or family members. Tell everyone you meet that you have a timeshare to sell – word-of-mouth advertising can be more efficient than you think. It might also be a good idea to try to find out who owns the right to use the property immediately before or after your weeks – they might be interested in taking over your contract to extend their stay on the property.

Create Listings

There are many online and offline agencies that sell or resell timeshares. Some of them specialize in timeshares exclusively, others focus on selling standard, residential properties, but have a special section for timeshares as well. They are different in terms of the related costs as well – some agencies will charge only a commission payable upon selling the property, others might charge a small upfront fee and commission as well.

Auction and Retail Sites

The largest auction and retail platforms also have sections where you can advertise your property, but make sure you read the terms and conditions of usage of he website very carefully and you understanding the selling and bidding process to avoid unpleasant surprises. To make the selling process more efficient, research existing ads to finely tune your pricing and to create an ad that makes your property look attractive.

Talk to Your Seller

Many timeshare sellers have buy-back programs as well, so you might contact them to offer them your rights over the property. However, the main focus of these companies is usually on selling new properties, so they might not offer the best price, but it is definitely worth a try.

Classified Ads

You can try advertising your timeshare property in your local newspaper or you can join a timeshare owners club for help – they offer various member services, including classified ads that are targeted directly towards audiences interested in buying.