Timeshare Seller FAQ
Should I sell my timeshare?
Whether or not you sell your timeshare is a personal decision. There may be a number of reasons why you wish to sell your timeshare, and these reasons will determine whether or not selling is a viable answer. For example, if you are simply bored of visiting the same place, remember that you can trade your resort for another through a timeshare exchange scheme.
If, on the other hand you are too ill or financially crippled to manage your timeshare any longer, then you may be better off selling it as soon as possible rather than having to continue paying maintenance costs on something that you may not even be able to use again.
Also, remember that you can leave deeded timeshare to family or donate it to charity, and if you do sell you are unlikely to get back what you paid for it initially. There are reasons for and against selling your timeshare, and only you can decide which works out best for you and your loved ones.
What sort of factors will affect the price at which my timeshare sells?
There are a number of factors that can affect the price at which you should sell your timeshare. It is a good idea to do a little research and check out resale prices on similar timeshares in order to get an idea of what sort of price it might sell at. Some of the factors that can affect the price include: the location of the resort in which you have your timeshare, the season or weeks of your timeshare, the type of ownership such as deeded or vacation club, the size and state of the property, and the quality and popularity if the actual resort.
Do I need to get an appraisal on my timeshare before selling?
Selling a timeshare is not like selling a house, as you are selling time as opposed to a property. You do not need an appraisal on timeshare property before you sell, although some firms may tell you that you do in order to secure fees for a service that is not actually required.
How much can I get for my timeshare?
The amount that you may be able to get for your timeshare can depend on a number of factors. It is a good idea to do a little research and check out resale prices on similar timeshares in order to get an idea of what sort of price it might sell at. Some of the factors that can affect the price include: the location of the resort in which you have your timeshare, the season or weeks of your timeshare, the type of ownership such as deeded or vacation club, the size and state of the property, and the quality and popularity if the actual resort. It will also depend on how quickly you need to sell your property – if you can afford to hold out then you may get a better price; however, you also have to bear in mind that you will be paying maintenance charges and the longer you hold on to the timeshare the lore you will end up paying in maintenance.
Is there a best time to sell my timeshare?
It is best to start the ball rolling as soon as you have decided that you definitely want to sell. There is no point wasting money on a timeshare you no longer want or can no longer afford, and you will still have to pay maintenance charges even if the timeshare loan is paid off. The faster you sell it, the les you will end up paying in maintenance.
How do I look into selling my timeshare?
If you want to look into selling your timeshare, you should contact a re-sales broker. You should also look into comparable timeshares that are already for sale in order to get an idea of what you should be selling for.
Can I sell if I still have a loan out on my timeshare?
This often depends on your outstanding balance and your finance company. It is advisable to contact the finance company for further advice.
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