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Overview
If you have a timeshare and suddenly find yourself unable to make the next trip, you can sell it without losing money on the deal. -
Prepare for the Sale
Step 1
The key to selling your timeshare week is to know exactly how much your property is worth. Unfortunately, many timeshare properties decline in value as the years go on, so it might be unreasonable to expect to get back exactly what you paid for the property. Try to find out the current sale price of similar units in that region to get an idea of a starting price point.
Step 2
Gather all pertinent paperwork, including the deed to the timeshare (if applicable) and any agreements concerning your maintenance responsibilities.
Step 3
Research the local area's policies and laws pertaining to the sale of timeshare properties.
Sell the Timeshare Week Yourself
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Step 1
If you choose to take on the task of selling your timeshare week on your own, try to make the transaction as easy and seamless as possible. The best place to start is by gauging the interest of family or friends. -
Step 2
If you don't find any takers among your close circle, the Internet will allow you to cast a much wider, almost limitless, net. Popular auction sites such as eBay and other online classified websites such as Craigslist and Timesharelifestyle.com are great resources for selling timeshares. Lower prices generate more interest on these popular bidding sites, so keep that in mind when determining your initial auction price. Buyers can pay you directly, either in person, through the mail or via the Internet transcation site PayPal. -
Step 3
Despite the technological savvy of most consumers in today's world, there is still a lot to be said for the old-school approach of selling desirables through paper-based classified ads. While you might not have the worldwide exposure of the Internet, you can post listings in local newspapers within the region of the timeshare. For added coverage, you can list a "For Sale" ad in your local hometown newspaper or pennysaver classified brochure.
Enlist a Real Estate Broker to Help with the Sale
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Step 1
If you simply don't have the time or the know-how to take on the added pressure of selling your timeshare week yourself, hiring a broker can be the next best thing. Although you will have to pay the broker a commission fee, they will do all of the leg work for you. Start looking for a reputable broker by asking for recommendations from trusted local sources. You can also consult with the Better Business Bureau. -
Step 2
Once you narrow the playing field down to a few brokers, find out exactly how much they intend to charge in fees and when they expect payment to be made. For example, do they expect an up-front fee? How much will they charge you in commission once the sale has been made? -
Step 3
Brokers bring with them the know-how to target the right audience and make a quick sale. After all, they want that commission. Ask them about their access to various Internet marketing strategies and about the techniques they have used for previous sales.
- Skill: Moderately Easy
- Tip: Become socially acquainted with other vacationers during your timeshare week. They might be interested in purchasing your week so friends can join them on their annual visit.
- Tip: If you need quick cash, instead of selling your timeshare week you could offer it as a gift to a friend or relative or even pass it on to a charity for a tax-deductible donation.
- Warning:
- Remember that even if nobody uses your timeshare week you will be responsible for the maintenance fees. So, if you find that you can't make the trip several years in a row, selling will ensure that you don't continually lose that money.
