How to Sell Timeshares Quickly

By Amber Keefer

  • Overview

    A timeshare is a resort property having several owners who each vacation there at different times throughout the year. For this reason, there are a number of factors to consider when deciding to sell your investment in a timeshare property. The price you get and how quickly you sell will likely depend on supply and demand of similar units in that same location at the time you put your timeshare on the market. The resale value of a timeshare varies depending on the size of the unit, time of year you get your one week, and resort location.

    • Step 1

      Find out the value of your investment. Unlike traditional real estate, by and large, timeshares neither appreciate nor depreciate in value. However, the resort area in which a vacation home is located may increase in value, possibly affecting the price of a unit. Make inquiries to compare the list prices of other timeshares similar in size, location, and amenities offered. Actually, it can't hurt to research the general real estate market in the area.

    • Step 2

      Sell during the tourist season when vacation homes are in high demand. That way, you may have a better chance of getting the money back out of your investment. Keep in mind, though, that if you want to sell your timeshare quickly, you may have to sell if for at least 50 percent less than what you paid for it. In some cases, you may have to accept an even lower offer. The time of year your unit is available to vacationers is another factor that can negatively affect the price.

    • Step 3

      Price the timeshare reasonably. Although you will want to get the most money back that you can, you may not necessarily make a big profit on the sale. Keep in mind that since the timeshare market is competitive, there may be numerous other properties in the area for sale at the same time. Tentatively test the market by placing a classified ad and see what kind of response you get.

    • Step 4

      Contact a real estate agent who specializes in selling timeshares. There will be fees for listing the unit with a broker, but you may be able to get more money out of the property. List with a real estate agency that conducts business in the same community where your timeshare unit is located. Ask if a broker is willing to reduce fees to get the listing contract.

    • Step 5

      Market effectively, especially if you don't list your timeshare with a real estate agency. Be sure to draw attention to the unit's special features, as these can be potential selling points. Many timeshares now offer the flexibility of choosing a resort location. A buyer does not necessarily have to vacation at the same place at the same time every year. This could be a selling point in your favor. Advertise in different medias including newspapers, online classified ads, and by word-of-mouth. Someone you know might be interested in buying a timeshare; therefore, you may find yourself in a position to negotiate a deal that saves you both some money.

    • Step 6

      Auction off your timeshare unit. If you list the property with an online auction, you will pay fewer selling fees than if you list it with a realtor. One possible disadvantage is that an online auction may not get as high a price for the timeshare as a real estate broker might be able to get.
    • Skill: Moderate
    • Ingredients:
    • Internet Access
    • Tip: Make sure that a potential buyer interested in purchasing your timeshare understands that in addition to paying a purchase price, there will be maintenance fees to cover the costs of grounds keeping, general maintenance, housekeeping services, and upgrades. These fees may be payable monthly, quarterly or annually. Depending on the other variables, maintenance fees can cost as much as $600 each year.
    • Warning:
    • Selling a timeshare is not always easy, and you can't always make a profit. Before setting a price for your own property, find out for how much other units in the same development have actually sold. This will give you a better idea than the list prices.
    • You must pay off any remaining balance that you might still owe on a timeshare before you can deed it over to a new buyer.

    Trending Now

    © Demand Media 2011