It seemed like such a good idea at the time. But now, that Adirondack cottage you shared with your college buddies isn't the best place for your growing family. Or maybe that singles resort you joined doesn't really fit with your retirement plans. For whatever reason, you may no longer want or need the timeshare property you purchased. Selling it is possible, and can be profitable.
If you have a timeshare property to sell, you need the proper tools to ensure a quick and easy closing. Like any real estate transaction, this can be a daunting task that needs close attention and may require professional help.
Listing Your Timeshare Property
Have complete knowledge of what you are getting in return before you sell your timeshare property. Make sure to understand the terms of sale and guarantees, and keep asking questions until every matter is perfectly clear. You need professional, qualified advice; so if you're not satisfied with your agent, find another one to do the job.
Before you list your property, compare prices of other similar timeshares. Listing at a competitive price is beneficial for a quick closing. Be sure that you're not pricing it too low, or too high. Find out the usual price set by developers and compare it to your desired selling price. Find a compromise to sell your timeshare property more easily.
Whether or not you can sell your timeshare property can depend largely on market prices. Investors are looking for the best deal, and may choose a property with a lower price tag. Age is also a factor, so you may have trouble selling at the price you want if your property is older or less popular during the selling period.
Take any nearby activities into consideration when listing your timeshare. Local tourist business means more money in the pricing scale, which in turn benefits you. Physical characteristics such as a great view can also fetch a higher price. If your timeshare property is on the seashore or fronting a beautiful mountain range, you will see greater profits.
You should always post your listing so that potential buyers can find the benefits of your timeshare offer. Clearly describe the property in your listing, whether it be in print media, direct mail or online. Post a fair price, as overpriced units move slowly in a market driven by price and location.
Beware of unconditional fees. These are up-front costs charged by agents and derived from a large percentage of their income. Find a professional agent that will sell your timeshare property for a fair fee.
Getting Professional Help
Selling your timeshare property can be much easier with a professional agent or timeshare company. While you're saving the hassle, be sure that you're also saving the cost. There are timeshare selling companies that require no commission, and save you the stress of dealing with a broker by taking care of the negotiating and other processes for you. You can make it easier for your agent to sell the property by giving him or her complete and accurate descriptions, location information and full details regarding your unit.
Find a reputable agent that will advertise your property in newspapers and magazines, and on the Internet. Worldwide exposure is best, as potential buyers will be tourists and visitors looking for a vacation property. The timeshare industry is a worldwide success. Make your property known to qualified buyers in other countries with the farthest-reaching campaign available. Many timeshare companies offer professional Internet marketing consultants to make your website advertising work for you.
The selling process also involves legalities such as title searches and financing details. Professional assistance is available to take care of these fine points.
As in any industry, crooks and scammers are everywhere. Don't be fooled by shady timeshare sellers who offer unrealistic claims, guarantees and timelines. Avoid making any agreements over the phone or online until you have verified the reseller's experience and reputation. Ask for trusted, solid referrals to help you choose the right agent or timeshare resale company for you.
When you are ready to sign your selling agreement, be sure that the professional you have chosen does not require any additional costs or closing fees.
Finally, and of most importance, make sure that the law is on your side. Keep every part of your agreement legitimate, to protect yourself should anything happen to the deal.