Selling a vacation timeshare can be difficult. There are many people that claim they will help you. Unfortunately, these people will often take advantage of your lack of knowledge and lack of comfort about the market. The Internet is filled with horror stories of scammers and frauds who have bilked timeshare owners of their properties and financial resources. Fortunately, there are things you can do to ensure you have the best chance of selling your vacation timeshare without losing your shirt or your pride. This article will discuss a few tips you can use immediately.
Tip #1: Know Your Position
Just selling a timeshare is tough. But selling one for profit is down right impossible. To understand this you need to know that supply of timeshares far out weighs the demand. Obviously this is bad new for anybody wanting to sell but it is important to understand before you consider selling.
Tip #2: Understand Your Limitations
Most people buy timeshares from a developer. The developer has spent a lot of money to promote each one. They can afford to do this because their expenses are spread over many units in the same resort.
Lets face it. You are not going to be able to wine and dine potential buyers by treating them to a free lavish weekend at your timeshare. Not to mention, that most people that buy timeshares do not even know that they can purchases them from private parties. These two facts mean that you have a rather limited pool of potential buyers to sell to.
Tip #3: Know the Market and Set Your Price To Sell
You already understand that you will probably need to significantly discount your timeshare in order to sell it. With that in mind, search timeshare resell sites to see what comparable properties have sold for. Resist the urge to look at the list price as this will not help you gage the market correctly.
Tip #4: Use Cost-Effective Advertising
Magazine and newspaper ads are very expensive. Alternatively you should advertise your vacation timeshare on the Internet. You can post your ad for free on many online classified sites. Look for newsgroups, and discussion boards that are devoted to timeshares, travel, or rental properties. Place adds on eBay and CraigsList. Look for sites dedicated to the timeshare marketplace and see if they charge a reasonable fee for classified ads. Places like Tug2.net offer a 3-month ad for only $10.
Bonus Tip #5: Using A Broker
If you are desperate to sell your vacation timeshare, consider using a resale broker. They can help you get exposure and ultimately help you sell your timeshare. However, understand that using a broker's services can be expensive. They will usually charge an a fee or commission upfront on the sale. Ask the broker if they will work on a commission without the fee as that at least guarantees you only pay them when they sell your timeshare.
Remember, there are a lot of pitfalls when it is time to sell your timeshare. Scammers are just waiting to take advantage of your ignorance. However when you are armed with the right information you will be protected. Keep the tips you learned here in mind and research as much as you can. With good information and the right perspective, you will sell your vacation timeshare.
Tip #1: Know Your Position
Just selling a timeshare is tough. But selling one for profit is down right impossible. To understand this you need to know that supply of timeshares far out weighs the demand. Obviously this is bad new for anybody wanting to sell but it is important to understand before you consider selling.
Tip #2: Understand Your Limitations
Most people buy timeshares from a developer. The developer has spent a lot of money to promote each one. They can afford to do this because their expenses are spread over many units in the same resort.
Lets face it. You are not going to be able to wine and dine potential buyers by treating them to a free lavish weekend at your timeshare. Not to mention, that most people that buy timeshares do not even know that they can purchases them from private parties. These two facts mean that you have a rather limited pool of potential buyers to sell to.
Tip #3: Know the Market and Set Your Price To Sell
You already understand that you will probably need to significantly discount your timeshare in order to sell it. With that in mind, search timeshare resell sites to see what comparable properties have sold for. Resist the urge to look at the list price as this will not help you gage the market correctly.
Tip #4: Use Cost-Effective Advertising
Magazine and newspaper ads are very expensive. Alternatively you should advertise your vacation timeshare on the Internet. You can post your ad for free on many online classified sites. Look for newsgroups, and discussion boards that are devoted to timeshares, travel, or rental properties. Place adds on eBay and CraigsList. Look for sites dedicated to the timeshare marketplace and see if they charge a reasonable fee for classified ads. Places like Tug2.net offer a 3-month ad for only $10.
Bonus Tip #5: Using A Broker
If you are desperate to sell your vacation timeshare, consider using a resale broker. They can help you get exposure and ultimately help you sell your timeshare. However, understand that using a broker's services can be expensive. They will usually charge an a fee or commission upfront on the sale. Ask the broker if they will work on a commission without the fee as that at least guarantees you only pay them when they sell your timeshare.
Remember, there are a lot of pitfalls when it is time to sell your timeshare. Scammers are just waiting to take advantage of your ignorance. However when you are armed with the right information you will be protected. Keep the tips you learned here in mind and research as much as you can. With good information and the right perspective, you will sell your vacation timeshare.
About the Author:
Learn about selling a vacation timeshare by visiting resales-time-share.com. A site dedicated to helping you get the most out of your time share. This and other unique content 'timeshare' articles are available with free reprint rights.
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