Timeshare is both misunderstood and controversial. While the basic idea of timeshare is very good, the pushy hard selling of timeshare marketers has not only ruined the reputation of timeshare, but has also caused many unwilling buyers to part with their money for something they don't need. Eventually, these people have to find ways to sell their timeshare ownership.
This is worsened by many timeshare marketers who practice hit and run without any after-sales support. Many people who bought their weeks didn't know how to use their weeks or exchange to other resorts and since they are not utilizing it, their best recourse is to sell or rent their timeshare weeks.
To add fuel to fire, some groups of unscrupulous scammers began looking for ways to further victimise these timeshare victims by making them cough up unrefundable deposits, legal fees, upfront fees and so on with their over-promises and non-delivery.
Should You Sell Your Timeshare?
Before you sell your timeshare, you should seriously consider why you want to sell it. Did you buy because
1. Do you love to travel?
2. You like or don't mind staying for a week in one location?
3. Do you like a leisurely holiday?
4. Do you enjoy being familiar with the place?
5. Do you like the feeling of having the resort staff recognising you and addressing you by name when you arrive?
6. You prefer resorts that are more like serviced apartments than hotels?
7. Would you like to have the flexibility to exchange to over 3000 resorts and condominiums worldwide?
If you answered yes to any or several of the reasons above, then perhaps you should seriously reconsider your decision to sell.
Before You Sell Your Timeshare
There are a few important things to note before you sell your timeshare.
1. Selling timeshare is often a long process, taking half a year to a year or more, so if you need to be patient. If you're thinking of selling your timeshare because you're in desperate then you may need to sell at a huge loss.
2. If you bought your timeshare thinking it can be a good investment, change your thinking immediately. Buying a timeshare is not unlike buying a car - it is good to use but the resale value is seldom, if ever, higher than the originial selling price. If you can sell your timeshare for 20% to 50% of the price you bought, before factoring in legal, administrative and marketing costs, it should be considered a reasonable deal. If you own a premium unit with many years left, you might be able to sell for up to 85% of the original price even.
3. Avoid scammers. One easy way is to reject everyone who calls or emails you to say they can sell your timeshare for you, especially those who say they can sell at your buy price or higher.
4. Compare different brokers, their costs, service attitudes etc. before committing to any one of them.
5. Some brokers will ask you to appraise or value your timeshare ownership before putting it up for sale. By and large, this is unnecessary as you will be able to find the prices of other units in your timeshare resort for comparison without having an appraisal or valuation. Moreover, many buyers will not buy based on the appraisal or valuation anyway so it will be a waste of your money. - 15359
This is worsened by many timeshare marketers who practice hit and run without any after-sales support. Many people who bought their weeks didn't know how to use their weeks or exchange to other resorts and since they are not utilizing it, their best recourse is to sell or rent their timeshare weeks.
To add fuel to fire, some groups of unscrupulous scammers began looking for ways to further victimise these timeshare victims by making them cough up unrefundable deposits, legal fees, upfront fees and so on with their over-promises and non-delivery.
Should You Sell Your Timeshare?
Before you sell your timeshare, you should seriously consider why you want to sell it. Did you buy because
1. Do you love to travel?
2. You like or don't mind staying for a week in one location?
3. Do you like a leisurely holiday?
4. Do you enjoy being familiar with the place?
5. Do you like the feeling of having the resort staff recognising you and addressing you by name when you arrive?
6. You prefer resorts that are more like serviced apartments than hotels?
7. Would you like to have the flexibility to exchange to over 3000 resorts and condominiums worldwide?
If you answered yes to any or several of the reasons above, then perhaps you should seriously reconsider your decision to sell.
Before You Sell Your Timeshare
There are a few important things to note before you sell your timeshare.
1. Selling timeshare is often a long process, taking half a year to a year or more, so if you need to be patient. If you're thinking of selling your timeshare because you're in desperate then you may need to sell at a huge loss.
2. If you bought your timeshare thinking it can be a good investment, change your thinking immediately. Buying a timeshare is not unlike buying a car - it is good to use but the resale value is seldom, if ever, higher than the originial selling price. If you can sell your timeshare for 20% to 50% of the price you bought, before factoring in legal, administrative and marketing costs, it should be considered a reasonable deal. If you own a premium unit with many years left, you might be able to sell for up to 85% of the original price even.
3. Avoid scammers. One easy way is to reject everyone who calls or emails you to say they can sell your timeshare for you, especially those who say they can sell at your buy price or higher.
4. Compare different brokers, their costs, service attitudes etc. before committing to any one of them.
5. Some brokers will ask you to appraise or value your timeshare ownership before putting it up for sale. By and large, this is unnecessary as you will be able to find the prices of other units in your timeshare resort for comparison without having an appraisal or valuation. Moreover, many buyers will not buy based on the appraisal or valuation anyway so it will be a waste of your money. - 15359
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How To Sell Timeshare Guide is a helpful guide to selling your timeshare. To learn how to Sell Timeshare, visit How To Sell Timeshare Guide
