Most people think that there is a resale market available to dispose of their unwanted timeshare. Let’s face it - the real estate market is as bad as it has been in many years - why would it be any different with timeshare? The timeshare property isn’t even really an investment just a pre-paid holiday, so it is not attractive or beneficial to investors.
How many possibilities do owners realistically have to dispose of their timeshare? What is the effective formula of timeshare owners that successfully disposed of their timeshare?
While a few developers offer buy-back programs, the majority does not, leaving timeshare owners to come up with their own ways to dispose of their timeshare, that they no longer wish to own.
Selling a timeshare is very difficult. The main reason is supply and demand. The supply of timeshare resale greatly exceeds the demand. Due to the clinch with high maintenance fees and tough economical times - plenty of timeshare owners want to dispose of their timeshare creating an excess of supply.
You must price your unit competitively if you really want to dispose of it. There should be no need for an appraisal to sell your timeshare, as we have the internet to gather the necessary information to make a comparison.
Bear in mind that you are competing against all those other sales listings. Think about it from the buyer’s point of view, they are looking for the best deal and if you want to sell your timeshare it has to be a bargain. Price them more realistically and increase your avenues of more low cost exposure. Auctions shouldn’t therefore be considered as a lack of respect to the owners, but rather as possibilities to dispose of their timeshare – particularly when it comes to increasing annual maintenance fees which sometimes reach up to over £2000!
Due to the high pressure sales tactics timeshare owners misleadingly paid over inflated prices, but it isn’t realistic to expect to get anywhere near the buying price. If you don’t price your unit right the chances are really small that you will attract any buyers.
It all goes back to choices and a fair amount of information. There are companies that do provide real opportunities to generate high quality holidays and dispose of unwanted timeshare property. It is indeed a bit of a “mine-field”, so to ‘play safe’ make sure you avoid up-front fees of any kind. Why would you pay for something that didn’t yet happen? In the real estate industry you only pay a provision after a deal has been closed.
As in any industry, including those that involve the sale of real estate and those that involve the sale of timeshare, there are good services and bad ones; there are services that work well for one person and maybe not for another. Choose companies that you think best serve your individual needs. Things sell for what the market will bear.
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Timeshare resale cost much less than buying directly from the resort developer. The buyers of the resale timeshares should be very careful while purchasing and should personally check out the timeshares before investing any money. They should not totally depend on the words of timeshare resellers and should know the details about maintenance fees and property taxes of the timeshares.
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