What are the 5 steps to sell timeshares?
Do you want to sell a timeshare and are looking for a simple guide how to do so? Look no further, with five short steps this page will provide you with a quick reference guide as to how to sell timeshares. While selling may take time, the process is rather easy to do on your own. Start by investigating your options, look at your financing, determine a reasonable price to ask, advertise extensively and finally close! To sell timeshares can be a simple process if you follow these recommendations!
1. Investigate your options. When looking to make money from a timeshare there are three options – rent, sell or donate. Many people who intended to sell timeshares have accomplished their goal of loosening their budget by renting their timeshare. Others have avoided the hassle and uncertainty of selling a timeshare by donating it and receiving tax deductions. Both are options to keep in mind when selling your timeshare. Remember – you can still rent the timeshare when it is on the market, and at any point can choose to donate the timeshare if your heart desires. Still, the most lucrative, if not challenging way to make money on a timeshare is to sell it.
2. Square away your finances. Prior to selling a timeshare ensure you have completed financing it and now own the title. If you have taken out a security-backed loan on the timeshare you will want to have paid off the loan before you sell the timeshare. Few buyers will want to finish paying off a loan and it is best to complete it yourself. If the loan is not security-backed, the loan does not necessarily need to be paid off – just remember you will have to continue making payments on this loan! If you are finished financing the timeshare, you should have the title in hand. If not, go to your local courthouse. The courthouse should have it there and can reproduce it for you for a small fee.
3. Price competitively. Unfortunately, the timeshare market is currently a buyers’ market and it is not an opportune time to sell timeshares. Because there are many others who are trying to sell their timeshares you will have to compete against other great timeshare offers. Do your research by searching online postings for timeshares comparable to your own. Identify the range in which your timeshare is listed. Remember – buyers will find the same postings you have so to sell your timeshare quickly make the price competitive (relatively low)!
4. Advertise extensively. The key to sell timeshares is to find someone to buy a timeshare. To find a buyer post widely online and locally with attractive postings. Make sure to create a posting that highlights all the important benefits of your particular timeshare. Many online sites offer free postings; others charge a small membership fee. Post at all free posting sites, and become a member of the largest & most active organizations. Further, post advertisements & take out classifieds locally where your timeshare is located to attract those already interested in the area.
5. Close! Once you’ve found a buyer and have agreed on the price you may need the help of a timeshare transfer kit or lawyer to seal the deal. Timeshare transfer kits are available online for around $25 and contain legal documents where you will fill out the necessary details specific for your sale. For more piece of mind you can hire a lawyer who specializes specifically in timeshare sales and can complete all aspects of the deal you do not feel comfortable with.