Timeshares are blessings for many people. However, due to possibly some sales misdirection or people just buying "in the moment", some timeshare owners realize quickly that it is more financial commitment than they expected. If you made the wrong decision to buy a timeshare, you may have no idea how bad this investment really is.
At that point, people realize they just need to get rid of their timeshare. This leads to finding out timeshares on the secondary market sell for around 50% of what they paid for it. The secondary market is much like the used car market rather than the used house market.
The secondary market can sometimes be tough as far as finding a buyer. That is because most buyers do not look for a timeshare, it's the resorts selling new timeshares that go out and find potential buyers. They then have money and resources to put together big promotions and giveaways as well as train their sellers. For an owner selling a timeshare, this can be a lot to compete against.
Here are some ways to remedy that situation for getting rid of your timeshare:
The price is right
For those "in the know", they know that timeshares on the secondary market are much cheaper than new timeshares. The quality itself very rarely goes down. Resorts are maintained very well. It follows that many people who want to buy timeshares go to auctions and resales because it is the proper venue for haggling and getting the best of timeshare packages for low prices. If you wish to sell timeshares easy and fast, you have to price it right. These potential buyers would like to pay the price much cheaper than they would at the resort. Basically, this is the reason why they went to second hand sales to begin with.
Remember, while figuring price, most timeshare resells will go for 30% to 70% less than the original price.
For your part, arming yourself with knowledge will help you discuss in detail your timeshare and be able to justify the price you are asking for. First you want to know what you're selling: the type of property, size of lodging, and all the amenities and features that go with your timeshare.
Include in your list the type of timeshare you have: fixed, floating, or rotating. Know the size of your unit, where it is located within the grounds, if there's a pool view or beach view or any kind of view, and the type of ownership. Know what the financial commitments are. If you have a unit in a desirable location during a desirable time of year with top rate amenities, you can ask for a higher price.
You can also research the going prices for new timeshares that are comparable in location and size to your own. This is a great comparison tool since the quality of the unit usually does not decrease.
Having this information will help you sell your timeshares for the best price possible. You will be able to advertise smartly with detail. If you can also hire a service or advertiser to help you, this will put you in a good position to get as much as you can for your resell.
If you can't sell, rent timeshares
Selling timeshares may be difficult, another remedy to this is to have it rented by a consumer. This way they will also get to see and experience for themselves the timeshare package you are offering for sale. You can accomplish nearly the same thing through renting and who knows, the consumer renting might be convinced to buy it all out.
As the renter is not locked in to a purchase, the payment for that one year will be higher and possibly even the same as your annual cost. If you do have the time and resources to rent it each year, this would be a better financial option than selling.
If you can't sell or rent, consider donations to charities.
If you still want to get rid of your timeshare instead of renting it, then donating it to a charity is a possible option. You may get a write-off. You will also be rid of your financial obligation.
Most people who end up wanting to get rid of their timeshare usually do so only a few years into their timeshare ownership. Whether it's a lifestyle change or a realization of the financial costs, people will find they want to sell their timeshare. If you are one of those owners that needs to get out of your obligation, then I hope these tips are helpful for you to get rid of your timeshare.
At that point, people realize they just need to get rid of their timeshare. This leads to finding out timeshares on the secondary market sell for around 50% of what they paid for it. The secondary market is much like the used car market rather than the used house market.
The secondary market can sometimes be tough as far as finding a buyer. That is because most buyers do not look for a timeshare, it's the resorts selling new timeshares that go out and find potential buyers. They then have money and resources to put together big promotions and giveaways as well as train their sellers. For an owner selling a timeshare, this can be a lot to compete against.
Here are some ways to remedy that situation for getting rid of your timeshare:
The price is right
For those "in the know", they know that timeshares on the secondary market are much cheaper than new timeshares. The quality itself very rarely goes down. Resorts are maintained very well. It follows that many people who want to buy timeshares go to auctions and resales because it is the proper venue for haggling and getting the best of timeshare packages for low prices. If you wish to sell timeshares easy and fast, you have to price it right. These potential buyers would like to pay the price much cheaper than they would at the resort. Basically, this is the reason why they went to second hand sales to begin with.
Remember, while figuring price, most timeshare resells will go for 30% to 70% less than the original price.
For your part, arming yourself with knowledge will help you discuss in detail your timeshare and be able to justify the price you are asking for. First you want to know what you're selling: the type of property, size of lodging, and all the amenities and features that go with your timeshare.
Include in your list the type of timeshare you have: fixed, floating, or rotating. Know the size of your unit, where it is located within the grounds, if there's a pool view or beach view or any kind of view, and the type of ownership. Know what the financial commitments are. If you have a unit in a desirable location during a desirable time of year with top rate amenities, you can ask for a higher price.
You can also research the going prices for new timeshares that are comparable in location and size to your own. This is a great comparison tool since the quality of the unit usually does not decrease.
Having this information will help you sell your timeshares for the best price possible. You will be able to advertise smartly with detail. If you can also hire a service or advertiser to help you, this will put you in a good position to get as much as you can for your resell.
If you can't sell, rent timeshares
Selling timeshares may be difficult, another remedy to this is to have it rented by a consumer. This way they will also get to see and experience for themselves the timeshare package you are offering for sale. You can accomplish nearly the same thing through renting and who knows, the consumer renting might be convinced to buy it all out.
As the renter is not locked in to a purchase, the payment for that one year will be higher and possibly even the same as your annual cost. If you do have the time and resources to rent it each year, this would be a better financial option than selling.
If you can't sell or rent, consider donations to charities.
If you still want to get rid of your timeshare instead of renting it, then donating it to a charity is a possible option. You may get a write-off. You will also be rid of your financial obligation.
Most people who end up wanting to get rid of their timeshare usually do so only a few years into their timeshare ownership. Whether it's a lifestyle change or a realization of the financial costs, people will find they want to sell their timeshare. If you are one of those owners that needs to get out of your obligation, then I hope these tips are helpful for you to get rid of your timeshare.
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