One option for getting out of your timeshare contract is to sell your timeshare to a new owner. The beauty is that through selling your timeshare, you are getting out of your contract and giving it to someone else. The best part is that you stand to make money doing it. One question that gets asked all to often is, “Are timeshare resale companies worth the money?”

The process of selling your timeshare through a third party can be a little hit-or-miss, but there are usually reasons for this – reasons that are by no means immune to careful planning. When you begin looking for a timeshare resale company, here are some things to keep in mind:

• You will take a hit; don’t expect your original investment.
• Do your research.
• Avoid Upfront Fees and overly optimistic promises.

There is good money to be made in timeshares, but not necessarily if you’re a current owner looking to sell yours. By and large this is an industry that favors the resorts and resale companies, in that they can buy your timeshare for less than it was originally worth then turn around and sell it to a new buyer for a mark up. This isn’t dishonest in any way, so don’t be concerned/discouraged. This is simply how the business works.

Wouldn't it be nice to see that sign on YOUR property?

When considering a fair asking price for your property, the general wisdom is to expect a 50% loss off of your original investment. If you’re going to take out a listing at a resale company for a timeshare that originally cost you $3,600 expect to start pricing at $1,800. To ensure that you actually sell your property I would advise you to price lower – to price competitively. Many timeshare owners are selling their weeks, so there is a lot of competition out there. Give yourself the best advantage you can.

Of course another important factor to take into consideration when looking for a timeshare resale company is that you do not want to jump at the first company you find. As with anything else, you need to shop around before investing your money.

As there is so much money to be made in the timeshare resale business there are an almost endless number of sites that want your money. Not all of them will get it through honest means. At the very least you’re liable to wind up paying too much for too little if you walk into this blind. Keep your eyes open, and your wits sharp.

One fantastic resource for finding a reputable resale company is to search for one through the ARDA-ROC’s Timeshare Seller’s Resource Center. The site provides prospective sellers with a comprehensive list of companies, forums for previous sellers to advise new sellers, and a detailed list of things to watch for in a reputable company.

If nothing else, my best advice is to ignore any company who asks for an upfront fee and promises to have a buyer already lined up. Selling timeshares is not an exact science, and some very desirable properties might not sell for any number of reasons. If any one tells you they have a buyer, they are most likely lying. If they ask for an upfront fee they are essentially asking you to give them free money – they likely won’t do what it takes to sell your timeshare.

Selling your timeshare contract is a big deal, so don’t fool around. Timeshare resale companies are reliable, by and large. Follow our advice, keep your eye on the prize, and get rid of your timeshare contract for good.