Odds are you’re here because you are looking to resell/ sell your timeshare, but you haven’t the slightest idea how to go about it. No problem. There are actually a few ways to do this, and they’re relatively easy.
The two methods to selling your timeshare are as such:
- Sell a timeshare on your own
- Sell using a Resale Company
Both methods are proven methods, and they each have their pros and cons. The option you choose will rely on a number of factors including your urgency to sell, as well as your personal bottom line. Before making the decision to sell a timeshare, however, there are some things you need to come to terms with:
- You will not make all of your money back. Timeshares do not increase in value, and most people buying on the second hand market are not willing to pay what you may have paid.
- Patience is a virtue. Timeshare sales cannot be done over night. In almost every case you will likely be waiting anywhere between 2 – 8 weeks before you get a potential buyer to contact you. Don’t let this wait discourage you. There are buyers out there, but they have a lot to mull over before making the commitment.
Sell a Timeshare on Your Own
This method understandably involves your participation more than any other. You have to understand competitive pricing, and also brush up on how the timeshare market works. Those are surprisingly simple tasks, so let’s get to the means of selling at your disposal.
- You can sell a timeshare via a local paper: Take out a classified ad in a local paper, preferably in the local publication of the city in which your timeshare is located. This will catch the eyes of tourists who might be more likely to purchase a timeshare over some one in, say, your small home town.
- You can sell your timeshare on ebay: This method is a lot more reliable than the local paper ad idea. For starters you will garner much more traffic, as ebay gets millions of users to visit their site per day. Not only that, but you will see what similar properties are going for, which will help you price competitively to make it more of a bargain for potential buyers. You can also see which markets are selling, and at what capacity/consistency.
Using a Resale Company
This is the method we strongly recommend to our visitors, as your role will be much less proactive. In many cases it is even less expensive to have a resale company sell your property, as they competitively price their services. So before you pick a company shop around for the best one out there.
Resale companies work like this: You bring your property listing to the company, they list it. If they find a buyer, they will refer back to you for a judgement call. If you like the offer you tell them to accept and they carry on with the rest of the deal (this includes paper work and money transfers). If you don’t like the deal you can tell them to deny the offer, and the company will keep looking until they find an offer that meets your standards.
It should also be known that most companies have a listing period, the length of which varies from company to company. Some will list your property for a few weeks, others might list for a whole year. This goes back to shopping around, as picking the longest duration could be a benefit given how long the process can take. Most sites seem to promise a turnaround of 6-8 weeks, but your mileage may vary.