I am sure that when you sell a timeshare, unless it’s your line of business, you don’t do this on a daily basis. When selling, it can raise as many questions as you had when you made your purchase and lots of confusion. One of many questions if you are selling, is whether you sell yourself, or employ timeshare brokers to act for you. Obviously, if you choose the latter you are going to free yourself of the time and worry, but the not so good side is the fact that, you must pay their fees from the sale which could occasionally soon add up to a whopping 40%!
It is advised that you check around for the best deal you may get and with the best broker you can find. However, do not be tempted to use a residential real estate broker, as they are not familiar enough in timeshares sales, nor do they normally have the appropriate contacts. It is also worth checking with the resort which broker deals mostly with their properties, as the resort has a reputation to safeguard. The downside of this is these brokers may charge the biggest fees and have a number of properties on the market in that resort. This makes things more competitive for you, particularly when there are still new properties available. There is no good reason why you can’t haggle for a lower fee though. If you choose an ‘outside’ broker to sell a timeshare for you, be sure to do your homework to check out they are reputable.
If you’re able to spare some time to sell a timeshare on your own, this will give you more cash, but you will need to be hyper vigilant when it comes to dealing with prospective buyers. Marketing your property will be the initial step as well as setting a sensible price. Don’t get greedy or you will not get anyone interested; pitch a little bit above the going rate for comparable properties so you can go down slightly. Get some pictures taken and be mindful when preparing your details and sales pitch. Remember to be as honest as you can (so that you don’t get caught out later!) and try to include your unique selling point for your property.
Now you are armed with something to show people, if at all possible put a website up so that you can direct people to the facts on the Internet. Should you get a lot of the same questions, this can enable you to change your details suitably. Advertise with all the free listing indexes you can get and choose the ones you need to pay for carefully. You of course want targeted sites that deal mostly with timeshares, but others such as EBay can be useful.
Don’t assume all advertising is carried out online, placing your details in shops, on notice boards plus in the newspaper may also help.
When the time comes to sell a timeshare to the buyer, always employ an experienced legal professional who deals with timeshares and in the country your timeshare is located. In this way, they are best placed to recognize potential issues much faster. They may even be in a position to help you handle the safe transfer of money, or perhaps can advise you on it.
After you have made a decision whether you will use timeshare brokers or to sell a timeshare on your own, make your plans, do your research and be careful. Being vigilant is important to guard your money and also have a smooth transaction.
