How to Sell a Timeshare

Before you sell your timeshare, you must have all the information about your contract on hand. This includes the contract itself, as well as any additional paperwork associated with your timeshare properties. Having this documentation in one place can help make the rest of the selling process much smoother.

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Evaluate Your Timeshare Contract

Who Are the Timeshare Owners?

Check the contract to see if you have the deed to the property or have a “right to use” contract. Sometimes, you may think that you have a deed, but if you look closer, you'll see that the resort or developer actually holds the deed as the timeshare owner in a trust company. No matter what your situation, you'll need to have a physical copy of the deed. 

Rent Your Timeshare

An appealing alternative to selling your timeshare is to consider timeshare rental. Instead of selling your timeshare, you rent your week or points to someone else.

If you decide to go with a resale company, make sure to find a trustworthy one. Since so many people want to sell, it's easy to take advantage of desperate timeshare owners, and many unscrupulous companies are willing to take your money.

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There are many reasons timeshare owners decide that it’s time to sell their timeshares.

GET OUT OF MY TIMESHARE NOWI WANT OUT

Are You Still Paying a Mortgage?

If you're still paying off your mortgage, you'll find it impossible to find a buyer. These timeshares are “encumbered” and represent a bad investment that nobody wants to make.

I WANT OUT

A common scam is that the company will ask that you join a “vacation club” to sell your timeshare. The company may even charge an exorbitant “advertising fee” that you’ll never recoup. Once you’ve paid for the club for several months, you’ll find that the agency has disappeared – and your money along with it.

Talking Directly to the Resort

Another option to consider is to work directly with the resort itself. More and more resorts are putting policies in place to resell old timeshares or to take them back from owners with no cash exchange.

GET OUT OF MY TIMESHARE NOW

Some regret the purchase almost instantly when they discover the annual maintenance fees and other timeshare obligations, especially when the purchase is combined with restrictive policies that make it impossible to visit their desired resorts when they have vacation time. 

Other people are delighted with their timeshare ownerships but find that they can't afford to pay the fees or simply don't have the time to go on vacation due to changing circumstances.

No matter what your reason, selling the timeshare is just one way to end your contract. While the resale process may seem simple at first, it’s essential to know the potential pitfalls that can negatively affect your selling experience and cost you thousands of dollars in the process.

The number of points you have may affect the resale process. Get in touch with the resort or timeshare company to determine if you need to convert these points into weeks before selling and how they affect resale prices.

What Is Your Timeshare Property Value?

No matter what you heard from your timeshare company during the sales pitch, a typical sale price of a timeshare is relatively low. There are many sellers on the resale market and very few buyers.

If 85% of timeshare owners regret their purchase, it's unlikely that you'll ever get your money back. If most owners are selling, you can rest assured that you won't get anywhere near the value of what you initially paid.

In some instances, charities even stopped accepting timeshares as donations since the IRS marked them as having zero value.

You can make your timeshare look more appealing to potential buyers by paying off the annual fees. New owners can get at least the rest of the year “free” without paying the fees themselves, making paid-off timeshares significantly more valuable, even if you have to foot the cost.

Take a look at other people selling a timeshare in a market similar to yours. Compare similar resorts, unit sizes, and amenities. Also, focus more on sold timeshares than ones still available since many owners will put up hopeful sale prices that aren't realistic.

While you may expect that a real estate agent would be a good choice when you want to sell your timeshare, the truth is that most of them aren't familiar with the market.

Do your research on a particular agency or agent. Don't be afraid to ask them about their timeshare sales and how many times they've bought and sold such properties. Also, consider finding a timeshare users group to find any reputable agents in the area.

Have You Paid the Annual Fees?

Understanding the resale market can help you decide if it's worth your money and time to try to sell your timeshare. If you find that selling a timeshare is difficult, consider other alternatives such as timeshare rentals or exiting your contract entirely.

Using a Listing Company to Sell My Timeshare

Some scammers may take it a step further and string desperate timeshare owners along by saying that potential buyers are on the horizon. These buyers will never materialize, and you’ll keep paying increasing costs from the organization and your timeshare that you can't sell.

However, it's important to note that the goal of any resort is to make money, and typically losing a timeshare owner represents a loss. Resorts tend to hear the words “sell my timeshare” and see opportunities to upsell or add more conditions to your existing terms.

It won’t stop you from having to pay the annual maintenance fee, but it can provide a bit of extra money while you evaluate your other options.

As with your option to sell your timeshare, you can either run the rental yourself or work through an agency. It's much easier these days to manage a rental yourself, mostly thanks to the increase in marketplace sites online. You can even use a bulletin board like Craigslist to lease your property, but you'll have to be careful about vetting guests to make sure you get your money.

If you go through an agency, you’ll get all the conveniences of having an expert on board. The agency will manage everything from advertising the rental to vetting potential tenants and handling payments. However, the agency will take a commission fee on every rental, which will dig into your funds.

Get the Details

You should have all of the information about the physical property, including:

●Where the timeshare is located
●The name of the resort and its contact details
●The unit size, including the number of bathrooms and bedrooms, plus additional amenities
●A clear photo of the property

How Do Access Arrangements Work?

There are plenty of timeshare schemes out there that can affect the timeshare resale value. Most timeshares work on weeks, either a fixed week during the year or a floating week during a specific period. Other timeshares use a point system where more popular times cost more points.

When you decide to sell a timeshare, the best approach is to view it as getting rid of a liability rather than selling off an asset. If you get some extra money in the process, that's great, but the ultimate goal is to move away from maintenance and other annual fees.

To get a good idea of what your timeshare is worth, consider the following factors. They'll give you an estimate to work off of when you’re ready to sell.

The Best Way to Sell a Timeshare

How Many Timeshare Sales Are on the Market?

We strongly recommend avoiding the DIY approach to selling your timeshare. With so many legal requirements and complicated procedures regarding the sale of timeshares, you are better off working with real estate agents or dedicated resale companies. This will reduce the chance of a costly mistake and result in significantly less stress for you.

Using a Real Estate Agent to Sell Timeshare

The best way to verify a resale company is to contact the Better Business Bureau or any other consumer protection agency. These organizations will often send out a newsletter about which are reliable companies and which should be avoided. Any reputable company will be a BBB member in good standing.

In general, avoid any agency that wants upfront payment. Most resale companies and real estate agents work on a commission basis, which means they get paid only when the timeshare sells.

If you decide to speak to your resort management, go in with a strong frame of mind – and avoid temptation. Resorts will always use aggressive sales tactics to change your mind about giving up ownership and get you into even more debt.

Find a Reliable Timeshare Exit Company

If you’ve exhausted all your options to sell the timeshare, an appealing alternative is to exit your contract. There are several ways to legally terminate your contract with the resort or developer, which will save you money in the long run.

Unfortunately, the exit process is complicated. Timeshare companies don’t want to lose guaranteed income, so they design their contracts to be as challenging to exit as possible. It's almost impossible to leave a contract without the expertise of an experienced attorney who can use legal leverage.

As with listing agencies, you must do your research about timeshare exit companies. There are plenty of organizations that will promise excellent results or your money back. However, despite these promises, you may struggle to see results and will eventually be back at the start.

Warning Signs

Ideally, you want to work with an experienced law firm instead of a generic company. While non-legal firms may help, some just want to take advantage of the desperate timeshare owner.

Here are some of the significant warning signs that you should look out for:

  • It makes promises that are too good to be true. These promises tend to focus on the timeframe and cost of an exit. Typically, you can expect a smooth exit to take six to 18 months. Any company that promises a shorter time frame is lying to you.
  • It uses high-pressure sales tactics. If the exit agency says that their method is the only way to get out of a contract – or uses any other aggressive sales method – walk away. If they can't treat you with respect when you're not a client, you can expect that they'll treat you worse when you work with them.
  • It requires money upfront and has a money-back guarantee. A common scam is to ask for your credit card number upfront. Once you've paid, there's very little reason for the exit agency to do any work. Money-back guarantees are also very difficult to enforce, and you may have to spend even more money trying to get your money back.

What to Look For in an Exit Company

Make sure that the company you work with is either a law firm or has very close ties with attorneys specializing in timeshare law. Since exiting a contract is a legal proceeding, having the ability to sue, countersue, and utilize the law to its fullest potential is essential.

Look for an exit firm that works with no upfront fees and instead takes a commission after a successful cancellation. This payment method incentivizes the agency to work hard on your behalf and protects you from losing money.

If you work with a law firm, you can also expect credit protection during the proceedings. Timeshare companies always look for ways to get their money back, which includes leveraging annual fees. Failure to pay these fees can result in a lower credit score unless you have a lawyer intervene on your behalf.

An unscrupulous resort may continue to pursue a timeshare owner for unpaid maintenance fees, so it's often a good idea to work with a company that has indemnification, which is protection from harm or loss.

Our Timeshare Cancellation Process

If you've had enough of trying to sell your timeshare and failing to get a fair price, ending your contract is probably your best option. At Timeshare Cancellation Experts, we follow a simple process that allows us to serve our clients, no matter what their needs.

Consultation

Our first step is to schedule a free consultation to determine your situation. We’ll talk about how you've put your timeshare up for sale, as well as other ways you’ve tried to get rid of your contract. Our consultant will confirm that you’ve moved from “sell my timeshare” to “get out.”

We'll also evaluate your contract to decide on the best strategy to move forward.

During this time, we'll also be able to estimate the price and the timeline of the exit. We also ensure that the owner understands that these are estimates only and that exiting a contract can take many months.

Information Gathering

We'll need documentation and evidence to provide you with a solid legal foundation. This documentation includes your member number at the resort, any legal paperwork or other documentation, and the contact details of the sales agents. In some instances, we can get lucky and file a fraud case, though this is, unfortunately, rare.

Starting the Exit Process

Our legal team will file the necessary paperwork to get the process started. They'll negotiate with the resort or timeshare vendor to either achieve an amicable agreement or a discretionary benefits scheme.

It can take several months or even years to exit timeshare ownership, but we'll be with you every step of the journey. Once we have an agreement between the resort and you as the owner, a closing company will handle the final documentation, and you'll be free from your onerous burden.

Timeshare Cancellation Experts

While it may be tempting to consider a sale as your way out of a timeshare agreement, the hard truth is that it rarely works. At most times, the best method to save money on timeshare properties is to exit the contract. If you’re interested in determining the price of ending a contract or just want more information, check out our home page, request our newsletter, or get in touch directly.

We help people who need advice for their timeshares! Keep it or cancel it, let's find out the best decision for your circumstances. 

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This is to state that this is not a financial product. This page doesn’t relate to anyone getting a loan. This is NOT a loan product, a requirement to get financing, or related to getting financing. This page is in no way endorsed by Facebook. There is no guarantee of a refund or financial compensation by acting on the information herein. 

Results are not guaranteed and will be looked at on a case by case basis. Not all clients will qualify for timeshare cancellation and compensation in the form of a refund from their timeshare resort. We work carefully to select timeshare relief firms. Once you are qualified and accept our terms, we will introduce you to them to look after the management and administration of your recommended plan. Our online service is 100% free to use, and you are under no obligation to accept any of the quotes or product offers. Timeshare relief options are subject to conditions and acceptance. Timeshare Niall does not administer timeshare

kate.robinson@timesharecancellationexpert.com

600 Congress Ave, Austin, TX 78701, United States
+1 (737) 377-1811