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How to Rent or Sell Your Timeshare

Member
By oltibc
User-Submitted Article
(3 Ratings)

The first question is: Are you selling your week or selling your unit all together? Section 1 will deal with selling your week and Section 2 will deal with selling your entire unit.

From Quick Guide: Sell My Timeshare!
Difficulty: Moderately Easy
Instructions

Things You'll Need:

  • Internet access

    Selling your week

  1. Step 1

    First and foremost, don't ever pay an up-front fee to sell your week. It doesn't matter what the fee is called (appraisal, marketing, advertising or marketing analysis fee). There are many people that would like a to be paid for anything they might do for you and yet without any guarantee that they will be successful. So really, what's the point? The only exception is a nominal fee to list your week in a business' "classified" section.

  2. Step 2

    Options for selling your week include listing the week on eBay or Craigslist or sending an email to your colleagues.

  3. Step 3

    Advertise your week at a realistic and fair price. Check out what similar units "sell" for during the time of year you have.

  4. Selling Your Timeshare Unit

  5. Step 1

    First and foremost, don't ever pay an up-front fee to sell your week. It doesn't matter what the fee is called (appraisal, marketing, advertising or marketing analysis fee). There are many people that would like a to be paid for anything they might do for you and yet without any guarantee that they will be successful. So really, what's the point? The only exception is a nominal fee to list your week in a business' "classified" section.

  6. Step 2

    Figure out, by contacting the management company, what other units have sold for to try to come up with an equitable price. The hardest thing to find out is that units sell for considerably less than their original purchase price. So recouping the original payout is very unusual. Another idea is to search for the name of your resort and the word timeshare. This should give you an idea of what other units are listed for.

  7. Step 3

    Advertising is important. Some online sites that offer free advertising are Transaction Realty, MyResortNetwork.com and Redweek.com. Offering online and print advertising is Timesharing Today.

  8. Step 4

    Once you have a true buyer, decide whether you are going to hire a lawyer to write the contract of sale or do it yourself. If you are the later, there are online businesses like, Timesharing Today that have "Resale Document Kits".

  9. Step 5

    If your buyer doesn't want to work with do-it-yourself documents and you have fully negotiated your sales contract, you may wish to consider an intermediary. Some companies that deal with the final paperwork, including disbursing the final deed transfer are Timeshare Transfer and Timeshare Closing Service. If the fees are higher than you would like to invest in the sale of your timeshare, then you can use a online service such as TurboClose, but be aware that you will have to stay on top of all the paperwork and do all the legwork. Without all the connections to all the different entities involved in the sale, transfer of title and deed, escrow and all the other applicable paperwork this may not be the best route. The longer it takes to do the paperwork the more time your buyer has to back out.

Tips & Warnings
  • Realize that as soon as you put out your listing, you are bound to be sent messages from all sorts of companies that, for a fee, will market your unit/week. Best to note them as spam and be done with it.
  • Just as you wouldn't accept the "we need to filter money through your account" scam, don't be susceptible to the "we'll sell your unit for more than you paid, we'll just send you a check from an off-shore account." Same scam.
  • If you are told that any loss you may incur is tax deductible, check with an accountant before believing it.
  • Remember the adage "if it's too good to be true . . ." and repeat it to yourself every time a company contacts you to sell your unit for you or to upgrade you to a similar or different plan.
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