How to Sell Your Timeshare

Buying a timeshare is easy but selling timeshare is another story.

Even though timeshares can be a great opportunity for hassle-free vacations each year, there eventually comes a time when most timeshare owners no longer want their property. Whether it's because their kids are gone or the budget won't allow for the ongoing costs, selling a timeshare can be difficult but not impossible.

Difficulty:

Challenging

Instructions

Things You'll Need

• Internet Access
• Broker or Real Estate Agency (optional)
• Photos of the timeshare
• Patience

1. It's best to be realistic when it comes to pricing your timeshare.

   Unfortunately, many timeshare owners are finding that their timeshares are not good investments because the supply is greater than the demand. Know that going in. If you manage to get even half of what you paid, be thankful. Most owners end up selling for 20-60% less than the original price paid.

2. Be an expert on the property you are selling. You should know the ins and outs of your property, amenities, cost, annual fees for maintenance and other factors. When a potential buyer questions you about it, you should be able to provide them with solid and detailed answers. Also post the best looking photos of the property.

3. Find out if your timeshare is deeded or non-deeded. Deeded timeshares mean you actually own a share of the property, whereas non-deeded means you only pay for the rights to use the property but do not own it. Non-deeded timeshares tend to decrease in value over time so owners may have a more difficult time reselling.

4. Putting your timeshare for sale online can help you reach a network of interested buyers.

   For timeshare owners who want to go about selling their timeshare themselves, you can pursue the "for sale by owner" route. In this sense, you are completely responsible for selling your property. A good place to start is online. There are many timeshare websites that offer listing space for people who want to sell their timeshares. The more places you put your listing, the better the chances of finding a buyer will be.

5. List your timeshare property for auction on sites like eBay. Do research on this option first and see how well others have done before you put yours on the site.

6. Talk to others who have successfully sold their timeshares. Ask for advice, guidance and what you should be on the lookout for.

7. Always check the validity of any broker or real estate agency you want to work with.

   If you want to work with a broker or real estate agency, be sure they are legit. Check to see if they are a member of the American Resort Development Association (ARDA), which is an organization that sets up strict ethical regulations its members must follow when it comes to selling timeshares. Have the broker or real estate agency tell you in writing what their strategy for selling your timeshare is so you're both on the same page at all times.

8. Learn about timeshare laws so you are aware of your rights as a seller so you don't become a victim. While it is illegal for some brokers or real estate agencies to charge upfront fees in some states, others disguise these fees without the seller's knowledge.

Tips & Warnings

• Keep all of your paperwork related to your timeshare. From tax records, to mortgage information and maintenance records, all of this paperwork will be needed for the new buyer so make sure it is all correct and in order.

• Find out if your timeshare resort developer offers a resale program to help you find a buyer.

• If you're not sure how to price your timeshare, you can turn to a timeshare-appraisal service, who will be able to determine the correct market rate for your property.

• Once you've found a buyer, make sure to have their name, address and contact information in your records.

• Be wary of buying a timeshare outside of the US. If you run into problems or end up being the victim of a timeshare scam, US laws will not be able to protect you and getting your money back may prove to be even more difficult.