How to Sell a Timeshare Condo
Selling a timeshare can be difficult. There are more of them available than there are demands for them. To beat the huge competition from other sellers, you need to know how to go about making your timeshare more marketable to prospective buyers and, once you get their interest, how to make a successful sale.
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Instructions
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Set a reasonable price for your timeshare condo. Make sure that it is comparable to the selling price of other similar timeshare condos in your area that offer the same amenities, benefits, location, time of year and the like. While you want to get a fair price for your timeshare, be aware that if you want to be competitive, you have to sell it at an amount that will be attractive to prospective buyers looking to get the most for their money. Be willing to negotiate a lower price, if necessary.
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Advertise. There are a number of ways you can do this, including real estate ads in newspapers and magazines, both locally and nationwide. The Internet provides many opportunities for you to post a listing of your timeshare condo on classified ad sites, newsgroups, message boards and marketplaces. Make certain that you word your ad in a manner that will draw interest, because you want to stand out from your competitors. Give a specific, positive description of your timeshare's size, space, number of rooms, setting, proximity to outdoor activities, decor, amenities, special advantages and week. Including photos of the property will add to the effectiveness of your ad.
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Consider using the services of a real estate broker who specializes in reselling timeshares. A timeshare broker is more knowledgeable about where and how to promote your timeshare condo effectively and can offer a means of more exposure, by including it in a listing that can reach a wider audience.
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Think about listing your timeshare condo on an online auction site, if you are having trouble finding a buyer for it through other means. Millions of people frequent these types of sites. Do not set a reserve, so that you will encourage more people to bid on your timeshare. Remember that the way you word the listing of your timeshare on an auction site is very important, so tell as much as you can about the qualities, advantages, location, week and more that would make it sound more attractive to prospective bidders.
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Have a contract prepared for when you find a buyer. Lay out in concise detail the specifics of terms, payment and what the buyer's ownership entitles him to. If you are not using a broker and are selling your timeshare condo independently, then have a lawyer look over the contract before you present it.
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Give the buyer all pertinent materials and property associated with their purchase, such as the deed, keys, garage door opener and any appropriate information for the resort in which the condo is located.
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Tips & Warnings
Make sure that your buyer is reputable, before signing any contract.
