How to Get Rid of a Timeshare

Get Rid of Timeshare!

You bought a timeshare when you were on vacation a few years ago and not you've realized that you don't have the time or the inclination to use it and the costs are becoming a hassle, so you've decided it's high time that you get rid of the timeshare. The question is how are you going to get rid of it? There are ways to get rid of a timeshare, but you've got some decisions to make. Read on to learn your options so you can decide what will work best for you.

Things You'll Need

• Computer & Internet

Instructions

1. ~ Consider Donating Your TimeShare ~

   Timeshares are difficult to sell on the secondary market, especially in a soft market. Anyone who tells you that you are going to make a lot of money or even break even is probably lying to you. The sad reality is that you will probably take a loss, unless you have unusual circumstances (ie. a timeshare in a very hot location where none others are available).

   Donating a timeshare and then taking the tax incentive may be a viable option. It also gets you out of paying all the maintenance fees immediately. There are plenty of non-profit companies that will accept timeshare donations - choose a charity that you like and get rid of the timeshare.

2. ~ Sell The TimeShare on Your Own ~

   A second option is to sell the timeshare on your own. In this scenario, the most important thing is price and advertising. You've got to price it right - ideally lower than other comparable timeshares on the market and you've got to get the word out that you are selling.

   Take ads out in major newspapers, place ads on Craigs List, and other websites that cater to timeshare buyers and sellers.

3. ~ Hire Someone to Get Rid of a Timeshare for You ~

   There are brokerages that specialize in selling timeshares. Be careful as you choose a brokerage to handle the sale for you and don't pay them upfront. Instead, agree on a percentage of the total sale amount and allow them to handle all of the details. The advantage to this option is that you likely live far from your timeshare so you can't show it - but a local real estate agent can target people who are in the area and looking to spend money.

4. ~ Consider Keeping the Timeshare & Renting Your Use ~

   This may be a good option at least until there is a stronger market for these kinds of sales. Again, you can advertise on Craigs List or specialized websites. You can even auction your time on eBay.

   This may be a short term option until you can get rid of the timeshare for good.

Tips & Warnings

• Price the timeshare correctly if you are serious about getting rid of it!