How to Sell Timeshares in Carolina, Puerto Rico
Every year people get caught up in the bliss of their vacation and whether persuaded by a savvy salesperson or inspired on their own, decide to look at timeshare. Timeshares are very easy to acquire, but not so easy to offload. The concept is so logical: You buy a week of condominium ownership in a resort area, can bank it, trade it and use another elsewhere, all for a fraction of the price of a condominium and yearly dues and membership fees.
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Instructions
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Selling Your Timeshare Unit in Carolina, Puerto Rico
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Carolina is actually a municipality of Puerto Rico and home to the Luis Muñoz Marin International Airport. Many people do not realize that Carolina, which not houses the airport but also the hottest hotels, condominium complexes, nightspots and timeshare resorts, spans a lot further than the Isla Verde area. Carolina is among the most affluent areas of the island.
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Puerto Rico is part of the United States. It is a commonwealth referred to in Spanish as a "Free Associated State." The status of Puerto Rico therefore makes it subject to U.S law, which includes real estate laws.
Keeping this in mind, you need to look over your original contracts and see what it is you bought. The most common timeshare agreements are for a limited number of years. The contract then expires and your duty no longer exists in any way in terms of dues, fees, liabilities or other responsibilities.
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If you are not desperate to sell and have only some years left and belong to one of the major timeshare clubs, which all timeshares do, usually RCI (Resort Club International) or II (Interval International), you may want to consider holding on to the weeks and banking them. Then you can take a long trip somewhere of your choice in the future.
On the other hand, if you want to sell there are several ways to do it. You need to be very careful since there are many unscrupulous companies that will take your money and assure you they will sell your timeshare, only to do precious little but close shop and re-open under a new name. This is a very well-known scam within the timeshare industry.
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To avoid being taken by a scam you should contact your timeshare resort first and foremost. Considering the timeshare you are trying to sell is on Isla Verde, it can be deduced that you probably own at the ESJ (El San Juan) Towers. Your first step should be to contact them and see if they have any on-site sales programs or can advertise on site for your week and to keep your week in mind. It is not uncommon for someone with an adjacent week to inquire about buying the following or previous or even different week at the same resort if they are enjoying it.
If they do not have a resale program then you should ask them if they know of any reputable companies that have successfully sold timeshares at the resort. If they do, ask them how long the company has been reselling and what their success rate is in selling. You may also ask if they have anyone currently working with them that may be willing to talk to you. This is to ensure that you do not get scammed.
You can also check with your membership club, as they may have a resale program available.
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Do it yourself is probably the best way to go. You can advertise on Craigslist or even auction it, particularly if you are just trying to get out from under the fees and profit is not as important to you. By far, the best options are self-sale or an on-site resale program. Sites that resell are often run in boiler rooms on states with loose regulations and after a couple of years they close and re-open with a new name and you may even get hit by the same company more than once. However you choose to sell, always check with the Better Business Bureau and confirm that the company has been around for a good number of years and has no outstanding complaints.
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Tips & Warnings
Go back to your resort--even giving back the timeshare week if you must get rid of it is more attractive to them and safer for you, since timeshare resale is not one of the most reputable businesses.
Advertise yourself
Never give your credit card to anyone promising to sell your timeshare over the phone. They are usually working in a telemarketing boiler room and are fly-by-night companies.
Always check out any company you choose to work with.
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