How to Sell a Timeshare Property
When selling a timeshare property, understand that sellers rarely recover more than 35 percent to 55 percent of the original price, and be sure to price the timeshare competitively. Find out what similar timeshares are selling for with advice from a mortgage specialist in this free video on timeshares.
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Hi, my name is Stetson Lowe, and in this clip, we're going to be talking about how to sell a timeshare. When you first bought your timeshare, a fixed week unit was very convenient and offered, you know, the amenities of a home away from home. But as time went on and your family's needs changed or kids grew up and the activities at your timeshare are not suitable to fit the whole family, you may be thinking about selling your timeshare. Things to consider are very rarely do you recover more than 35 to 55 percent of your original timeshare price. It's just an unfortunate fact that values on resorts or certain weeks just don't bring in the dollars that you paid for them at the...at the sales presentation that you went to. It's a good idea, though, to look at what other timeshares are selling for and make sure yours is priced competitively. Obviously, people are looking at all the shares sold in a particular resort or timeshare building at one time and just probably going to buy the week that's best for them as well as which one's priced the best. So realize if yours is also...if your timeshare is also in an off-season time of year, take that into consideration when marketing it versus ones that are in on-season or peak season, and price it accordingly. If your property's not been maintained well, if your taxes are just too high, hazard insurance or mortgage payment for the timeshare is putting you under, it's a good idea to put it up for sale and competitively price it is the best thing you can do.