Selling your timeshare for the price you paid for is nearly impossible. That’s probably not what you wanted to hear, yet it’s important to realize so that you know how to spot a scam.
Back when you bought your timeshare, it seemed like the only way you would get a great vacation every year. You may have been told that you can “Visit this beautiful resort whenever you want” or in some cases, “exchange your week with another at a different resort to treat your family to a relaxing getaway.”
However, you probably experienced a completely different story after purchasing. We all know that timeshare companies haven’t always been the greatest. If your timeshare experience isn’t up to your expectations, there is a way to get out of your timeshare.
Selling Timeshare in 2017
Sometimes selling a timeshare can be difficult. There are a lot of websites and brokers out there who claim to be able to resell timeshare without knowing what you bought or even what you paid for it. Scammy resellers, a down economy, and outrageous upfront fees can make you want to pull out your hair and track down the one who sold it to you.
Luckily, times have changed thanks to social media and new online marketplaces for vacationing. These days selling your timeshare doesn’t have to be so hard, and you can use online peer-to-peer networks like weholi to sell and rent timeshares to people who actually want to use it.
So how should you sell your timeshare online?
How To Sell Your Timeshare Online In 3 Simple Steps
Step One: Find Out What Your Unwanted Timeshare Week Is Worth
It’s important to get a realistic idea of what your timeshare is worth on the market. The first thing you need to do is bury the memory of what you paid for your property originally. You are not going to collect the same amount that you paid. Most timeshares sell on the resale market for less than 15% of the original price. There are some ways to increase your selling points, but it can be difficult to find buyers who are looking for a good deal if you are asking too much for your week.
Reminder: weholi Vacation Concierge can help you create a listing. Call 888-988-5714.
The following are some places to look at when researching the value of your timeshare and what the best listing price would be to sell:
- Timeshare owner forums
- Current and completed ebay auctions
- Real estate records of the county your timeshare is in
- Real estate and travel sections of newspapers in the resort area
- Sharket.com (a timeshare sales information website)
Once you have an idea what similar weeks are actually selling for, you will have a realistic idea of how to set your timeshare selling price.
Now that you know what you can charge it’s time to find a place to list.
Step Two: Find A Reputable Timeshare Marketplace
There are a tremendous amount of scams and rip offs in the timeshare resale industry with many companies asking anywhere from hundreds to thousands of dollars in upfront advertising, listing or appraisal fees. It’s important to do your homework on every company you consider.
Avoid paying huge upfront fees by listing your timeshare in reputable places.
One of the best places to rent or sell your timeshare online is the weholi global vacation marketplace because owners set the prices and talk directly to buyers.
With weholi you can:
- List your property for rent or sale. It’s free for the first 90 days!
- Set your price and tailor your listing just the way you want
- Negotiate directly with buyers so you can eliminate the middle man
- Get professional advertising online and across social media
- List your property for rent while you are trying to sell
Whether you choose to list your property with weholi or choose another option, it’s important to remember that you should research the value of your timeshare first so you find the right buyers.
Step 3: Sell Your Property Like A Pro
The chance to sell your timeshare is exactly what you have been waiting for. Here are a few tips to sell your property like a pro:
- Be prepared to pay off your timeshare loan or put money into the transaction. Very few potential buyers will be interested in taking over your loan payments.
- Gather all your paperwork so you have all the basic information you will need for prospective buyers (where you own, resort amenities, maintenance fees and tax information and legal documents you received when you purchased)
- Think like the buyer, price your timeshare at or below the asking prices you see in the listings.
- Check on posting an ad in your home resorts newsletter or bulletin board, many happy owners are looking for extra weeks if the price is right.
- List your property for rent to help you offset the cost of your maintenance fees while you are looking to sell.
- Respond to messages from prospective buyers as soon as possible and provide more information about the property to gain their interest.
- Consider making reasonable counter offers when someone offers you less than your asking price.
By finding an appropriate amount to charge for your timeshare, listing it in the right places and following the above tips to sell (or rent) your property like a pro you have a much higher chance of beating the odds and getting rid of your unwanted timeshare without getting scammed.
Want to get all of the tips from someone who knows? Call our phone support at 888-988-5714 and speak to our Vacation Concierge.