Share |

How Can I Sell My Timeshare Quickly?

My wife and I bought a timeshare last year, but now we would like to sell it. How can I go about doing this quickly and not lose money?

  1. Bobby
    December 17th, 2010 at 05:38 | #1

    More than likely you’ll be in the same situation as tens of thousands of timeshare owners (perhaps more) who are trying to get rid of their timeshares but not having much success. The problem is that there are too many people trying to sell and simply VERY few who even consider buying on the resale market.

    The possibility of a fast resale is nearly nonexistent. Get that out of your mind right now.

    If you want to go through the resell route, I’d suggest trying locations where other timeshare owners visit, like redweek.com, sellmytimesharenow.com, tstoday.com. Previous timeshare owners are probably one of the few communities who would consider buying a "used" timeshare.

    If you really need to get rid of the timeshare fast, you may want to look into timeshare transfer companies, aka timeshare relief companies. They will transfer the timeshare out of your name for a fee so that you’re no longer responsible for the timeshare related fees. It will be a shock to you no doubt to know that your timeshare has very little worth considering how much you probably paid for it, but know that many people have gone through the same experience and decided to go this route.

  2. Iffy
    December 17th, 2010 at 05:38 | #2

    You can’t. The most you can hope for is to unload it for a few hundred on ebay and that is good only as long as the timeshare is mortgage free. Do not deal with any company that has you pay them to list it
    Try selling it back to the Management . I just donated one I have owned for 25 yrs.

  3. Nelson T
    December 17th, 2010 at 05:38 | #3

    Hey there! May I suggest that you contact a few places.

    http://www.timesharelegalgroup.com
    http://www.timesharesforcharity.org

    I used my timeshare as a donation so i was able to write of the amount of the property. You can also call Thomas with buyatimeshare.com. His number is 813-863-1592. I used him a few years ago to sell my wyndham property.

  4. ferlicity
    December 17th, 2010 at 05:38 | #4

    ebay is my first thought, and then craigslist.org

  5. rikkis_playpen
    December 17th, 2010 at 05:38 | #5

    You need to start by forgetting about the work quickly.. It is never a good idea to make impulse decisions to either buy a timeshare or to sell a timeshare ownership. First, you need to take the time to research the secondary market for unwanted timeshare weeks, and try to understand exactly what you own and the realistic value it will have in the current market. Here is some general advice- but I strongly recommend you take the time to do some simply online research before making any decisions. I’ll include some helpful links at the end of the past.

    A)- Timeshares are not an investment.. They do not appreciate over time. It is a luxury item purchase much like a boat or expensive automobile. At least 50% of the price you originally paid can be attributed to marketing costs. The minute the ink dried, it likely your ownership lost at least 50% of its cash value.

    B)- Since you just purchased, it is very likely you still have a mortgage on the timeshare interest. Most timeshare loans are for seven years- so you probably owe very near to the full purchase price. If you are upside down financially- you will not be able to transfer ownership until the mortgage can be cleared at closing. This means either coming to closing with a substantial cash payment out of pocket, or looking for a third-party signature loan or home equity loan to fund the difference. If you don’t have the ability or the credit to obtain an unsecured loan for the payoff- you will not be able to sell at any price.

    C)- Never pay any large upfront fees to sell, rent, liquidate, or donate your unwanted timeshare. One of the fastest growing consumer complaints that is being reported today is the upfront fee timeshare scam.. The upfront fee scam artists will try to convince you that there is a valid reason for you to pay anywhere from $100 to several thousand in advance- but don’t be fooled.. Your best protection is to simply hang up the phone!

    D)- The only true value to any type of vacation ownership (or other luxury recreational purchase) lies solely in its usage and enjoyment over time. If you are in a position where you can’t sell or liquidate, you are left with only two options:

    1)- Stop making your payments and allow the loan or maintenance account to be declared in default, at which point the developer or HOA will turn you over to a collection agent and eventually proceed with foreclosure. This will impact your credit, but if you are choosing between your timeshare loan and your family’s grocery or electric bill- it may be a decision you are forced to make..

    2)- Continue paying your financial obligation if you have the means, and concentrate on learning how to get as much usage and enjoyment as possible from your timeshare ownership. There are several great free resources to help you understand how timeshares work, and how to best utilize what you own to maximize your future vacations and travel.

    Visit these links to learn more..
    http://www.vacation-times.org/ A free timeshare magazine with articles and information, as well as resort features and vacation reviews.; http://www.progressiveresales.com A respected resale broker who does not charge any type of upfront fee to sell or rent a timeshare. There is a ton of great free content and advice on this site; http://www.myfloridalegal.com/timeshares The website of the Florida Attorney General which is devoted to timeshare ownership and offers consumer advice on avoiding timeshare related fraud and resale scams; http://www.timeshareforums.com/ A free social network and bulletin board site for timeshare owners where you can network with others to share information and strategies to get as much usage as possible from your timeshare interval.

  6. Chris
    December 17th, 2010 at 05:38 | #6

    I’m very sad to tell you that you can’t sell your timeshare. Take a look at the market and the amount of people who are simply giving them away. The majority of people don’t understand that to transfer your title costs anywhere between$2,000- $4,000 and that anyone that accepts the transfer will have their maintenance fees increased by %30

    There are people who are out there that say that they will help you break your contract but they don’t let you know that if they fail you’re as stuck as you were before.

    As far as dealing with resale companies make sure that everything that you hear promised to you is put down in paper. Have a lawyer look it over.

    I work for a company that helps people get out of their timeshares. We don’t have buyers, we don’t use cloudy wording, and we back our services with a money back guarantee. We get you out of your timeshare the only way that works. We get your name off of your title.

  1. No trackbacks yet.