If you think that selling your timeshare will be just like selling a house – think again. Simply put, when a buyer is interested in purchasing a home, they know that they are buying full ownership of the property. However, when purchasing a timeshare, ownership is not always clearly defined. As a result of the complex terms of timeshare contracts, many buyers get confused and uninterested quickly. If you want to increase the chances of selling your timeshare, knowing how they work is the first step.
There are plenty of reasons that people consider sharing their timeshare. At the top of the list might include financial burdens and family changes. While most timeshare owners will try the selling process on their own, if you’ve tried that route with no success, a company like Allied Solution Group offers timeshare relief services.
Know the Facts
Whether selling timeshare on your own or with the help of a service provider, here are some facts you’ll want to know about your package.
1. Week Number
The value of your timeshare will greatly depend upon how attractive your week number is to potential buyers. In some instances, a timeshare property is divided into 52 weeks, each week determines when you’re allowed to stay on the property. How much demand is there for vacations during your week? For instance, if you have a timeshare in Florida and your week falls in the summer you can likely get more for your timeshare than if it were during the fall when school is in session.
Since timeshares do not appreciate, they often don’t resale for much. When setting your sell price, do not aim too high or else you could find your timeshare on the market for a long time. You should instead expect to receive somewhere between 25 and 50 percent below the developer’s price.
While amenities and quality are important with a timeshare, what vacationers are really looking for is a great location. If you’re looking to sell your timeshare, but you haven’t selected a hot tourist destination, you may run into some trouble. Hot spots like Florida, California, New York, and Nevada are going to be the biggest attractors.
4. Deed Vs. Non-Deed
Another factor that will impact your ability to sell your timeshare fast is whether or not it is a deed or non-deed contract. A deed obviously provides the vacationers with ownership to a timeshare property. However, a non-deed is a shared property that they have rights to on a predetermined week.
As you can see, there are several factors that can determine how well, if at all your timeshare will be an easy sell. If you have a nice vacation property during prime vacation season in one of the hot spots in the US, chances are you’re going to have an easy time attracting interested buyers. Whether you’re selling for personal or financial reasons, make sure that you know the facts so that you can get the most out of your investment.