How to Sell Your Timeshare Week
By Chris Joseph
If you purchased a timeshare week at or near your favorite golf resort, you may find yourself in a position of wanting or needing to sell, now or in the future. Perhaps you have found that you are unable to get there during the your week, or maybe the cost has become prohibitive. While selling your week can be difficult and may require more time than you hope, it can be accomplished with the right strategy.
Instructions
Difficulty: Challenging
Determine the timeshare week's selling price. If you purchased you timeshare from a real estate developer, it is unlikely that your will be able to recapture your original purchase price. Plan on a sales price of up to 50 percent less than what you originally paid. You can also see what similar units are selling for by visiting websites such as TheTimeshareUsersGroup.net.
Advertise the fact that you are selling your timeshare week. There are a variety of advertising venues that you could use. For example, if your timeshare is located on or near a golf course or resort, you can advertise in the classified section of golf publications. You can also make use of websites like TimeSharing Today at tug2net. You could even try listing it on eBay and see if you can get a higher price by selling it in an auction format.
Field inquires from potential buyers. Be sure to provide accurate and up-to-date information to your prospects to avoid problems after the sale. Respond to any correspondence as quickly as possible. If the prospect makes an offer that is lower than your asking price, consider making a fair counteroffer. It still may not be the price you were hoping for, but it might turn out to be the best offer you receive.
Complete the sales process by putting the terms of the deal in writing. You can handle the transaction yourself or with the help of an attorney, although the cost of the latter may be unaffordable, especially if you are selling at a loss. Keep in mind that any closing costs are negotiable. For help in completing the transaction, you can use the Resale Document Kit available at stoday.com/shop/docKits.aspx.
Consider renting your week if the amount of your loan greatly exceeds the amount for which you could sell your time share. This can help you recoup some of your losses until your outstanding debt becomes more manageable, making a sale more feasible. This is also a way to help you receive cash if you have trouble finding a buyer.
Tips & Warnings
Avoid scams by staying away from companies that offer to find you buyers for an up-front fee
About The Author
Chris Joseph is a freelance writer residing in Pennsylvania. He has written hundreds of articles for newspapers and the Internet on a variety of topics, including several on golf for GolfLink.com. He holds a Bachelor of Science degree in marketing from York College of Pennsylvania.
