First, if you know or a reliable and reputable timeshare broker or reseller, you should contact them to find out more about their selling proess and charges. You mind even want to get them to begin the selling process, so long as it's not on an exclusive basis. And remember, don't pay any money upfront.
The following websites can help you start your timeshare selling process.
a) Auction Websites - Ebay and Yahoo! Auctions etc.
Starting with general online auction websites maybe a good start as many people are already familiar with the process and there are some structures in place to make the transactions safer. While it is straightforward, you need to find your own lawyer and deal with the paperwork yourself.
b) Classified Ads
Selling through general classified ads entails the same problems as selling via auctions. You have to engage your own lawyer and deal with all the paperwork yourself.
Apart from the popular classifed sites like Craigslist, there are timeshare-specific sites that you can post your ads on. This is better as the target audience is more focussed and your chances of selling is higher. As it takes longer to sell timeshare, such ads are often posted for half a year to a year or more.
c) Timeshare Brokers or Resellers
If you search for selling timeshare, most of the sites you find will be brokers who will basically do everything it takes to complete the sale so it is very much more convenient compared to DIY solutions like selling through auctions and classified ads. However, you have to be prepared to pay more for the convenience. The fee structure for different brokers are different. While some may charge an upfront listing fee, some charge commissions and yet others would charge both an upfront fee and a sales commission.
It is usually not wise to pay fees upfront unless the broker is someone you trust. Many people will choose to pay commissions upon successful completion of the sale while some people choose to pay upfront fees as the upfront fees are usually in the hundreds compared to the commissions which are usually in the thousands.
Some brokers charge as much as 20% to 40% of the sale price as their sales commissions and the legal and administrative fees have not even been added. If you search around, you will probably be able to find a few brokers or resellers who charge flat fee commissions or variable commissions of 10% to 20% instead of 20% to 40%.
Despjte their high fees, it is sometimes better to go with a broker than trying to sell on your own as their experience and expertise will help you complete the sale faster and more smoothly. Many who tried to sell on their own ended up either not being able to sell or found out that the legal and administrative headaches were not worth the savings.
What If I Cannot Sell Or If I WIll Lose Too Much Money By Selling?
1) Enjoy using the timeshare resort
Obvious as it is, some people may be so bent on selling that they forget the joys that timeshare ownership can bring them. If you don't like your resort, exchange for another one through Resorts Condominiums International (RCI) or Interval International (II), depending on which exchange your resort is affiliated with.
2) Rent it out
If you can't use your timeshare and you can't sell it, it makes sense to rent out your timeshare week. Don't be greedy and try to profit from the rental. If you set an attractive price, there will be takers and you will be able to get some cash from an otherwise useless ownership.
3) Give it away
There is always the option of giving the timeshare entitlement to your friends or family. When you see their smiles after they come back, you will know you have done a good deed and that may be of much greater value than the measly amounts you might get via rental or resale. - 15432
The following websites can help you start your timeshare selling process.
a) Auction Websites - Ebay and Yahoo! Auctions etc.
Starting with general online auction websites maybe a good start as many people are already familiar with the process and there are some structures in place to make the transactions safer. While it is straightforward, you need to find your own lawyer and deal with the paperwork yourself.
b) Classified Ads
Selling through general classified ads entails the same problems as selling via auctions. You have to engage your own lawyer and deal with all the paperwork yourself.
Apart from the popular classifed sites like Craigslist, there are timeshare-specific sites that you can post your ads on. This is better as the target audience is more focussed and your chances of selling is higher. As it takes longer to sell timeshare, such ads are often posted for half a year to a year or more.
c) Timeshare Brokers or Resellers
If you search for selling timeshare, most of the sites you find will be brokers who will basically do everything it takes to complete the sale so it is very much more convenient compared to DIY solutions like selling through auctions and classified ads. However, you have to be prepared to pay more for the convenience. The fee structure for different brokers are different. While some may charge an upfront listing fee, some charge commissions and yet others would charge both an upfront fee and a sales commission.
It is usually not wise to pay fees upfront unless the broker is someone you trust. Many people will choose to pay commissions upon successful completion of the sale while some people choose to pay upfront fees as the upfront fees are usually in the hundreds compared to the commissions which are usually in the thousands.
Some brokers charge as much as 20% to 40% of the sale price as their sales commissions and the legal and administrative fees have not even been added. If you search around, you will probably be able to find a few brokers or resellers who charge flat fee commissions or variable commissions of 10% to 20% instead of 20% to 40%.
Despjte their high fees, it is sometimes better to go with a broker than trying to sell on your own as their experience and expertise will help you complete the sale faster and more smoothly. Many who tried to sell on their own ended up either not being able to sell or found out that the legal and administrative headaches were not worth the savings.
What If I Cannot Sell Or If I WIll Lose Too Much Money By Selling?
1) Enjoy using the timeshare resort
Obvious as it is, some people may be so bent on selling that they forget the joys that timeshare ownership can bring them. If you don't like your resort, exchange for another one through Resorts Condominiums International (RCI) or Interval International (II), depending on which exchange your resort is affiliated with.
2) Rent it out
If you can't use your timeshare and you can't sell it, it makes sense to rent out your timeshare week. Don't be greedy and try to profit from the rental. If you set an attractive price, there will be takers and you will be able to get some cash from an otherwise useless ownership.
3) Give it away
There is always the option of giving the timeshare entitlement to your friends or family. When you see their smiles after they come back, you will know you have done a good deed and that may be of much greater value than the measly amounts you might get via rental or resale. - 15432
About the Author:
How To Sell Timeshare Guide is a helpful resource for selling your timeshare. To learn how Begin to Sell Timeshare by visiting How To Sell Timeshare Guide
