To start with, old-timers of Timeshare owners know this most important rule: Never pay an up-front fee in an effort to sell your Timeshare! Either if the fee has been called in many terms such as: appraisal fee, market analysis fee, marketing fee, advertising fee or even new “fee” terms not been heard in the timeshare trading market, I tell you, all the results turned out historically bad ever since.
Mostly, these companies do it through cold-calls and that is one important tip that you must remember.
There are times that you may have faith in the credibility of the company and he has a legitimate buyer or even a list of several buyers that are waiting to do a deposit on your week. That the company needs is a small hundred of pounds as a deposit from you and that it is refundable. Even if that the company does have a money back guarantee scheme.
Once you fall into this trap and your money is deposited in these companies, then wave goodbye to your hard earned money. Even after going through all the efforts of trying to contact these companies and despite guarantees or promises they told you, the bottom line is that you won't get your money back. Never bother complaining to them, it will be just a waste of your time.
Now, the tip here is that try to be as realistic as you can be you’re your price if you plan to advertise this online or through media (newspapers, tv ad). What you should know is that timeshares being sold in a resale market will have a par value of only 10%-30% of the price when you bought it with your developer. Please don’t be shock by this realistic figure coz it’s true.
One more thing to consider is that there are lots of multiple listings for the same or similar timeshares throughout the web and buyers do know where to find these listings and tends to buy the one listed with the lowest bid price. So if you plan to list your timeshare week, do it with the low price scheme. Or else expect then that your week will be in that listing for a period of time.
Online and Offline Advertising
One great move is to advertise your timeshare offline and online. Meaning, advertising through your local town through fliers, newspaper ads, radio or TV and inform friends, colleagues and other networks that you may have about your timeshare and give them commissions. While doing online advertising is visit websites that offers free timeshare resale services that you can advertise for free or for a low cost (e.g. Timeshare’s Largest Multiply Listing Service, e-Bay).
Selling Price vs. Timeshare Loan
Does your timeshare have an outstanding loan? To tell you frankly, there are a few potential buyers that will be having an interest in buying timeshares that has a loan on it.
The best way to deal with this is to consider refinancing your loan. Getting a financial institution that offers a low interest rate with a monthly payment plan that will not hurt your budget. Other ways that may save your timeshare is to get a home mortgage refinancing scheme or open up a home equity loan that will help you pay that timeshare loan with high interest rates. Solving this problem will increase the marketable price of your timeshare.
Buyers Need Accurate Information
When the time comes and you have been receiving calls and emails from prospective buyers. Be prompt in replying through those email messages and practice courtesy with all your calls, to be able to be considered for a successful purchase of your timeshare. One more thing to consider is to have a reasonable counter offer once a buyer offers less than what you have offered.
Accurate information from your advertisements and online postings are also a measure of your credibility as a seller. Providing wrong information from what they actually read and what you are telling them will be a disaster of losing a prospective client. In short, nobody wants to deal with sellers who are not consistent with their information especially with your Timeshare week details.
Handling your Positive Buyer
In the event that you and your buyer is in the closing stage, my tip is that every little detail of the Timeshare sale is indicated in black and white or in a contract such as ownership transfer and payment terms. Getting some assistance from a lawyer of an online Timeshare consultant will even make the transaction smoother and eradicate further hassles in selling your Timeshare.
Donate your Timeshare
In the event that after doing all the necessary tips indicated in this article and still there has been no success in selling your timeshare then the last option to do is to donate your timeshare and make a tax deduction claim for it.
Generally speaking, selling your Timeshare would really take a lot of your time, effort and patience to make a successful sale.