Selling timeshare can raise lots of questions for owners, and it often seems like a more complex process than buying timeshare in the first place. Whether you are selling timeshare points or weeks at a particular location, there is bound to be lots of questions that you will want answers to before taking the plunge to sell. Here are some of the most frequently asked questions posed by timeshare sellers.
Arguably, the most pertinent question any timeshare seller will want to know is how easy it will be to get out of their timeshare. The answer isn’t that simple, unfortunately. A lot depends on whether the owner is selling the timeshare independently, or using an agency. Trying to sell off your own back usually takes longer, for instance. The type of property you own and the location are also factors to consider. Ironically, it can be harder to sell timeshares the better they are, as the maintenance fees appear to be that much higher.
Many timeshare sellers query the value of their timeshare. Again, this is hard to predict. Some timeshares retain a portion of their purchase value, while others lose value in much the same way that a new car depreciates as soon as it leaves a showroom. The value is only worth what someone is willing to pay for it, so look at similar properties on sale to get a rough guideline. Even if you do lose out, try to think of the personal value that you had from your timeshare over the years.
It can be confusing for timeshare owners to understand where they stand with regards to paying maintenance fees prior to selling. In most cases, all outstanding maintenance fees will need to be paid before a sale can proceed. Having said that, if demand is high, you may find a buyer who is willing to foot the bill. Once your timeshare transfers, you are no longer responsible for any future fees as outlined in the terms of your agreement.
If, for whatever reasons, a timeshare owner needs to sell quickly but they have committed to use the property over the coming months, it can leave the owner uncertain as to how to proceed. You can still use the timeshare during the selling process, but if you don’t want to use it, this is usually not a problem either in most cases. Outstanding fees will still need to be paid, however. It is worth discussing your situation with an expert timeshare organisation who can assess your individual circumstances and work out your best options in this case.
If you also use the services of an expert organisation to sell your timeshare, then it is worth noting that they will be the ones to manage the process, including contacting the timeshare resort about the intended sale as well as any transfer once it takes place.
Finally, one of the biggest concerns many timeshare owners have when trying to sell is who to trust to help them through the process. As a rule of thumb, avoid anyone who asks for money up front or makes offers that seem too good to be true. If a company does not complete the sale service for you, then they should not ask for payment.
- Wednesday, 11 February 2015 08:07