If you have decided to sell your timeshare, and you are hoping for a quick sale, you can increase your chances of this happening by being as clued up as possible about the procedure. One of the biggest things that can influence the resale of timeshares is knowing how much your timeshare is worth. If you have an accurate indication of its value, it makes it easier to price it appropriately, and, hopefully, achieve a sale. Even if you do not intend to sell, or you are unsure of your long-term plans with regards to your timeshare, it can still help to know its market value, in order to help make any decisions for the future.
If you are looking for a quick sale then your best chance of success is to price your timeshare realistically. Unfortunately, in many cases, this could mean that you have to sell it cheaper than what you bought it for, resulting in a loss. This can be hard to come to terms with for many owners embarking on the resale of timeshares, but try to think of it in a different way. If you have owned the timeshare for many years, you will have had countless holidays, and would probably still be better off compared to having had to buy equivalent package holidays over that time.
There is no tried and tested formula for working out the value of your timeshare, but there are a number of factors that should be taken into consideration. You can probably expect to achieve a higher value based on the quality of the resort, and its popularity. The location of the timeshare is also an influencing factor, as well as the week or time of year. Timeshares that can be used in the peak summer months of July and August, as well as the traditional school holiday periods, will be in greater demand, thus upping the value of the property. The bigger the accommodation and appeal of its facilities or features, the more you can expect to sell it for. Often, leading brands such as Marriott and Four Seasons tend to experience higher demand levels. As well as brand affiliation being paramount, those resorts that have an active resales programme and staff devoted to this area can help to keep demand up in the resort. On the other hand, resorts with abandoned units or no resales programme can drive prices down. Values may also be influenced according to the type of ownership, such as deeded versus right to use.
It is always a good idea to also have a look to see what other timeshare properties are selling for that are of similar type to your own in the resort, so that you can price yours competitively in comparison. To achieve a quick sale, it is worth being a bit flexible and open to negotiate. If no interest is being shown, you may need to reconsider the price. Even if you are eager to sell, avoid acting in desperation if you can, and stay away from companies that ask for an upfront fee to sell for you, or try to lure you with offers that seem too good to be true.
- Monday, 12 January 2015 08:05