Tips For Getting Rid Of Your Timeshare

Posted on: 26 August 2019

When you first buy a timeshare, it tends to be something you enjoy. You visit every year or a few times per year, and the idea of not having to pay for accommodations while on vacation is really nice. However, after a few years, many people start to lose interest in their timeshares and desire to go on vacation elsewhere. If this rings true for you, then you probably want to sell your timeshare, which can be difficult but is possible with these tips.

Don't make getting your money back the priority.

Some people take years to sell their timeshare mainly because their goal is to get back what they paid for it. But the demand for various timeshares and timeshare locations changes drastically over the years, and there's a good chance your timeshare is no longer worth what you paid for it. If everything around you is selling for $20,000, you're not going to get $40,000. You're better off just accepting that rather than struggling and failing to sell for $40,000 for four years. Look at the money you lost as money you spent on vacations over the years, and it doesn't seem so bad!

Consider selling back to the resort.

Sometimes you'll have the option of selling your timeshare back to the resort that sold it to you. Many people steer away from this route because they figure they will earn more selling it to an outside buyer -- which is true. However, selling back to the resort is much simpler. You sign a few papers, and you're done. It might be worth earning $2,000 or $3,000 less if it means you don't have to squeeze listing the property, meeting with agents, and hiring a real estate lawyer into your busy schedule.

Think about renting it.

Before you decide, for certain, that you want to sell your timeshare, consider renting it out. With the amount you charge, you could earn more each year than the cost of your annual fees. You could always do this for a few years in order to earn back some of the money you would lose in selling it, and then sell it. 

If you do ultimately decide to sell your timeshare, just make sure you carefully vet the timeshare exit company that you work with. Look for someone experienced and who has good reviews from past clients. Selling timeshares is not for the faint of heart, and you need a true professional on your side.

If you're interested in timeshare selling, contact a timeshare exit company in your area.