6 Facts to Consider When Selling Your Timeshare Property
Many people who own a timeshare sell the property at a later date due to a change of interests with where they vacation. Selling a timeshare will allow you to vacation in a different destination without returning to the same spot each year. When you’re ready to sell your property, there are a few facts to consider.
1. Talk to a Real Estate Agent
According to money.usnews.com you’ll want to obtain help from a real estate professional that specializes in selling timeshares. Contact the Licensed Timeshare Resale Brokers Association to find reputable agents that can work with the location of the timeshare. Find someone who is familiar with the resort where the timeshare is located.
2. Research Similar Properties on the Market
Determine how much you should sell your timeshare for by researching the listing prices of other timeshares in the same region. You can list it for several thousand dollars more than you plan to sell it for to have enough room to negotiate with potential buyers once they make an offer. Avoid paying any money upfront when hiring someone to sell the property for you.
3. Contact a Transfer Agency
You’ll need to contact a title agency to complete the transfer of the property to the buyer. They’ll draft a contract that both parties can sign. You will not be required to hire a real estate agent to work with a title company.
4. Watch for Fake Guarantees
Many people who want to sell their timeshare make the mistake of falling for fake guarantees from companies who promise to sell the property. The scams can cause you to lose thousands of dollars for the false services. Research reviews of different companies before you hire them and avoid taking advantage of offers that seem too good to be true.
5. Consider Renting it Out
According to aol.com, consider renting the property out if you are having difficulty finding a buyer. The rental fees can often cover the cost of the timeshare and will help you to avoid losing any money.
6. Advertising Will Pay Off
Advertise the property on timeshare groups online if you sell it on your own and are under a deeded timeshare agreement. Take professional photos and provide plenty of details in the content. Timeshare Users Group is a popular option that also offers tips and information with selling the product.
When you want to sell your timeshare property and avoid having to continue making payments, it’s important to consider a few facts and tips. By doing a bit of research, you can avoid mistakes and find the right buyer in a short amount of time.