Memories of your timeshare experience may bring up nostalgic feelings of unforgettable family experiences. But it could also be a sore spot if you no longer have time to use it and have to keep paying costly maintenance fees. No matter the reason for your decision to get out of it, you may be wondering: Can you sell a timeshare? In this post, we will get an answer to that question and figure out where and how you can sell it.
Can Timeshares Be Sold?
The most direct answer to this question is yes, they can be sold. A timeshare is comparable to any other real property and offers the right to sell it privately. However, timeshares represent a long-term commitment that could last decades or your entire lifetime. Getting out of one is therefore not as easy as it sounds, but it can be done. Let us find out how.
How Can I Sell My Timeshare?
There are at least three main steps involved in selling your timeshare. These are:
- Review the Documentation
Before you get into the actual sales process, it is important to understand the terms and conditions of your contract. Find the original contract and any associated paperwork and go through them to learn everything you can about the vacation unit and the agreement. Check if you simply have a “right to use” the property or hold a deed. If you hold a deed, get a copy of it from the relevant party. Examine the access arrangement to determine when you are entitled to a visit to the property.
- Figure Out the Value of Your Timeshare
Next, find out how much you can expect to make from a resale. At this point, it is worth noting that timeshares depreciate with time at a much higher rate than assets like motor vehicles. Therefore, do not expect to recover your original investment. Confirm whether you are up to date on all payments before listing. To determine a fair price, look at other similar listings, particularly those that are already sold.
- Sell the Timeshare
After doing the above, it is now time to initiate the sales process. While it could be tempting to try and do it yourself, this is a relatively complex process that an expert would be better placed to handle. Grayscale Marketing Source offers reliable timeshare marketing services that include marketing consultation and plan development. As a trustworthy player in the field, it will assist you to list your timeshare and get the needed exposure to sell it within a reasonable timeframe.
Selling Your Timeshare Back to the Resort
Some owners wonder: Can you sell your timeshare back to the resort? Well, as it turns out, you can. Before you explore this option, however, determine if your rescission period has run out. This is a brief period immediately after purchase when you can cancel the agreement and walk away scot-free. Typically, it ranges between three and fifteen days. If this period is over, talk to the resort about their arrangements for accepting used timeshares. While some may arrange to resell it for you, others simply take it back without any charges or payments.
Avoid Potential Pitfalls When Selling Your Timeshares
If you choose to sell your timeshares back to the resort, be careful not to get lured into another deal, no matter how good it sounds. If you opt to enlist third-party services for the sale, go for a marketplace that has an extensive listing of timeshares for sale, such as Grayscale Marketing Source. It has great exposure and a track record of reliability, offering a seamless way out and minimizing potential risks.
