The Sunshine State is one of the world’s top holiday destinations, with its endless stretches of white sandy beach, warm weather, and festive atmosphere. For this reason, Florida has become the timeshare capital of the world. Many tourists who come here each year purchase timeshares to own a slice of paradise for a week or two.
For people living outside the state, a timeshare could simply mean a more luxurious or convenient way to enjoy Florida’s 8000 miles of coastline and way of life. A timeshare has become the more affordable alternative to buying a vacation home or booking a hotel.
While it’s not considered an investment, some people would buy multiple timeshares just to extend their downtime dollars. Some would trade their week for a week in a different location if they wish to vacation elsewhere.
The downside to this is that maintenance fees are constantly on the rise, making it hard for owners to catch up.
Selling can be a good option if you’re tired of paying fees for a timeshare you no longer use, or you simply can’t afford it anymore.
The Dos and Don’ts When Selling a Timeshare
Do: Watch out for fraudulent sales pitches. If someone calls you and offers to sell your timeshare for you, adding that there’s already a buyer, hang up the phone immediately.
Don’t: Pay any upfront fee for your timeshare resale. You should only pay the closing and other processing fees once the sale is made.
Do: Research the company or realtor you contact. Verify the legitimacy of the business or license and get as many customer testimonials and reviews as possible.
Don’t: Rush into making a decision. Remember, when you sell your timeshare, you won’t be able to recoup your initial investment or regain the equity you’ve built on the property. So it’s important that you get the best deal possible to offset your investment somehow.
Do: Hire an experienced timeshare attorney who can explain timeshare sales and laws laid out for sellers.
Don’t: Agree to a timeshare sale without comparing rates and consulting the experts.
When in doubt about the company offering to sell your timeshare, it would be best to hire an attorney experienced in this field. Contact The Law Offices of Susan M Budowski, LLC today and let the leading timeshare attorney in the state help you navigate the complex, highly-saturated resale market.