A timeshare is no easy investment. In fact, as many as 66% of timeshare holders in 2016 said they wanted out of their timeshare contract because maintenance fees were too high. And 46% said maintenance fees were their top reason for leaving their contract behind.
However, it isn’t always easy to get out of a timeshare contract let alone consider timeshare selling. That being said, here are a few things to consider prior to selling timeshares.
- Know the basics about your property
Many timeshare buyers feel nervous about buying timeshares because they don’t know enough information about them. Be sure you know the ins and outs of your timeshare property prior to listing it for sale. Details such as the type of ownership you have, the specific season or week you own the timeshare, and any on-site attractions. Buyers will be more attracted to your timeshare’s advertisement knowing these key details.
- Know how much your property is worth
Another key detail to know about your timeshare is how much it’s worth. Many people who just want to be rid of their timeshare are willing to simply sell it for a few dollars. However, this can be risky, expensive, and isn’t worth it. You’ll want to list your timeshare at a marketable price. However, you may want to list your timeshare for a little less than it’s truly worth. This is because the original timeshare you purchased most likely included marketing and sales fees with its original price.
- Know how much you owe on your timeshare
If you have an outstanding debt on your timeshare, you’re still able to sell it to someone else on the resale market. However, it’s important to note that you’ll still need to pay off the money you owe on the timeshare even after you’ve sold it.
Timeshare selling can be incredibly difficult especially with so many timeshare sales scams out there. Fortunately, the law offices of Susan Budowski can help you get out of your timeshare contract without the need to sell it. For more information on how to cancel a timeshare purchase, contact the law offices of Susan Budowski today to make a consultation.