Many people who have recently became timeshare owners or who have spent their vacation on their timeshare property for years on end and they don’t want to do that next year again ask themselves the question “can you sell a timeshare?” The answer is definitely yes, why not, but in reality, the process can be difficult, lengthy and full of obstacles. If you are currently trying to find out the best way to get rid of your unwanted timeshare, or seeking a timeshare cancellation, here are a few things that you should know about and some tips to help you with the sales process.
Check the Clauses of Your Contract
To be able to start the selling process, you need to know exactly what it is that you are selling. There are two types of ownership that you can purchase through timeshare contracts: deeded ownership, that gives you the title over the property for your lifetime and right-of-use type of ownership that does not give you the title over the property and comes with a limited duration, too. While deeded timeshare works in a way very similar to standard property ownership, the duration limits that come with right-of-use contracts will not change if you sell the right, so the new owner will be able to use the property only for the period of time specified in the initial contract between your seller and you.
Use Word of Mouth
You can start the selling process by asking around among your friends and relatives whether they want to buy your timeshare. You probably have lots of pictures that you can show to interested buyers – if the place is great (which most timeshare properties are, indeed), you can use the pics to pitch and to sell your property.
You can try to find out if the timeshare owners who use the property right before or right after your period on the property if they would care for longer vacations.
Add Your Timeshare to Listings Online and Offline
Many real estate companies, independent realtors and real estate websites sell timeshare properties as well, so listing your timeshare with them can boost the effectiveness of the selling process. Try to find realtors or companies that have nationwide coverage, that way you can maximize the number of people that see your ads, maximizing your chances to sell, too.
Place Your Timeshare Property on Auction and Retail Sites
The most important auction and retail websites nowadays have special sections where you can advertise your intention to sell your timeshare. If you choose to use these sites as well, start by reading the terms and conditions of the website of choice to understand how the selling and bidding process works.
Contact the Initial Seller
The principle aim of timeshare sellers and timeshare developers is obviously to sell their properties, but even so, many of them have buy-back programs in place that can help you out. Contact your seller and ask whether they are interested in buying back the property that they have sold to you – they might accept, they might refuse, but it is sure worth a try.