Deeded timeshares are those in which you own your part of the property, as opposed to just leasing it for a number of years. However, just because you own your part of the timeshare doesn’t mean selling it will be quick and easy. There are a number of rules attached to selling a timeshare that can slow the transferring to a new owner, so count on the process to take several months, even if you find a buyer relatively quick.
Find out what the property is worth. You can do this by checking what timeshares similar to yours are selling for online, or you can contact the timeshare company managing your building to ask about prices. The Federal Trade Commission recommends contacting a timeshare appraisal service to get an idea of the actual value of the place.
Determine a fair price for the property. It’s unlikely that you’ll be able to sell the timeshare for as much as you paid for it, especially if you’re not in one of the most popular locations. Make your price competitive, even if it means taking a loss.
Take photos and write a specific descriptions of the apartment and the facilities. Potential buyers will want to know about the amenities, but also about the little perks of owning your particular timeshare, such as a good view, a high floor or a particularly large living room.
Place your ad in a wide number of websites, periodicals and bulletin boards if you decide to sell the timeshare yourself. If possible, choose websites that allow you to add photos. Sometimes management companies are willing to buy back a timeshare or will allow you to list it for sale in one of their publications or website.
Contact a reseller if you don’t want to handle this on your own. The Federal Trade Commission recommends researching a reseller carefully before signing anything. Ideally, you should pay after the timeshare sells, and not in advance. Resellers will take a commission of up to 40 percent of the final sale price, according to CNN Money. Choose a reseller that’s also an authorized real estate broker, as they will understand property handling much better.
- The longer you can hold out on a seller the high the sell price. If you must get rid of it right away low ball the sell price and liquidation can be easy online.
Tammy Dray has been writing since 1996. She specializes in health, wellness and travel topics and has credits in various publications including Woman's Day, Marie Claire, Adirondack Life and Self. She is also a seasoned independent traveler and a certified personal trainer and nutrition consultant. Dray is pursuing a criminal justice degree at Penn Foster College.