Many people have heard about the allure of a timeshare. Statistics show that there are currently 200,720 timeshare units just in the United States. Unfortunately, timeshares aren’t often all they’re cracked up to be. In fact, 85% of those who have purchased a timeshare end up regretting this purchase. There are various reasons behind this regret including costs, fear, and distrust as several main concerns. It’s understandable to wonder how to sell a timeshare property. With that in mind, here are three tips to follow while trying to sell your timeshare.
- Don’t Fall for Unsolicited Sales Attempts
In certain situations, you might find yourself getting bombarded with unsolicited of people offering ways to help you get out of a timeshare. Unfortunately, many of these alleged services are merely nothing more than timeshare sales scams. These scammers will often attempt to allure you with timeshare selling tactics by claiming that they have buyers at the ready. That being said, it’s rare that you’ll ever be provided with legitimate proof that these buyers truly exist.
- Never Pay a Fee Before Timeshare is Sold
While there are many scammers in the world of these properties, there are legitimate timeshare selling companies. Considering that, no legitimate timeshare company should ask you to pay a fee before this property is sold. It makes sense that companies that aren’t legitimate would try to charge you fees, as many timeshare owners pay plenty of them. In fact, statistics show that 66% of those who own timeshare report that expensive maintenance fees as the main reason for wanting to exit their respective contracts. While timeshare sellers often have to charge fees in order to remain in business, those should only be paid after the property is sold. Paying fees early on increases the likelihood that you’re not dealing with a company that will help you get out of a timeshare.
- Know the True Worth of the Property
Before learning how to sell a timeshare property, it’s wise to know the real worth of this previous purchase. With that in mind, it’s wise to contact an independent appraiser from someone who is licensed. This allows you to receive a fair estimation of the resale value of your property. Be warned, you’re not likely to hear a resale value that is anything close to what you’ve originally paid for this property. Timeshares are notoriously known for losing an immense amount of value after they’ve been purchased.
To summarize, several tips can help you sell your timeshare property. It’s understandable to feel helpless while being hassled by timeshare selling companies. In addition, you might find yourself threatened by the company you’ve purchased the timeshare from. No matter what the reason is for your stress, it makes sense to want help from a legal professional. Considering that, it’s wise to contact a timeshare lawyer. Learning how to sell a timeshare property can feel overwhelming. Let a legal professional help you in the event that you’re unsure or having difficulties selling your timeshare.