In most cases, people are very happy with their timeshare purchases and have no desire to want to sell their properties, but there will always be cases where owners wish to sell their units for some or other reason. Timeshare owners may wish to buy another timeshare in a different destination, or perhaps the timeshare has been inherited; whatever the motive, timeshare resales are a phenomenon that can easily become a nightmare if you don’t follow some simple steps.
Timeshare Resale Scams
The most common pitfalls are relatively easy to identify; these outright scams are orchestrated by fraudsters whose primary intention is to rip you off.
A popular trick is to contact timeshare owners by telephone, email or by post informing them that a resale company has found a buyer to purchase the timeshare. Usually these timeshare offers are very attractive, and owners think they are about to make an excellent return on their investment. However, once you have paid the introduction fee to gain access to the potential buyer’s information, the likelihood that you will ever hear from the company again is very slim.
Another way that timeshare scammers can diddle owners wishing to sell their timeshare is to charge an upfront fee to list the timeshare. What you find is that your timeshare never gets sold, but the company make a profit out of you regardless.
Be wary of any timeshare resale company that offers to buy your timeshare, especially if they ask you to run an appraisal or report on the timeshare that is carried out by a company of their choice. You will probably find that after the survey has been completed, the company no longer wish to buy your timeshare, yet they have made a profit on your survey.
Timeshare Resale Success Methods
You first need to make a decision about using a timeshare broker to sell your timeshare or selling it privately. If you feel safer using a broker, choose a fully registered resale broker that comes recommended by your original timeshare operator. It is important to use a broker that takes a commission rather than an upfront fee and to listen to their advice about the sale price.
If you want to sell your timeshare yourself through private means, the first thing you need to consider is the price. For this, you are well advised to research other like properties, looking at the resort, location, number of rooms, ages and so on. Once you have established a competitive price you can start advertising the timeshare on the internet or local press.
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