Taking small or extended stress-free yearly vacations as a Diamond Resort International timeshare owner has many benefits. No worries about room availability, constantly fluctuating costs due to season changes, holidays, special occasions, local events and such. For some, monthly payments, maintenance fees and a difficult economy cause stress and prompt owners to sell. Owners actively seek advice on how to sell without much additional cost to themselves. This six step procedure assists owners in effectively selling their timeshares.
Avoid large upfront fees or deposits. Stay clear of companies contacting you to conduct an appraisal, advertising, marketing, marketing analysis or anything that costs a few hundred dollars or more. These are scams. Companies requiring a refundable or money-back guarantee fee don't guarantee the timeshare to sell. Money never gets refunded, even with consumer complaints. Incur fees only for ads placed in publications or online memberships for advertising. These are normal and nominal ($10 to $50) fees.
Determine the true value. Owners who price the resort too close to the original sales price make buyers become disinterested. Establish a realistic price by conducting due diligence. General resale market calculations reveal that timeshare resales are typically 30 to 50 percent of the original price. Evaluate the sales prices of comparable weeks by contacting the resort and checking out online resale markets and eBay auctions. Investigate real estate records in the county where the resort is located for accurate figures.
Advertise in the timeshare resale market. Review ad formats before placing an ad. Advertise online for free or for a $10 to $50 listing fee or registration at resale sites. Printed publication advertising is recommended. Place classified ads in the "Real Estate Timeshare" sections of major newspapers and local newspapers at the resort location. The American Resort Developers Association (ARDA) shows that timeshare buyers generally prefer to use the resale market for their purchases.
Prepare to pay off existing loans or pay at closing. Consider refinancing a home mortgage, or open a home equity loan to pay off the high-interest-rate timeshare loan. With no loan, timeshares become attractive and marketable.
Treat prospective buyers with consideration. Quickly respond to emails, phone calls and offers. Make reasonable counteroffers when offers are below the asking price. Represent the timeshare accurately in ads regarding maintenance fee, views, fixed or floating weeks and other important information. Inaccuracy may be construed as deception on the seller’s part or could cause legal difficulties after a sale. Contact the resort to ask about deals if traditional selling methods and prices are not offered or a deal seems unusual.
