Living in a recession means that many people are cutting out unnecessary expenses. A timeshare seems attractive when it's purchased, but when you need to cut back, it may be a pricey liability. A timeshare is legally considered a real estate purchase so it is possible to make money on the deal, but don't count on it. Remember, once it's sold you'll no longer be making a monthly payment or paying maintenance fees and taxes.
Check similar timeshares. Research what timeshares like yours are selling for. Find out the price of a new one and what similar timeshares are going for at the same resort. Price your timeshare a little lower than what other people are asking to give you an edge. Remember, in a recession it's a buyer's market and you'll most likely receive a lot less than what you paid for it.
Gather your information. Make sure you keep all your records together; it will make it easier if you have a prospective buyer. Include property pictures to show a prospective buyer.
List with a broker. Buyers will search online if they're interested in a particular property. Brokers will know exactly how to market your timeshare for the best results.
Sell it yourself online. Advertise your timeshare online on a site like Craigslist where people might search for a particular property. Also, consider an online auction on eBay or another site. Just remember to set a reserve.
Advertise in newspapers. An effective way to sell a timeshare is to find the right place to advertise. Think about where the property is located and decide who might want to visit that area. Advertising a southern California timeshare in the middle of the summer in Florida probably won't yield the same results as advertising the same property in the winter in Maine. Speculate who might want to visit the area and target them.
