The ABC"s of Selling Your Timeshare

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As in real estate where the mantra is location, location location; the mantra to remember when you have a timeshare for sale is; value, value, value! Of course, location is important when selling your timeshare - the more desirable a location, the more desirable your unit will be.
But, in order to properly structure your timeshare sale, it is important to educate yourself regarding the concepts connected to timeshare sales in general.
What's it Worth? A great deal of timeshare owners don't really know what their timeshare is worth.
Not unlike an automobile or consumer electronics, it is possible for a timeshare to depreciate in value.
When you have a timeshare for sale, you must be aware that the property can decrease in value anywhere from 30-70%.
If you add in a timeshare that has been financed for a long period of time and at a high interest rate, you have even more of a deficit involved.
It is important to think long term when purchasing and holding onto a timeshare.
It is not wise or realistic to think of your timeshare purchase as a financial investment.
You have to look at it as a smart way to take a vacation and something for your leisure time.
If and when you decide to resell your timeshare, especially one purchased through a developer, the actual selling price in the market is almost always going to be at a price below the initial purchase price.
This is the main concept to remember regarding how a timeshare differs from traditional real estate purchases.
Keep in mind that all of the overhead and promotion/marketing costs have been included in your purchase price.
It has to be structured that way to a degree, as salesmen have to make money, developers have to make a profit, etc.
Take the time to research what other timeshares similar to your unit are selling for.
You can find this information online in timeshare resale sites.
Negotiation is Key Remember that like many other commodities, most buyers are expecting to negotiate with you, so be aware of this when selling your timeshare.
Always respond to all inquiries about your timeshare for sale, and be prepared to make counter offers like you would with other real estate.
If you are in the unfortunate situation where you owe more than what the timeshare is worth, you may want to consider a loan on your primary residence's equity, placing the balance on a credit card with a low interest rate or renting until you are ready to sell.
Promotion & Marketing Once you have decided on a strategic price, it's time to market your timeshare sale.
Almost all timeshares for sale are in some way connected to the internet, so this is the most efficient way to promote your timeshare sale.
There are many sites that are free or at a minimal cost.
If you are not familiar with what is out there, there are generalized sites like Craig's List or eBay and several sites specifically designed for selling a time share.
Perform a search with the words "timeshare sale" or "selling timeshare" on Google, Yahoo or MSN for example and you will find a number of resale companies to contact.
Of course you can always use a broker, but know that the commission percentage is a great deal higher than that of a home or condominium due to the lower price.
Once you find a buyer for your timeshare sale, it is important to use a licensed & bonded closing company.
Traditionally it is the buyer that will pay the closing costs, so you are off the hook there.
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