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I Want to Sell My Timeshare

Finance, Business Market

I Want to Sell My Timeshare

The global timeshare market has crossed the $10 billion mark. With the figure increasing year over year, more sellers and buyers are looking at who is running the timeshare ecosystem. With current events, however, there is not debate that the market has come to a halt.

If you open your inbox today, you will find at least 10 emails asking you to sign up for a free family vacation, but you never bother to open it because you aren’t sure if it’s legitimate.  Surprisingly, many people not only open these emails but also pay for these ‘free getaways’.

As ironic as it is, have you ever wondered why people continue to spend their money on them?  The short answer is ‘a well-planned sales technique.’ If you are planning to sell your timeshare, that’s exactly what you need. A well-formulated sales strategy can allow you to release your property.    

 

Is it possible to sell a timeshare?

When you buy a timeshare, you never consider the maintenance fees. Buyers are never informed about any of these additional costs, so when you finally get possession of your property, you can’t cope up with the pace of the expenditure.

Fortunately, you can sell your timeshare. You have to be absolutely sure about your decision. Selling timeshare requires time and energy. That’s one of the reasons that owners prefer transferring their timeshare ownership to another family member over releasing it into the atmosphere.

 

What paperwork do I need to sell my timeshare?

You must be able to produce certain documents to make the sale official. This includes sharing personal information like your social security number. This applies to both buyer and seller, it’s an added measure of security for both parties.  You might also need to produce the title insurance details and the resale company associated with the sale. Most importantly, you will be expected to provide the money, contract ,and deed of sale.

 

How long does it take to sell a timeshare?

Selling a timeshare isn’t the same as selling real estate. The nature of the ownership makes it vastly more complicated to release the property. It might take longer if you don’t want to sell it without losing money. Most owners prefer to sell the timeshare at a loss to save time. Even then, you need at least 2 to 3 months to get your name off of the title.  Regardless of the complexities, it’s essential to follow all legal procedures at all times to avoid property fraud. 

 

Best way to sell your timeshare

The best way to sell your timeshare is to have reasonable goals. Just because it’s difficult to release the ownership doesn’t mean you can’t sell it. Determine what you want at every stage of the sale. If the first step of your sales strategy is finding 50 leads, make sure you make that happen, If the second stage involves meeting 2-3 prospects every day, make arrangements for it accordingly.  Whatever you do, stay motivated, this will keep you and the process on track.  Additionally, keep your presentations short. If both parties have determined a specific time slot for the meeting, ensure you wrap up the session within the timeframe no matter what happens. Buyers don’t like to sit through long sales routines, and they likely have other commitments after the meeting.  You can also pay attention to your prospects’ body language. If they seem to be losing interest in your pitch, end it. You will save time and energy.  Lastly, beware of resale scams. When it comes to timeshare properties, resale companies are notorious for scamming owners into paying more and never actually helping them make a sale. If you have to pay anything more than $100 upfront, find the nearest exit.

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