Selling Timeshares
Sell Time Share the Best Way
by Nan Wood
Timeshare selling can be a lucrative business. Timeshare on a property like that of a condo, vacation resorts, yachts, houseboats or motor homes can be a financial exchange as well.
An owner who has time share can sell it to other interested buyers. One reason why one would want to resort to selling his timeshare is he might not be able to use it at that given time and it was already paid for by him. So as to not go through a fiscal loss, he’ll compensate for it by letting somebody else use it – and that someone will be paying him instead.
To avoid the illegal re-selling of timeshare, it is best that the parties involved comprehend fully well the terms of their transaction. First of all, one must know what kind of timeshare does the owner own.
Running it briefly, the different kinds of time shares are:
1. Fixed week ownership
The most basic timeshare unit. Example: Fourth of July Holiday is always in high demand. If you own this particular week at an often-visited resort, you can use it every year to your advantage.
2. Floating
Ownership is the number of weeks. Example: Weeks 22 to 36.
3. Rotating
If the time share has many owners, the weeks that are often most demanded such as week 26 which normally includes the Fourth of July holiday will be rotated among them.
4. Deeded and Right to Use
The use of timeshare in deeded contracts is often divided into weeks and are sold as if they were real property. Therefore, the owner can do whatever he chooses to with his week – he can use it, rent it out, give it to those who are requesting for it or make it an inheritance to his heirs. As for right to use, the person who buys the timeshare must use the property with what is stated on his contract.
5. Vacation Clubs
These are organizations owning units in various resorts in different locations. They are sold as deeded contracts, as well as right to use. Therefore, club members can make reservations at any time at the locations as long as it is available.
Therefore, if you are going to sell your timeshare, you must tell buyers all the information they need to know. Discuss it clearly with them.
You could also seek the help of Timeshare Resale Services. They have programs which will place advertisements in for you. They call these as “Ad-Listing.”
Being the seller, you need to have an exposure. That is exactly what those Timeshare Resale Services provide. With Ad-Listings, your timeshare is made available to the interest of other resale companies, rental companies and most importantly, potential buyers.
You could also opt that they hold an auction for your timeshare. Usually, Timeshare Resale Services conduct auctions each week, considering a lot of timeshare owners can not always use their week at that given point.
With Timeshare Resale Service’s advertising campaign, more people will be made aware of what you are selling. Their campaign covers newspapers, yellow pages, magazines, radio and even direct mail. Lately, the internet is also being used to announce the recent selling of timeshare.
Finally, you must be up on your toes whenever your timeshare is being evaluated. Like yourself, you must know how much your timeshare is worth. Some timeshare resale companies say that your timeshare is worth more than it really is and charge you way too high.
The key is selling your timeshare week for less than what the resort is selling. Mark it down around 20 to 50%.
Or if you’re up to it, you can just not sell it and donate it to charity. Thus it will reflect a write off on your tax return. If you want, you can also trade it in for another timeshare week at a different resort. You can actually trade what you have for something better.
Like what is mentioned earlier, timeshare is a business. And in a business, you always, always have to use your head.
by Nan Wood
Timeshare selling can be a lucrative business. Timeshare on a property like that of a condo, vacation resorts, yachts, houseboats or motor homes can be a financial exchange as well.
An owner who has time share can sell it to other interested buyers. One reason why one would want to resort to selling his timeshare is he might not be able to use it at that given time and it was already paid for by him. So as to not go through a fiscal loss, he’ll compensate for it by letting somebody else use it – and that someone will be paying him instead.
To avoid the illegal re-selling of timeshare, it is best that the parties involved comprehend fully well the terms of their transaction. First of all, one must know what kind of timeshare does the owner own.
Running it briefly, the different kinds of time shares are:
1. Fixed week ownership
The most basic timeshare unit. Example: Fourth of July Holiday is always in high demand. If you own this particular week at an often-visited resort, you can use it every year to your advantage.
2. Floating
Ownership is the number of weeks. Example: Weeks 22 to 36.
3. Rotating
If the time share has many owners, the weeks that are often most demanded such as week 26 which normally includes the Fourth of July holiday will be rotated among them.
4. Deeded and Right to Use
The use of timeshare in deeded contracts is often divided into weeks and are sold as if they were real property. Therefore, the owner can do whatever he chooses to with his week – he can use it, rent it out, give it to those who are requesting for it or make it an inheritance to his heirs. As for right to use, the person who buys the timeshare must use the property with what is stated on his contract.
5. Vacation Clubs
These are organizations owning units in various resorts in different locations. They are sold as deeded contracts, as well as right to use. Therefore, club members can make reservations at any time at the locations as long as it is available.
Therefore, if you are going to sell your timeshare, you must tell buyers all the information they need to know. Discuss it clearly with them.
You could also seek the help of Timeshare Resale Services. They have programs which will place advertisements in for you. They call these as “Ad-Listing.”
Being the seller, you need to have an exposure. That is exactly what those Timeshare Resale Services provide. With Ad-Listings, your timeshare is made available to the interest of other resale companies, rental companies and most importantly, potential buyers.
You could also opt that they hold an auction for your timeshare. Usually, Timeshare Resale Services conduct auctions each week, considering a lot of timeshare owners can not always use their week at that given point.
With Timeshare Resale Service’s advertising campaign, more people will be made aware of what you are selling. Their campaign covers newspapers, yellow pages, magazines, radio and even direct mail. Lately, the internet is also being used to announce the recent selling of timeshare.
Finally, you must be up on your toes whenever your timeshare is being evaluated. Like yourself, you must know how much your timeshare is worth. Some timeshare resale companies say that your timeshare is worth more than it really is and charge you way too high.
The key is selling your timeshare week for less than what the resort is selling. Mark it down around 20 to 50%.
Or if you’re up to it, you can just not sell it and donate it to charity. Thus it will reflect a write off on your tax return. If you want, you can also trade it in for another timeshare week at a different resort. You can actually trade what you have for something better.
Like what is mentioned earlier, timeshare is a business. And in a business, you always, always have to use your head.
posted by Nan at 12:22 PM
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