For owners looking to get rid of their timeshare, the option of selling their timeshare is usually their first choice. However, it rarely works out to their advantage. Selling your timeshare is often timely and costly. The unsuspecting seller who just wants to get rid of their timeshare faces a minefield of broker and listing company scams, a glut of supply, and expensive marketing costs. Navigating this type of sales-environment is challenging and owners often become frustrated, or worse, out thousands of dollars from a timeshare scam.
There are a number of timeshare scams associated with listing your timeshare. Brokers will call and tell you they have someone willing to pay top dollar for your timeshare – all you have to do is pay them an upfront fee. As soon as they have your money you won’t hear from them again. Other listing companies will charge hundreds of dollars for you to list your timeshare on their site. In this situation it is actually to the listing site’s advantage not to sell your timeshare because the longer your timeshare is listed, the more money they make. Some upfront fees may be required to cover administration costs, but you should never pay a timeshare listing service more than $100 per site.
The economic downturn has everyone cutting back on expenses and working longer hours to make ends meet. This means fewer vacations and more timeshares sitting vacant. As you know even when you don’t use your timeshare, you still pay maintenance fees and special assessments. Rising fees and trying times mean more and more owners want relief from their timeshare. Now there is a flood of timeshare weeks hitting the market, driving prices down drastically. Only the very best weeks are selling, and when they do, it is only for a fraction of the original price.
The prospective seller also needs to remember how they were originally convinced to purchase their timeshare. The resort paid for them to stay in a nice unit so they could experience the amenities first hand. Then they paid an experienced sales person to sit with them face to face, often times for hours to convince them buying a timeshare was the right thing to do. The average seller in the timeshare resale market will be armed with nothing more than some stock photos and a generic description on a website. Even if you own a desirable week, expect your unit to be on the market for months while listing and maintenance fees continue to pile up.
Most of the time, trying to sell a timeshare yourself amounts to nothing more than wasted time and money. By educating yourself about timeshare resales you can avoid the scams, but you will still have to invest marketing costs and hours of time following up on leads. The question is, with increasing maintenance fees and the chance of a special assessment, will you have the week deeded out of your name before the fees eat up any revenue created by selling? You can avoid this risk by contacting Donate for a Cause. We will take care of the listing, negotiating, and ownership transfer all on a commission basis. We guarantee our program, or your money back. Submit your information now or call 1-877-822-2873 to speak with a donation specialist about our program.