By: Bishop Chanakira
Submitted: 2010-01-24 21:48:56 | Word Count: 792
Buying timeshare for your vacations is an excellent idea because you only pay for the time you use. But what happens when you decide to sell?
You have been enjoying your timeshare for some time now but you now feel that it is time to sell; right? You may not have the time to holiday, you might have moved or you just need the money for something else. So how do you go about selling? Let's explore the answers to this question...
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What is Your Timeshare Worth?
The first step is to figure out how much to ask. There is a market out there for your timeshare and you need to figure out what price range you can expect will be attractive to prospective buyers. The place to find this information is, of course, the market. Makes sense but where can you go?
Before we answer your question, let's first prepare you for a reality. You are most likely going to find that your timeshare is only worth less than you paid for it. I hate to be the bearer of bad tidings but it is a reality and you will just have to accept it. With that out of the way, let's get back to the question.
The first place to start is with the resort that you own timeshare in. Try calling them and ask if others have sold recently. How long did they take to sell? What price did they get? Who coordinated the sales process? This will give you a good starting point.
You could also use Google to help find the answer. Simply enter the name of your resort followed by a plus and then the word 'timeshare'. You could also add a location. Here's an example: Marriott's Legends Edge at Bay Point + Florida.
Another approach is to find a broker to do all the work for you. There are many specialists who will source an accurate estimate for you. Again, you can find many of these on the internet. Many of these brokers will conduct a free market appraisal for you with no obligation. For many this may be a good starting point. I would recommend that you still conduct your own research, even if only brief, to compare with your free appraisal from the broker. That way you will have confidence in the subsequent decisions you make. There is a link to a popular blog immediately below this article that contains options that you might consider.
One alternative to selling is to swap your timeshare. This is a great option if you are looking for something new and different. There may be other owners in the market who are also looking to swap. There are companies who have been working to find ways to make this easy, especially when there is an inevitable difference in values. Some allow you to bank points for not using your timeshare in some years which can then be used to offset pricing differences. I must confess to knowing little about this but you can get that information from timeshare trading companies.
In summary, selling timeshare can be challenging for some people but it really doesn't have to be. You can elect to do the work yourself using some of the tips provided above or you can find one of the many excellent companies out there who will do all the work for you. Many offer free appraisals, so why not do both? Compare a free appraisal with your own research and see what options open up for you
