Figuring out how to get rid of a timeshare is no easy feat. In some cases, you have to do a ton of research, work hard to promote your timeshare, and find the right people. Even then it might be somewhat difficult to get a good price out of it.
Of course, you don’t necessarily have to sell your timeshare. But what are the alternatives? Are there really other simple ways to get rid of your timeshare without having to go through a long and cumbersome process that you’d rather avoid in most cases. Read on to find out.
A Few Alternatives You Might Consider
Now, the following solutions might not be ideal, but when you’re considering how to sell timeshare properties, they also have to be mentioned as alternatives. In some cases, getting rid of your timeshare doesn’t necessarily mean you want to sell it.
One option you can consider is to hire an attorney or work together with an exit company to get out of your timeshare plan. If your timeshare company is charging you in excess of $2,000 to take the property off your hands through a contract buyout, you might want to consider these options. However, the hassle is sometimes not worth it, especially if you have other alternatives at your disposal as well.
Another option would be to actually give the timeshare away to someone. If you’re in a hurry, you want to leave town, or you simply don’t care about the amounts of money that you’d be leaving behind, you can donate the timeshare to charity or to a friend or family member of your choosing. The process isn’t too complicated, but you will be losing some money, should you opt for it.
Selling Your Timeshare
As the owner of a timeshare, you might eventually reach the conclusion that selling your property is the best solution you have at your disposal. If so, then prepare to do some extensive work to find out exactly how to sell your timeshare as easily as possible and what the completion of the process entails.
The main thing you have to do to make sure you can sell your timeshare as quickly and easily as possible is to find out its realistic value. Now, there are a few important points to keep in mind here:
- Your timeshare isn’t like regular real estate, so it doesn’t have a predetermined, inherent resale value that you can draw upon.
- In the case of many different types of timeshares – especially for legacy timeshares – supply actually exceeds the available demand.
- Owners are usually urged by experts to seek professional assistance in managing and selling their timeshares.
That being said, you can find out a lot about determining the value of your timeshare by contacting members of the Licensed Timeshare Resale Brokers Association. You can ask for free estimates, and also use tools like the “What’s My Timeshare Worth” tool to get an additional assessment.
In the end, once you established the value and price of your timeshare, it’s time to list it on one of the numerous timeshare websites where it can get significant exposure. If you want to know how to get rid of a timeshare quickly, you’ll usually be guided to keep the price on the lower end; however, even so, most experts will tell you to be prepared to wait a few months before a seller might arrive.