One of the ways that people can do a timeshare exchange is to trade it for a parcel of land. This might sound a little far fetched, but there are many different companies that will take your timeshare exchange as either a down payment, or full payment on actual land you can build a home on. Here are some of the steps needed to trade a timeshare for land.
Tools and Materials Needed
- Internet Access
Step 1: Check Your Timeshare
Before you can think about trading your timeshare for any land, you must first determine if everything is paid on it. This means that your rental is paid, your maintenance fees are paid, taxes, and any other hidden costs. If these are not paid, then you will not be able to trade your timeshare.
Step 2: Locate Timeshare for Land Service
There are plenty of good timeshare for land companies in operation today. You will have to research them as you come across them to make sure that they are legitimate companies. This is easily done by searching for their name in Google or other online search engine. Once you have a timeshare for land company located, contact them about your particular timeshare.
Step 3: Equity Is Determined
Most of the land companies will determine the equity for you, but your timeshare network can also do that. This is important as it will tell you exactly how much your timeshare is worth. This is a combination of physical value, point value and even where the timeshare is located as well as the week, or weeks, you have it.
Step 4: Choose a Location
Many of the timeshare for land companies already have communities set up where you can trade a timeshare for a piece of their land. You will own the land, but it is not going to be in your own backyard. They may own one large community, or several across the country. After it is determined how much equity you have in your timeshare, you can pick a compatible location.
Step 5: Make Purchase
Once you have traded in your timeshare for the land, you may have to add some of your own money to complete the purchase. For example, if your Las Vegas timeshare is worth $10,000 and the land is being sold at $39,900 you will still have to pay for the extra $29,000. You can do this through financing, credit card or cash.
Step 6: Exchange Timeshare Ownership
If you are with a particular timeshare network you will need to contact them about who the new owners are. They will make the final transfer of ownership. Once you have traded the timeshare, you are no longer the owner of it. This is not an exchange where you vacation somewhere else and then go back the next year. This is a permanent trade for real land.
Step 7: Use Your Land
Once you have traded for the land and the sale is final, you can
then do whatever you like with it. You can build a new home, build a
vacation home, or resell the land for a profit.