Many people who are looking to sell timeshare vacation properties are not sure where to start. While many timeshare resale companies will offer everything from guaranteed sales to a guaranteed sell date, the truth is that nobody can guarantee when your timeshare unit will sell. In addition, many of these companies will hit you with upfront costs and do not come through on their guaranteed date of sale. As a result, it is often most cost effective to sell your timeshare independently. Below are a few tips on how to sell timeshare vacation property.
Step 1: Correct Pricing
The first step to selling your timeshare unit is to get it priced and appraised. While the timeshare price of your unit is often difficult to gauge, it is not essential that you hire a professional appraiser. Many appraisers and resellers will ask for upfront fees and never actually help you sell your unit. As a result, independent pricing is often the way to go. Start by looking around your timeshare rental development for other units that are on the market. Try and find rentals that are available during the same weeks as your timeshare unit. This will give you a general idea of the prices that your timeshare is selling at. Another way to find a price is to list your unit online. Do not specify a price and allow potential buyers to make offers. From here, you can see what range you can list your timeshare for.
Step 2: Aggressive Advertising
Once you have successfully priced and listed your timeshare unit, it is important to be aggressive with respect to timeshare advertising. While some timeshare advertising costs money, it is often possible to list your timeshare unit for free online. Many timeshare websites allow you to sell timeshare vacation properties for free on their sites. Other places that are good to advertise are timeshare development newsletters and your vacation rental complex. Aggressive advertising is the best way to sell your timeshare unit quickly.
Step 3: Targeting Potential Buyers
Once you have received a few inquiries with respect to your property, it is important that you have all of the property information readily available for potential buyers. Make sure that all outstanding loans are paid in full on your property before you attempt to sell it. Potential buyers will never pick up a unit that has outstanding loans on it. During the negotiation process, it is important to allow potential buyers to visit the rental, or to send them extremely detailed and photos. Making the buyer visualize the beauty of your timeshare rental will help you get it sold quicker.
Step 4: Closing the Deal
Once you have found a buyer, it is important to close the deal with the help of a lawyer. A contract should always be written up specifying the exact weeks that the rental is being sold for and that you are no longer responsible for the property. Make sure that there is a deed signing over all of the property and taxes that go along with it to the new owner. Once you have found a buyer, this is the best time to contact lawyers and to make sure that this deal gets done legally and correctly.