9.9 million American households now own at least 1 timeshare. While a timeshare may serve you well for a while, reselling it may be necessary at some point.
Whether you don’t have the time to use your timeshare often enough or you’re tired of high fees and restrictions, selling a timeshare is an option. However, there are some common pitfalls that sellers face when selling timeshares, so you need to take the right approach.
Here are 5 common timeshare seller errors and how to avoid them.
Failing to Check With Your Home Resort
One of the mistakes that timeshare sellers make is that they don’t communicate with their home resort once they decide to sell.
In many cases, the resort will be willing to buy back the timeshare or will have ways to help advertise your listing and find potential timeshare buyers. Selling your timeshare could be a fairly simple process when going through your home resort, so be sure to talk to them before working with a third party.
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Selling for the Wrong Price
Choosing the wrong price for a timeshare is also a mistake when selling. Many owners of timeshares price their timeshares too high, and as a result, it takes a long time for them to sell.
You’ll need to price your timeshare reasonably if you want it to sell in a short time frame. Be sure to check out the price of similar timeshares before selling and then price yours accordingly.
Not Perfecting the Timeshare Listing
If you want your timeshare to sell quickly, you should be sure to perfect the listing as much as you can. Clearly list all of the perks of owning the timeshare and highlight all of its best features.
Failing to put effort into the listing may lead to you holding on to the timeshare longer than you’d like to.
Not Understanding Your Contract
Before selling a timeshare, make sure that you fully understand the contract that you have. Timeshare rights and paperwork can be complicated, so you need to understand exactly what you’re able to do when selling.
Understanding whether you have a deed or a right to use is important to know when selling. You should also understand other important details that are in your timeshare paperwork as well.
Failing to Research Resale Companies
A final mistake that you should avoid when selling timeshares is listing them for sale with the wrong company. There are many timeshare reseller companies out there, and not all of them are trustworthy and reliable.
Be sure to do your research on a resale company’s reputation before listing timeshares for sale. Look for online reviews and check the Better Business Bureau (BBB) website to find out more about them and verify that they’re legitimate.
Avoiding These Common Timeshare Seller Errors
Although it’s possible to sell your timeshare quickly and for a good price, you’ll need to avoid these common timeshare seller errors to do so. Check with your home resort, choose the right price, and perfect your listing if you want to make the timeshare selling process as easy as possible.
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