Selling a timeshare relieves the owner of a fiscal burden. Timeshares, also known as vacation ownership, are a kind of shared ownership of a destination house, such as a condominium in a hotel area. Each timeshare owner has the right to use the house for the quantity of time purchased, typically one week per year. All owners are responsible for a setup maintenance fee annually after the first purchase, even if the timeshare is not used.
Ascertain what your timeshare is worth. Value that the quantity of time you are entitled to use the property. Find out more about the amount other timeshares in precisely the same area are selling for, and divide the total per week. Request the hotel for current sales information that will help you determine a reasonable figure.
Advertise the timeshare. Post fliers and bulletins in the hotel buildings. Contain all perks about the timeshare, and use vibrant colours to make the advertisement eye-catching. Ask other people in the timeshare about successful methods used for selling period in the area. Put an ad in the local newspaper about the timeshare to increase your reach. You could have the ability to hire a resale broker in your hotel to advertise for you.
Respond quickly to prospective buyers. Timely responses to emails and telephone calls from interested buyers are able to help you market your timeshare faster. Consider counteroffers from serious buyers when the price is acceptable for you, as timeshares generally lose value over time, based on real estate advisor Steve McLinden of Bankrate.com.
Give accurate information regarding the timeshare. The advertisements and your communications with potential buyers will need to include correct info. Inaccurate information can destroy a bargain or lead to legal action against you after the purchase. State all maintenance charges needed for the timeshare in full, and define if your time is fixed or floating.
Think about donating your timeshare. Timeshares could be donated to charity organizations, and you may write off the cost on your tax returns for this year, based on Sarah Max, a reporter for CNN Money. Think about the donation choice if you think the timeshare is too difficult to market due to a decrease in value or other issues, as the tax deduction will make it possible for you to recoup some of this reduction.