Thursday, September 02, 2010

5 Tips to Sell Your Timeshare

Ready to sell your timeshare? There are some things to consider before you get started. Here are 5 tips to make sure you are including all the details needed for a successful timeshare resale:
  1. Get Your Papers in Order
    You’ll need to pull out your ownership papers to determine what you actually own so you can inform the buyer. Is the property deeded, right-to-use, or a club property?

  2. Legal Limitations
    With your papers out, read them to determine if you have any legal limits? Are you legally required to give the original seller (or anyone else) the first right of refusal when selling your timeshare? It is always best to contact your resort directly and ask questions before you try and resell the property.

  3. Resort Costs
    Does your resort charge a transfer fee when you transfer ownership, or, do they charge a commission when you sell the unit, (even if they are not involved in the sale?) Read your documents and call the resort if you are unsure.

  4. Resort Restrictions for the New Owner
    Find out if your resort will impose any restrictions on the new owner. For example, with Marriott Vacation Club International, the resale buyer cannot participate in the Marriott Rewards program. You’ll need to know these details and understand them make the buyer aware of what they are getting, or not getting with your unit. The terms of use for a timeshare resale can differ from a retail purchase directly from the resort itself.

  5. Post your Timeshare Resale on RedWeek.com
    When adding your timeshare resale posting to RedWeek.com, be sure to include as much detail as possible about what is included in the sale, based on the questions above: the type of ownership are you offering, resort costs (which may change your offering price), any restrictions to the buyer, etc. Also, take the time to review our timeshare posting dos and don'ts and include your own photos of the resort with your posting.
By following the 5 steps above, and reading additional timeshare resale resources on RedWeek.com, should have all the information you need for a successful timeshare resale.

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