Timeshare is both misunderstood and controversial. While the basic idea of timeshare is very good, the pushy hard selling of timeshare marketers has not only ruined the reputation of timeshare, but has also caused many unwilling buyers to part with their money for something they don’t need. Eventually, these people have to find ways to sell their timeshare ownership.

These timeshare companies often promise all kinds of help to get the resort you want and promise to secure the best airfares but often over-promise and undeliver. Unable to get the resorts they prefer and frustrated with the lack of help and support, many genuine customers also begin to look for buyers for their timeshare.

As if being harassed to buy the timeshare in the first place is not enough, scammers prey on them again when they need to sell. There are many scams in the market and you should learn to avoid them when you are selling.

Should You Sell Your Timeshare?

You should ask yourself the following questions as you are deciding whether to sell your timeshare.

1. Do you love to travel?

2. You like or don’t mind staying for a week in one location?

3. Do you like a leisurely holiday?

4. You enjoy being familiar with the place?

5. Do you like the feeling of having the resort staff recognising you and addressing you by name when you arrive?

6. Would you like to have the facilities of serviced apartments?

7. You like the flexibility of being able to exchange to over 3000 resorts and condominiums worldwide?

If your answers are yes to most of the questions above, it looks like you will be able to enjoy your timeshare ownership very much. You might want to reconsider selling it and look for someone who can help you benefit from your ownership instead.

Before You Sell Your Timeshare

There are a few important things to note before you sell your timeshare.

1. The process of selling timeshare is not unlike selling a property and can often drag for very long. If you are in a big hurry, you would be better off looking elsewhere. Even if you can find a buyer at short notice, you would most likely need to sell at rock-bottom prices.

2. Remember that buying a timeshare ownership is for leisure and not for investment as you will almost definitely lose money by selling your timeshare. Resale values can range from 20% to 50% of the price you bought for most units, and up to 85% for the very good ones. If you factor in the legal, administrative and marketing fees and commissions, the loss will be even greater.

3. Learn to avoid the scammers. My main advice is to avoid telemarketers who call you saying they can sell your timeshare for you. There may be genuine brokers but so far all the calls I’ve received turned out to be scams so it would be wiser to simply avoid them.

4. There are many resellers and brokers around. Take a look and compare them first before committing to any one of them. Very importantly, do not give anyone any deposits to help you sell your timeshare. The commissions and other costs of these brokers and resellers also vary so be sure to compare them first.

5. Forget about appraisals or valuations. Some brokers make you go through them to squeeze more money out of you. As far as I can see, the resale value of timeshare units do not vary very much, unless you go to some con sites which take advantage of people who have little knowledge of the market. You can find out the approximate resale value of your unit by doing a simple search online.