How To Sell Timeshares Quickly
Timeshare properties are unique in that multiple owners can take advantage of the residential or commercial location throughout the year. Because of the uniqueness of timeshares different considerations need to be evaluated when looking to sell a timeshare quickly. Just like any other aspect of the real estate market, where the timeshare is located, how much the asking price is, the size of the timeshare and where it is in relation to a resort are all factors which can determine how quickly it sells.
One interesting aspect about timeshares is that they don't substantially appreciate or depreciate in value relative to the housing market. This is primarily because owners of timeshares can come and go quickly and the property isn't meant for raising families but for limited stays and ready access to a resort or other entertainment venue. It's recommended to determine the price of your timeshare by evaluating other timeshares in the area of comparable size and quality. As with selling a home your timeshare will be worth more or less when compared to the competition.
Due to the nature of timeshares which is for recreational use the best time to sell is during the height of the tourist season. Not only is this when timeshare companies look to make sales for perspective timeshare buyers but also friends and family on vacation will use a timeshare hoping to get an idea of what the location maybe like. The opposite holds true however in that trying to sell a timeshare off-season can lead a to significant reduction in the sale price of as much as 50% due to the lack of demand. The timeshare may be owned by multiple parties and used at different times of the year so it's possible that if you're allocation is off-season you may never be able to get the price you paid.
The same pitfalls that affect sellers of residential or family homes also affect those who own timeshare property. One of these factors is pricing too high for current market conditions. It would be nice to make a profit but since timeshares don't appreciate like houses sometimes the best outcome may be to break even. There are certain areas around the country which are considered tourist friendly so there are often multiple timeshares which create increased competition and drive down prices. With this in mind pricing a timeshare appropriately will determine how quickly it sells.
Just like more traditional real estate agents which deal in residential homes and commercial property there are also certain agents who deal with timeshares specifically. If you absolutely must unburden yourself of a timeshare by the quickest means possible you may need to enlist the efforts of this type of realtor. Make sure they are familiar with the area and the competition and have a history of selling this type of property before signing up with any company. The quality and experience of the realtor involved are just as important as the property being sold.
It can't be stressed enough how important it is to market a timeshare effectively in order to sell it quickly. Getting the word out is another important aspect because it will determine how much traffic and interest you get and how quickly it sells. The amount of effort applied to marketing has a direct relationship to the amount of interest received. Since timeshares are normally related to vacations it may be best to focus a significant amount of time and money on marketing online. Unlike a home where roots are planted and kids are raised, timeshares may be only used for a few weeks out of the year and draw tourists from around the country. This flexibility of location can work to your benefit so think nationally instead of locally when focusing your marketing efforts.
As normally required by law there are additional disclosures required when selling a timeshare. Make sure if you're selling it yourself that you are fully versed in the requirements of full disclosure such as appropriate fees or ongoing maintenance. If going with a realtor specializing in selling timeshares they should already be well acquainted with the required disclosures and may facilitate a faster transaction by making sure the prospective buyer is fully aware of what's involved in owning a timeshare.
Selling a timeshare quickly can often seem like a difficult process even more so than selling a family home. If kept in the correct perspective of who the target market is and pricing it to move then the process can become smoother for all parties involved. Thoroughly understanding the market to set appropriate pricing and focusing on a timeshares strong points when dealing with prospective buyers all determine on how quickly you sell a timeshare.
