How to sell your timeshare

Posted on August 29, 2016


Have You Been Paying For A Timshare You Aren’t Using?

You should consider the benefits of selling your timeshare.

You can get money back, as well as stop having to pay maintenance fees.

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Fortunately, you do have some options if you’ve signed a timeshare agreement and want to get out of it.Here’st you can do to get rid of a timeshare you no longer want:

Review your agreement.

You need to determine whether you have a deeded timeshare or a leased timeshare property. A deeded timeshare bounds you to the contract as an exclusive owner, while the leased timeshare means you are only the owner for a set number of years. If you have a deeded timeshare, you have the option to sell it to someone else. If you have a leased timeshare, you may have to keep paying your annual fees until the lease expires.

Consider renting it out.

If you know you aren’t going to be using your timeshare for a certain period of time, consider renting it out to somebody as a vacation rental for extended stays. In some cases, the rental fees you earn will be able to cover the annual maintenance fees you must pay on the timeshare. Just remember that, regardless of whether you use the timeshare or rent it to someone else, you’ll still be responsible for maintenance costs and other fees as outlined in your initial timeshare agreement.

Check in with the company that manages the property.

Some timeshare companies offer services for those who are interested in selling their timeshare, and they may even help to match you up with an interested party. They may charge a fee for this service – which will come out of the final sale price – but this could be an easier way to get that timeshare sold.

With some timeshares, your annual fees may have escalated to the point where you’re not getting much value each year from the timeshare, or you could simply pay to go to another resort and come out cheaper. If high annual fees are the issue, ask your timeshare property management company for permission to deed back your timeshare to the organization. With a “timeshare deedback,” you basically agree to give your timeshare back to the resort.

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