The Right Way to Sell Your Timeshare Online Fast

There are many people that ask for tips on how to sell a timeshare. This is especially true right now because people are worried about the economy and/or they just can't make the numbers work right now. In addition, many of the people who bought timeshares had great intentions for using their timeshares, but somehow find little time to use them anymore. This could be due to family changes, job losses or just other priorities.

Selling a timeshare requires some pre-thought in order to maximize your selling price. However, it's important to note that while you may want or need to sell a timeshare, you are likely not the only one trying to sell. The developers of the timeshare are often still trying to sell units, as well as other timeshare owners within the same complex.

Let's take a moment to consider the market for timeshare properties. Developers of these types of communities are very smart business people. Essentially they build a big complex of units with beautiful amenities: pool, grocery store, community areas, etc. Each unit is built pretty much the same. Of course, there may be some with 1 bedroom, 2 bedrooms, etc, but the all share a common infrastructure of water pipes, toilets, etc. The key point, though, is that the developer sells a time slot for each unit, 100x or more per year.

What does this mean for selling a timeshare? The developer him/her self can reduce the price significantly, perhaps even down to 1/2 what you purchased the unit for. So, in essence, you are competing with the developer for reselling your slice of a timeshare also.

Your best bet in selling a timeshare then is to really understand the market for your complex, your unit and your available dates. For example, make sure you know how many other units are up for sale in your complex, what are they pricing theirs for and how much the developer might also be discounting their units for.

Then, look at the amenities that your timeshare contract includes. Can you exchange your timeshare for time in other places around the world? Can you bank your time for use in another time period? How desirable is your location? Just like in any other real estate purchase: location, location, location is everything.

Don't forget to also look at the exchange contract. Where are the locations that you can exchange your time for? Are they in desirable locations? Are the units / complexes that they offer also of the same quality as yours? How much would it actually cost to rent a similar unit? Do a cost / benefit analysis to see if you are in the right ball park.

At this time of record low interest rates, it might very well be a good time to sell a timeshare and take your money to use as a down payment for a single family home. For that matter, it's not a bad idea to use the money on something that you'll use more productively. Timeshares are a cool idea, but if not used as intended, they're not worth the price... especially the annual maintenance fees.