Common Complications That Can Hold Up Timeshare Selling
If you thought owning a timeshare was a headache, welcome to the world of timeshare selling! These properties are notoriously difficult and costly to get rid of, lending even more to the money trap reputation they have garnered over the last several years. But why is it so hard to sell a timeshare? There are a variety of road blocks and complications that arise when trying to get rid of one of these properties, and knowing what they are can help you avoid them and know how to handle them when they arise (because they most certainly will at some point).
We have covered some of these in the past in order to help you sell your timeshare quickly and hopefully avoid these issues, but sometimes everyone needs a little bit of a refresher.
Uncooperative Developers
When you choose to sell your timeshare you have to notify your developer. You may own the time, but they own the actual property and there are some things you need from them in order to attempt to sell. Unfortunately, developers are notorious for blowing off owners who want to get rid of their properties and often make it as difficult as possible for you to sell their timeshare.
Uninterested Buyers
It is a simple fact that there are far more timeshares for sale than there are people interested in buying them, and the people who are trying to buy on the timeshare resale market want to buy a timeshare for as cheap as possible. Finding a buyer who is interested may be a challenge, especially if you are asking too much for your property or it is not located in a highly desirable location.
Delayed Communication
It is unfortunate that even if you find a buyer for your timeshare the rest of your sale depends on other people. Difficult developers and busy title transfer companies, as well as miscommunication, can all delay your timeshare selling.
Timeshare Resale Scams
Not everyone wants to sell their timeshare on their own, and in fact many owners end up turning to the professionals to get their timeshare sold quickly and with little hassle. However, timeshare resale scams are some of the most common and potentially damaging consumer scams out there. Thousands of people get sucked into these scams each year, and if you become one of them it not only can complicate the sale of your timeshare but also cost you a lot of money!
These are just a few of the main snags that people get caught up with during timeshare selling. They are often unavoidable, as many of them are out of your control, but using trusted and reputable resources, experienced professionals, and arming yourself with the necessary knowledge and tools can help you sell your timeshare quickly and with as little hassle to you as possible.
Why Timeshare Selling Has Become Such an Issue
It seems now more than ever that people have made a rush into timeshare selling. For a variety of reasons more and more people are unable to keep their timeshares and are flooding the resale market with property listings trying to get rid of their timeshares. But why are people in such a rush to unload these properties and what problems is it causing for owners and potential buyers?
Some of the reasons for the rush to sell timeshares include:
Financial Restraints
Timeshares are expensive, even though the often seem like great deals at the time. Interest on timeshare mortgages can be very high, and even if the property is paid for the maintenance fees and other costs of ownership can range into the thousands of dollars each year. It is no wonder, especially in these uncertain financial times, that this is the number one reason people find themselves needing to get rid of their timeshares.
Declined Use
When you first purchased your timeshare it may have seemed like a great idea. Who wouldn’t want to have a guaranteed place to stay at their favorite vacation destination forever? Unfortunately, many people find themselves either getting bored with their property or not using it as much as they thought they would, especially if they are not part of an exchange program and have to use the same unit at the same time every year with no flexibility.
Outgrown Unit
A common and unforeseen reason that people find themselves looking into timeshare selling is that they have outgrown the unit. They have either grown in size as a family and can no longer comfortably use the property or the destination no longer fits their lifestyle. Owning a timeshare near Disney is great when you have kids, but what happens when they grow up and no longer want to spend a week each summer at the “happiest place on Earth?”
Displeasure
Another common reason that people want to get rid of their timeshares is because they don’t like their unit or the resort. It is the sales representative’s job to make you think that your timeshare and resort are the greatest places even when you first purchase your timeshare, but as time goes on you may not be thrilled with its location, amenities, policies, or staff. Why would you want to spend money on a vacation property you aren’t 100% happy with?
Regardless of why people need to get rid of their timeshares, the amount of units trying to be sold on the secondary market is creating a variety of problems. Not only does this decrease the value of these properties even more than they already are, but it provides an opportunity for people to get taken advantage of. Timeshare resale scams are some of the most common consumer frauds and thousands of people get scammed out of millions of dollars each year. Even though people are aware of these scams, the sheer volume of these properties out there leaves ample opportunity to find an unsuspecting victim.
Taking the Right Approach to Timeshare Selling
Selling a timeshare has a lot of potential to become a huge pain for owners. Whether you are tackling timeshare selling on your own or you are thinking about hiring a timeshare resale company to help you out, a lot of the stress and trouble that come with this sales process has a lot to do with the approach you take to getting rid of your timeshare.
For the most part it seems that timeshares owners are concerned about one thing when they are selling their timeshare - how to get rid of it as quickly as possible. This is important because timeshares cost more the longer you have them and most people want to get rid of their timeshare before their next maintenance bill is due. However, if you take a single-goal approach you will often find yourself frustrated and disappointed.
There are no guarantees in timeshare selling, and anyone who tries to make you one should be avoided at all costs. Since no promises can be made about how long it will take to sell your timeshare and for how much, it is often in your best interest to have the goal of simply getting rid of it quickly and for as cheaply as possible.
Since it can often take months to sell a timeshare on your own, you may want to consider hiring a timeshare resale company. They can often sell your timeshare much more quickly than you could on your own and for less than what you average maintenance fees would cost, meaning this decision will often pay for itself within a year. However, it is essential to take precautions to protect yourself against timeshare resale scams and only work with reputable companies you have thoroughly researched.
Whether or not you want to try timeshare selling on your own or you are interested in possibly using a timeshare resale company, a great resource that offers a free consultation is TimeshareSecrets.com. These timeshare resale specialists will personally review your request and recommend the best approach to take to sell your timeshare as quickly as possible, as well as pointing you in the direction of reputable professionals who can help you with all your timeshare resale needs without paying upfront fees.
Timeshare Selling Made Easy
When people first buy a timeshare they assume it will be a fun and convenient way for their families to enjoy a favorite vacation location. This can certainly be true, but what many timeshare owners don't realize is that these properties are often a huge hassle and can become extremely expensive. They are more times than not a burden more than a blessing, which is why so many owners start looking into timeshare selling at some point to relieve the stress these properties leave not only on their minds, but their wallet as well. Unfortunately, timeshare selling can also be a very complicated process and cause even more stress without the right information.
Thankfully, there are a few ways that you can simplify this process and make timeshare selling much easier for you. Some ways that you can make the sale of your timeshare go as smoothly as possible includes:
Simplifying Your Priorities
Take a step back and really think about what your goals are when you sell your timeshare. Do you want to try to make some money on the sale, can you no longer afford to keep your timeshare, or do you simply have no use for the property anymore and want it gone? Depending on what you are looking to get out of your timeshare sale will dictate how long it will take and how much effort you will have to put into the sale. But having simple priorities, like getting rid of your timeshare as fast as possible, will open up a variety of options for you when it comes to how you can sell your timeshare.
Have Realistic Expectations
If one of your goals is to make money on your timeshare or to sell it in a very short time frame, you may need to reevaluate your goals and lower your expectations. Timeshares aren’t worth very much on the resale market, so the hope of making any money on timeshare selling should be at the bottom of your list. Also don’t expect to sell the property very quickly. Just focus on getting it gone.
Go Slow
While the ultimate goal should be to get rid of your timeshare as fast as you can, you should also take your time. Rushing through the timeshare sales process will leave you susceptible to making costly mistakes like falling victim to a timeshare resale scam. Go slow and make sure you cover all your bases and do thorough research.
Ask for Help
Timeshare selling can be extremely confusing and complicated if you don’t have a lot of experience in the industry, so if you get stuck don’t be afraid to ask for help. Timeshare resale specialists can help you figure out what your options are and what the best approach to take is, and some companies even offer these consultations free of charge.
These are just a few of the ways that you can make timeshare selling as easy as possible. By having simple goals, realistic expectations, taking your time and not being afraid to have other options you can not only successfully sell your timeshare, but do so fast, safe, and with as little hassle to you as possible.
Common Timeshare Selling Mistakes People Make
Timeshare selling can be one of the most confusing, complicated, and frustrating things that you will ever have to do. You wouldn’t think that it would difficult to do. After all, who wouldn't want a buy a vacation property for pennies on the dollar? Unfortunately, assuming that it will be a simple task and that there will be people out there chomping at the bit to purchase our property are just two of the many mistakes that people commonly make when trying to get rid of their timeshare.
Selling a timeshare is difficult enough without running into these snags, so knowing what to look out for and how to avoid them can not only save you a great amount of time and hassle, but money as well. Some of the most common timeshare selling mistakes that people make include:
Poor Planning
The biggest shock to people who are trying to sell their timeshare for the first time is how much really goes into this process, especially if you are trying to do so on your own. You have to communicate with your developer or resort, find a buyer, transfer the title, and a variety of other time consuming and stressful things.
Self-Estimated Value
Many timeshare owners wrongfully assume that their property was an investment. It is legally considered to be a piece of real estate, so why wouldn't this be the case? Unfortunately, in terms of value timeshares behave much more like cars than real estate with their value dropping significantly as soon as you sign the deed. It is worth even less on the resale market (also known as the secondary fair market value) and is only worth a fraction of what you paid for it, if it is worth anything at all. Asking too much for your timeshare can often make it nearly impossible to get rid of, no matter how much you think your timeshare is worth.
Flying Solo
People are weary of using timeshare resale companies, and rightfully so. Timeshare resale scams are some of the most common and potentially devastating consumer scams out there and were ranked in the number 4 spot on the Better Business Bureau’s list of top business frauds. However, not all companies are out there to rip you off and can help you sell your timeshare quickly and with very little hassle to you.
Not Doing Your Homework
If you do decide to enlist the help of a timeshare resale company, it is important to do your research on these companies to ensure that you don’t fall victim to a timeshare resale scam. Letting your guard down and trusting every company that offers you help can be a devastating and costly mistake. Never pay upfront fees for any service and check references of companies you are consider working with.
No Follow-Up
Whether you are currently working with a timeshare resale company, have contacted someone about selling your timeshare, or have been working with buyers who may want to purchase your timeshare, it is important that you follow up on a regular basis. Staying in contact lets people know you are serious about wanting to sell your timeshare fast and also help alert you to complications or potential fraudulent activity.
Avoiding these common missteps can make timeshare selling easier, faster, and safer. Your timeshare is already hassle enough, so why spend unnecessary time and money trying to get rid of it? Use trusted resources and recommended professionals when getting rid of your timeshare and you can be free of these burdensome properties once and for all!
Top Five Things That Can Delay Timeshare Selling
Timeshares are supposed to be affordable ways for people to take annual vacations to locations they love, but they end up being more of a burden than a blessing as they often end up costing more than anticipated and can be difficult to use. This leads people to consider timeshare selling, but many people who are trying to sell their timeshares often assume that the process will be quick and easy. After all, how difficult can it be to get rid of a vacation property, especially if it is located in a desirable location? There are a variety of things that can hold up the timeshare selling process and make getting rid of your timeshare feel like a never ending nightmare.
Some of the most common factors that can delay and complicate selling your timeshare include:
Inexperience
Since many people choose to attempt to sell their timeshares on their own inexperience can play a huge role in why it may take so long to sell a timeshare. The timeshare secondary market can be extremely complicated and frustrating. You must find out the fair market value of your property, list it, find interested buyers, talk to your developer, transfer the title, draft paperwork, and pay all necessary fees. Along the way there are many different ways that you can get caught up and make timely (and costly) mistakes that can add weeks, even months to the time it takes you to successfully sell your timeshare.
Uncooperative Developers
Successful timeshare selling weighs a lot on the cooperation of your developer. You have to let them know you are trying to sell your property, have them send you any necessary paperwork, agree to the transfer of your title, and then wait for notice that you no longer have possession of your property. Timeshare developers are notorious for holding up this process and making it as difficult as possible for people to get rid of their timeshares.
Title Transfers
One of the most important parts of selling your timeshare is the transfer of the title. This allows you to give your timeshare to someone else and they will then have full legal responsibility of the property. This is particularly important, because until the title is completely transferred you still own the timeshare and are responsible for any money owed on the property. Title transfers can take a long time since they are often handled by companies that get bogged down with other requests.
Legal Complications
Timeshares are legally considered to be pieces of real estate, so the timeshare selling process is very similar to any other piece of property. If you were trying to sell your house you would more than likely have a real estate broker there to help you navigate the endless rivers of negotiation, listing, purchasing, and any other things that may pop up. Real estate brokers can also help you sell your timeshare, and can significantly simplify and speed up the process since they have industry knowledge, yet many people still choose to go it on their own and get bogged down in the system.
Timeshare Resale Scams
Timeshare owners are very wary of bringing in outsider help, and they should be. Timeshare resale scams were ranked by the Better Business Bureau as the 4th most common consumer scam for last year. These business frauds can potentially scam you out of thousands and can sometimes be difficult to spot until it is too late. If you find yourself a victim of a timeshare resale scam, you not only are out any money you gave to the company, but have also most likely wasted a significant amount of time with zero progress.
Even though these scams are extremely prevalent and people are rightfully cautious when looking for professional assistance with their timeshare selling, it is the easiest and fastest way to get rid of your timeshare. Take the time to learn about timeshare resale scams and how they can potentially harm you and your family. Doing so will provide you with the greatest weapon in your timeshare resale arsenal = knowledge. Using trusted resources and taking the time to find a reputable company to help you can shave months of your timeshare resale process and have you free of your timeshare burden in no time!
Timeshare Selling: How to Get Rid of Your Timeshare Fast
The number one thing to keep in mind when embarking into timeshare selling is time. Time is money, and this is especially true of owning a timeshare. The long you have a timeshare the more it will cost you and the less it is worth, so being able to get rid of your property quickly is essential to a successful timeshare sale. But what are the fastest ways to get rid of your timeshare? In order to help you out, we will go over the most common ways that people choose to sell their timeshares and which ones will work best for you!
When first starting out, many people often choose to attempt to sell their timeshare on their own. They believe that not only will this allow them to be in control of their sale, but that it will speed up the process and allow them to get top dollar for their property by avoiding middlemen. This may be true for some pieces of property, but it is certainly not the case for timeshare selling. Timeshares are worth a fraction of what you paid for them, if they are worth anything at all. While it is true that some people were able to get a respectable amount for their property (though still far less than what they paid), many more have been forced to sell their timeshare for as little as $1 on some auction sites and still had to pay out of pocket for other sales fees. This process is also extremely complicated and can take months of arguing with your resort, finding buyers, and navigating legal issues before they come anywhere close to being rid of their timeshare properties.
Another common way that people approach getting rid of their timeshares is to simply give it away. This could mean giving it to a friend or family member, donating the property to charity, or attempting to give the timeshare back to the developer. Much like trying to sell a timeshare on your own, this approach has worked for some people but proven timely and expensive for many others. Anyone who knows anything about timeshare ownership will most likely turn down your offer for a free unit (because there is no such thing!) and chances are your family and friends are aware of the hardships you have faced with yours. Some charities do accept timeshare donations, but finding these can be harder than finding an individual to take your timeshare and many timeshares don’t even qualify to be donated. Harder still is convincing your development to take back your timeshare. Some will (for a hefty fee of course), but they don’t make it easy or affordable, and you will still be hounded by timeshare sales reps for the rest of your life.
Because of the challenges these options present, many timeshare owners eventually turn to the professionals for their timeshare selling needs. Timeshare resale companies can help you get rid of your timeshare quickly and with almost no hassle to you. While it is true that you are essentially paying someone to sell your timeshare for you, it is often comparable in price to what you would pay in listing and title fees on your own or what you would pay your developer to take your property back, not to mention you generally don’t have to do anything when working with these professionals.
However, timeshare resale scams are a real threat to people trying to get rid of their timeshares. These frauds are some of the most common out there and without the right knowledge and doing the right research can be almost impossible to spot. If you have decided to work with a timeshare resale company, it is important that you double (even triple!) check their references, only use trusted resources, and never pay upfront fees for any of their services. This will allow you to weed out the frauds and find professionals that can help you get rid of your timeshare now, with zero hassle to you, and shave months of your timeshare selling time.
Don’t spend another day paying for a timeshare you no longer want or can’t afford to keep. You can sell your timeshare now and be rid of it once and for all with the right help and knowledge!