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How to Sell a Time Share

You may have acquired a time share as an impulse purchase and now want to get rid of it for a number of reasons. Perhaps, it's not what was promised by that smooth-talking salesman or maybe the novelty has worn off. Or possibly the maintenance fees and taxes are eating into your finances. Well, whatever the reason, if you want to sell your time share and do it as fast as possible be smart and stay wary of potential scams.

The first thing you need to do is keep it real as far as the price is concerned. The sad truth is that the supply for these units far outweighs the demand for them. So do the math and fix your resale price accordingly. On an average, you may expect to sell a time share for about 30% to 50% of the price that you originally paid for it. Over the top pricing will only lead to your unit remaining unsold for a long time and you shelling out more in terms of advertising costs, maintenance fees and taxes. You may be tempted to hold out in view of the inflated price you paid when you purchased it. Well, here's a reality check. Your options are kind of limited. You don't have the resources to hold the same kind of presentation and strong sales pitch that prompted you to purchase the unit from the developer.

If you're agonizing about how to sell time shares here are some tips that may help you:

Before you begin to sell your time share ensure that you're completely aware of what exactly it is that you're promoting. Gather all the information you require including documents related to maintenance, taxes and other details. Half knowledge is not going to place you in high esteem with the buyer. So be fully primed to answer any questions thrown your way.

Enroll with a Real Estate Agency that will agree to list and sell your condo time share. Most will extract upfront fees and then a commission once the sale is made. Refrain from paying upfront fees as far as possible because once you pay it the agency kind of loses interest in working for you. Also be mindful of tall claims that declare your time share will be sold as soon as the upfront fee is paid. This almost never happens.

Check the reseller's records with the Better Business Bureau and also with the Real Estate Commission. Make sure that the resellers that plan to sell your time share are licensed and ask for references from past clients. Always have a contract in place with the reseller that will cover all the fine points of the resale. This is to protect you from potential misunderstanding.

Besides, also ask for a statement in writing from the reseller as to his marketing strategy to sell your timeshare.

Another way to sell a time share is by listing it on an auction site like eBay. This will give you a fair idea of how much your time share can expect to fetch.

You can also use the resort itself to advertise your time share. Place an advertisement on a notice board or circular.

Placing an ad in a newspaper in the Real Estate Section either where you live or where the resort is located may also fetch you some interested buyers.

Much of the challenge to sell a time share is associated with the fact that very few are aware that a resellers market does exist. Most time shares are purchased directly through developers over a delicious dinner, wonderful presentation and hard selling tactics. Moreover, there's not much you have control over when you decide to sell your time share. At the most you get to choose the most effective means of advertising and the pricing of the unit. However, if you steer clear of scams and keep your expectations realistic you may be able to sell your time share faster than you expect to.