Sell Time Share Week
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RedWeek is the largest online marketplace for \"by-owner\" timeshare rentals and resales. If you own a timeshare, you can post your offering yourself, or use our full-service rental or full-service resale options and get assistance from RedWeek's full-service team.
No, RCI and II both prohibit this practice, as do some of the smaller exchange companies. Please be sure to check that renting your timeshare isn't against any company's terms before posting to RedWeek.
The pricing of your timeshare rental or sale should be largely based on supply and demand. Check out your resort's page on RedWeek.com to see what other owners are charging for similar units, and use our What's My Timeshare Worth tool to see historical rates by week and unit size. No matter what price you choose, make sure you sign up to be notified as new postings are added on your resort's page. This will allow you to keep track of your competition and tweak your pricing (for no extra charge) as you go.
If you own points or time in a vacation club, you have a couple of options for posting your offer, assuming your ownership doesn't prohibit you from doing so: For rentals: Reserve the most desirable resort/week combination available to you and advertise that week. Use our What's My Timeshare Worth tool for historical data on the best weeks at any resort. If choosing DIY, post several rental ads across the resorts you can reserve, making sure to deactivate them all when you find a renter. For resales:
Determine what type of access arrangement you have to the property. Do you have a fixed week during the year, a floating week during a certain period, a time each year based on a points system, or some type of combination
Maybe when you bought the timeshare you had a specific week you visited each year. Then after a few years you took an offer from the resort to accumulate points instead of reserve a certain week for your vacation. If you did, be sure to check with your resort about the resale process. You may have to convert all those points back into the equivalent weeks before selling.
If you go with a timeshare listing company who says they want to try to sell your timeshare, use caution. A lot of scammers have started taking advantage of the desperation so many timeshare owners feel. Put in the time researching potential companies by checking with the Better Business Bureau and the American Resort Development Association.
Make sure the people at the company you choose not only know the law concerning timeshares, but also really know your rights as a consumer. They can be great advocates for you during this whole time.
This article was written for owners, by owners and provides a step by step guide on how to sell your timeshare the RIGHT way and avoid being scammed and or parted with your hard earned money! There are many ways to sell a timeshare, however in our 25 years of history and experience from helping tens of thousands of owners, we show you how to do it the right way here for free!
One can literally spend hours on the TUG forums, or any search engine and find countless examples of companies that make amazing promises about being able to sell your Timeshare, if you just give them a few hundred (or a few thousand) dollars upfront!
To help establish an asking price for your timeshare, try to find out what other weeks like yours are selling for. Ask your resort about recent sale prices, check the TUG sales history database (to which you have access if you are a TUG member), look at current and completed eBay auctions, check real estate records in the county where the resort is, etc. It is important to look at SUCCESSFUL resale prices, not existing unsold ads at prices near or above the original retail price! There is a reason these remain unsold!
When you have done all of that work, you might be even more confused as to what asking price you should set. As an example, you might find 15 listings for your timeshare here on TUG in the Timeshare Marketplace or other sites at asking prices ranging from $1 to $12,000. First, keep in mind that most timeshare owners have no concept of what resale values are. They may incorrectly think of their timeshare as a traditional piece of real estate that should appreciate in value. Thus, they way overprice their timeshare, looking to recoup - at a minimum - most or all of what they paid for it. Second, make sure you compare the details of your week (week or season of the year, # of bedrooms, view, etc.) with the other for-sale listings for your resort to determine which listings are reasonably comparable to yours. Lastly, keep in mind that if there are multiple listings for the same or similar timeshares, buyers will seek to buy only the one listed at the lowest price. Thus, you should almost always list your week at or below the low end of the range of asking prices you see. Otherwise, you will own your timeshare for a long time!
As a TUG member, make sure you post your ad in the Timeshare Marketplace! Ask your resort for ideas of how others sell their week. Advertise on a bulletin board or in a newsletter at your home resort, craigslist, at the various on-line free timeshare resale services (see listing below) and at timeshare related locations where you can advertise for a nominal cost (e.g NO UPFRONT FEES)
Another successful location is e-Bay! Setting a reserve as low as you are willing to sell for or, perhaps even better, no reserve at all. Check completed listings to see what others have successfully sold for to get an idea of what you can expect! Resale buyers are bargain shoppers, and highly unlikely to pay a premium especially when they can just wait for another week to come up for pennies on the dollar!
It's also possible, perhaps likely, that your timeshare loan is a personal consumer loan rather than a mortgage-type loan where the lender takes a security interest in your timeshare. If so, you can probably sell your timeshare just as though you didn't owe any money. But keep in mind that you'll still have to repay that loan eventually!
If the high unpaid balance on your timeshare loan prevents you from selling, consider trying to rent your week each year to minimize your losses until you can get the debt paid down somewhat. Much of what is written in this article (paying no up-front fees, setting a reasonable price, etc.) applies equally to rentals. (See the How to Rent your Timeshare free advice article.)
Once you start listing your week for sale, expect calls and e-mail messages from entities promising a quick sale at your asking price (or even higher). All you have to do is pay an up-front fee of $99 to $799. When that happens, go back to the Up-Front Fees section at the beginning of this article! If you are wondering if the company contacting you is legitimate, read this article here! Is this Timeshare Company Legitimate
Another gimmick is to invite you to a meeting at a second tier hotel/motel near where you live and offer you several thousand dollars for your timeshare. At the same time they \"invite\" you to purchase a great (not!) vacation package for (usually) $6,995. The problem is that the real value of the vacation package (\"free\" cruise, discounted vacation rentals, discounted air fares, etc.) is several hundred bucks at most. All of the package offerings can be found on eBay and other Internet sources for nominal prices. Further, the \"free\" cruise and other benefits require significant additional payments.
A similar scheme is the meeting at that same second tier hotel/motel where you're told you can unload that terrible no-value timeshare that you have simply by paying $3,995 (or some similar high amount). You might also be told (incorrectly) that the loss you incur upon sale is deductible on your tax return. Before considering such an expensive and unnecessary transaction, follow the various sale options discussed in this article!
Whether you or the buyer pay such closing fees is a matter of negotiation between you and the buyer. Using such a service is not a substitute for having a contract with the buyer. Another reason for using a closing company: Keep in mind that you are responsible for the timeshare maintenance fees until the resort is properly notified of the title change, along with payment of the resort's transfer fee, if applicable.
For someone who wants to handle the paperwork themselves vs hiring a professional, A kit from My Resort Network sells for under $10, but might not include legal language required if the timeshare or one of the two parties is in Florida.
Selling a timeshare week takes effort, patience and diligence and common sense (to avoid the scams). But the effort, if you are realistic in your expectations, will pay off! TUG has hundreds of successful completed resale and rental listings each and every month, and we prove day in and day out that you can indeed sell your timeshare yourself without paying upfront fees!
You can get started today selling your Timeshare on TUG and have your ad up in one of the largest online marketplaces for Timeshares in the world. Join TUG Here and have your Timeshare Resale in front of thousands of potential buyers today!
The TUGBBS online community forums consists of tens of thousands other timeshare owners and is the first, largest and most informative online Timeshare Forum on the internet! No timeshare question goes unanswered no matter how simple or complex! With Timeshare experts and owners alike, you will learn more from just reading and participating in these forums than you could ever imagine!
The TUG Timeshare Marketplace is one of the largest and most visited timeshare classified ad sites on the internet with Millions of dollars in completed listings and thousands of current ads posted by owners! All ads are open to the public and do not require membership to browse! TUG Members receive free classified ads in our Marketplace to sell or rent your timeshare all year! 59ce067264