Sell A Timeshare

Why Is It So Hard To Sell A Timeshare?

Timeshares bring an owner the ability to visit luxury resorts and apartments every year, and this fractional ownership is pretty popular among vacationers. However, an obligation to pay high annual maintenance fees can make things worse since if an individual could pay the defined amount of money a few months ago, it doesn’t mean they can do it now. It is where a timeshare release appears together with a long timeshare cancellation process. This article will discuss the most common problems with timeshares on the current resale market.

Is it hard to sell a timeshare?

It might be so. Selling a timeshare property remains one of the ways how to get rid of unwanted property, but it won’t work for everyone. Giving a property back to a resort or transferring a timeshare deed to your friend or relative can be more effective solutions. So, how hard is it to sell a studio timeshare? Keep reading to find out.

 

1. Prices for timeshares

On the real estate market, there is a tendency to value houses and other property according to the prices of similar facilities. However, the price of a timeshare property ranges depending on how much people are ready to pay for a week in a particular resort, the popularity of the resort, the number of newer properties on the market, available amenities, the level of maintenance, etc. Apart from that, since timeshares are considered luxury properties, they depreciate in poor economic times. Your timeshare is likely to be worth much less than you have paid for it, and this is a problem.

 

2. Finding potential buyers

Most people are willing to buy a new property on the market, and such timeshares are typically advertised well. This makes it harder for many resellers to attract the attention of buyers, and herewith they can’t afford additional services for promoting timeshare, except from online advertising and in a resort itself. Working with a reseller might be an option. However, you will spend money for the reseller’s commission while the price for your property is already low.

 

3. Fees

The salesperson who has sold you a timeshare probably hasn’t mentioned an obligation to pay maintenance and membership fees annually and share real estate and other taxes. This might be a reason why you cope with difficulties while reselling your property, as people commonly aren’t interested in paying high fees for visiting a resort once a year. Lack of flexibility can also be an obstacle on the way to successful timeshare selling.

 

4. Resellers

Many people don’t trust resellers due to some reason. If people decide to buy a property on a resale market, there is a risk for them to encounter fraudsters. The unscrupulous agents might require an individual to pay upfront fees and typically don’t have a license to sell your timeshare in the region where it is located. Make sure you sign a contract with a buyer to show that you aren’t a fraudster.