HOW TO SELL A TIMESHARE
As a closing attorney and an expert in the timeshare industry, I've been providing legal advice to timeshare sellers for the last nine years. Here are the four most popular ways people sell their timeshares, although not all of them are good.
Option 1: Listing Companies (poorest choice)
Historically, the most popular avenue for selling a timeshare is to hire a "listing company." Ironically, this is also the worst choice. These are web based advertising companies that charge anywhere from $300-$1,200 to list your timeshare for sale on their website. These companies only sell 1-3% of the timeshares they list. That means 98 of every 100 customers get nothing.
Listing companies often entice...Read more
Option 2: Rescue Companies (poor choice)
Rescue companies began popping up about three years ago in response to the drop in timeshare values. In 2002, 90% of timeshares were salable. Only 10% had no market value. Today, 70% of timeshares are not marketable by the average person. (It takes a resale center able to move many timeshares at pennies on the dollar in order to outpace the cost of marketing.)
If you have just one timeshare for sale, chances are that even the most creative and savvy internet marketer won't be able to find ...Read more
Option 3: Friends and Family Program (Good choice)
An easy and effective way to transfer ownership of your timeshare is to sell it to someone you know, perhaps a relative or co-worker. This is your best option if simplicity...Read more
Option 4: Donate your Timeshare to Charity
(Best choice)
Through Donate For A Cause
Donation is the best option for most timeshare owners. While many people hope to recoup some or all of the $20,000 they spent when buying a timeshare, the truth is that this probably won't happen. Most timeshares today have no resale value. Even the best are worth a quarter of their original price.
Donating your timeshare will allow you to take a hefty tax write-off and quickly get out of your unwanted property, i.e. recurring assessment fees...Read More