1. Run a title search. This will prove to potential new owners that the title is clear.
2. Contact the interval management company to prove what you own and owe. You’ll want the resort to send you the details of your ownership, including several bedrooms and bathrooms, the view, whether your unit is a fixed or floating week, as well as what season you have, and the usage frequency. Ask for the records showing your account is current and there are no outstanding special assessments. This will give potential new owners peace of mind and prove your timeshare contract doesn’t have hidden costs or delinquent fees.
3. List your timeshare online, but beware of who you choose to do business with. Many listing companies are completely ineffective no matter what the price point. Do your research. Ask where they advertise. Also, search Google for terms like “buy a timeshare” and see where they show up. Check eBay for an idea of what timeshares like yours are selling for on the resale market.
4. This is number four, but it should be number one. Once you list your timeshare for sale, you’ll likely be flooded with calls. Unfortunately, most of them will be from scammers posing as interested buyers. The Better Business Bureau warns that the timeshare resale market is one of the most likely places to get scammed in the country. Remember never to give your credit card, pay any upfront fees, or wire money to anyone without conducting due diligence.
5. Offer incentives. If you don’t get any legitimate bites right away, start offering free usage, free closing, or even cash cards (Again, remember, don’t give anyone a free cash card until your deed is transferred as the buyer may likely be a con artist).
And finally, if you are lucky enough to find a buyer, you can handle the transaction yourself or seek professional help to ensure the transfer is done right the first time.
Timeshare market has been flooded with units. The prices vary from free to tens of thousands of dollars. However, search eBay and you will find the resale market is non existent.
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