24 Nov What is the true state of the Timeshare resale market? How can you get rid of your Timeshare?
Sir Frances Bacon said, “Knowledge is power.” Here are current timeshare resale facts for your empowerment.
- If you haven’t listed your property for sale and someone calls you, THEY ARE NOT A BUYER. THEY DO NOT HAVE A BUYER, even if they claim to be a law firm or real estate broker. A real estate licensee must have a listing agreement with you before advertising or offering your property for sale so even if you did list your property on-line, YOU are the seller. NO ONE can sell it for you without first being in agency with you.
- Timeshares DO NOT resell for the amount you paid for them. They DO NOT gain equity.
- The timeshare resale market is flooded from Baby Boomers retiring in mass, slow economic recovery from the 2008 crash and subsequent Great Recession. There is also the common trilogy of death, divorce or disaster. Your property is just another one on the pile, despite your emotional attachment or the monetary outlay to date.
- People pay for disposal by relinquishing toward the purchase of a point based program or travel club. The cost includes the price to transfer and the first year or more of maintenance fees.
- Others pay several thousand dollars to relief/exit companies to transfer the property out of their names.
- eBay is the largest timeshare reseller in the world with properties posted for $1 with free closing costs and prepaid first year usage. This is what sellers are competing with.
- The cost of transfer falls on the seller. DO NOT be dazzled by the false promise of a big check.
- NEVER pay an up-front fee.
- The value of timeshare is in its use. If you are paying maintenance fees year after year without vacationing, then it is time to let go.
- Call me. Timeshare Oasis has the resources and programs for a reasonable fee for service and you don’t have to buy anything else. Let us know what you have and we’ll let you know how we can help.