How To Quit Your Timeshare

Your once vacation hideaway has lost its appeal and now you are searching for ways to “get rid of my timeshare.” Although it no longer interests you, there are ways to sell or even give away your timeshare. Continue reading to learn more about how you can be relieved of something that is no longer enjoyable or affordable.

Find Out Marketability

Check online sites that have listings of recent timeshares to see if there are recent sales at the resort where your timeshare is located. This type of information will let you know if now is a good market for selling.

You can also look at other timeshare resort sales to see how different ones are priced. With this, you can gauge whether the value of your unit agrees with market expectations. However, keep in mind that price is not the only thing that indicates value. Location and amenities are other factors to consider.

Consider talking to a real estate agent who specializes in timeshares if you believe your unit has a good chance of being sold.

Put it in For Sale by Owner Listings

If you’d rather not work with an agent or cannot find one willing to sell your unit, list it on “for sale by owner” websites. Include pertinent details, including a good description and quality photos to help secure a sale.

Try Selling it Back to the Resort

Some major timeshare resort programs offer buyback programs for owners who no longer want to keep their units. Ask your resort if this is an option for you even if they do not have a formal process. If going into foreclosure is the alternative, they might be willing to take over the unit.

Rent it Out to Other Vacationers

Renting out your unit could at least cover the costs if you are unable to sell it. In most areas, the rental market is more robust than sales. Additionally, you might be able to find companies that will do the work of renting your timeshare for a fee.

Give it Away

If all else fails, you still have the option to simply give away your timeshare to a friend or family member. Finding a taker could save you the annual costs of maintaining the unit.

Whether selling, renting or giving it away, avoid scams. Never work with companies that contact you via postcards or phone calls with promises of a buyer for your unit. They don’t and will ask for a large upfront fee that leaves you with less money and a timeshare you no longer want.

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