Selling Time Share
Selling time share properties to free yourself from making payments, yearly maintenance fees and property taxes makes sense if you can’t afford it anymore.
Or you may feel like the cost of your timeshare just isn’t worth spending the next 10 years paying off the loan. Whatever your reason for selling your timeshare there are some important things to consider once you decide to sell.
First you need to ask yourself, do I sell my time share myself or should I list it with a timeshare broker? The two are quite different because if you list your timeshare with a broker everything is handled properly for you. Many people go this route because they just don’t know what is involved or don’t know how to sell a timeshare. But if you decide to sell your timeshare on your own you are the one responsible for all of the paperwork being handled properly.
The first thing a broker does if you list your timeshare with them is go to his buyer data base to see if there are any matches to your property. If not then he will advertise your timeshare to get a better chance of a quick sale. If you are selling your own timeshare you need to advertise it because it’s the best way to find a potential buyer.
Selling time shares is a real estate transaction which means there will be title and escrow paperwork that needs to be done properly. A timeshare broker handles all of the title and escrow paperwork. But if you are selling your time share you need to shop the title and escrow companies to determine who has the best fees. They vary greatly and you don’t want to over pay for fees.
Once you find a potential buyer for your timeshare you need to send them the proper paperwork that the title and escrow company provides you with. Then, once the paperwork is delivered to the escrow company they will go over it and will contact you if you need to make any changes.
A timeshare broker on the other hand, makes sure the paperwork is done right because they are experts at it. They have the experience of doing thousands of completed transactions which makes everything quicker. Timeshare brokers can make selling timeshare properties very easy.
So what’s the best way to sell a timeshare? That really depends on how much you want to get involved in the process and how much time you have. Most people believe that not paying broker fees will save them money. However, between your advertising costs as well as your title and escrow costs you may not really save anything. Add in the time it takes for everything and using a timeshare broker may be a wise choice.
Which ever way you choose these are some important considerations for you to think about before you start the process of selling any time share property.