Timeshares are deeded investment properties that are indefinitely owned by multiple people for the purpose of family trips and vacations. They can be inconvenient because your vacation options are limited to the timeshare locales and companies. It can also be cumbersome to change locations and cash out the exchange fees. As a result, individuals may often want to sell their timeshare. But before you do that, here are certain factors to consider and tips to remember.

Go through your contract
In order to sell your timeshare property, you must know all the finer points properly. This means you must keep in mind the details such as the exact location, the name of the resort or developer, and all the rooms and amenities that are available. You should also get a physical copy of your deed to the property from the resort since it is necessary when making the sale. Also, note when and how you can visit the property since this must be communicated to those buying the timeshare. Lastly, it is crucial to check if you have finished making all the payments on the property or still have any installments left.

Know your buyers
Once you have gone through all the details, it is important to think about who you are going to sell the timeshare to. The first option that you should consider is if you can sell it back to the resort or the developer that you bought it from. If that is not an option for you, you can either choose to sell the timeshare yourself or hire a real estate agent to do so for you. There are several online platforms available for sellers to list their timeshare properties and get good deals for the same. If you are planning to hire a real estate agent, make sure they are well informed about the laws and regulations that are associated with reselling a property. It is important to hire someone who is experienced in handling timeshare sale cases.

Create a good listing
This factor is vital for those that are planning to sell the timeshare property themselves. Once you find good and reliable platforms to list your property, make sure you create an attractive and informative listing to attract potential buys. Ideally, a listing should provide important information about the timeshare such as the location, the time of the year that it is available to the buyer, the price expected, and all the amenities that are available with it. If you can, try adding some good quality photographs too. Moreover, it is important to mention the type of contract that you are selling, specifying whether it is a deeded ownership or if it is right-to-use ownership.

Select an appropriate price
If you weren’t aware of this, the value of timeshare decreases over the years as opposed to that of a real estate property investment. Thus, it is important to be practical with how much you expect to receive when you are putting your timeshare on the market. The price of your timeshare listing should largely depend on how long you have owned it, whether it is properly maintained, and if it is located in a good spot. Moreover, it is important to be flexible with the pricing, especially if you have been unable to sell it for a long period of time, because ultimately, the value of your property will eventually reduce.

Beware of scams
This tip for how to sell your timeshare cannot be emphasized enough. As is the case with any financial transaction, it is important to be vigilant of the listing company that you hire or of the person pretending to be a buyer. As a general rule, be extra careful with any unsolicited calls you get asking about your listing, and do not pay anything or sign up for any extra deal or contract unless you are 100% confident of their legitimacy.