Have you realized that the time for selling your timeshare has arrived? Maybe your family situation has changed, maybe you are simply fed up with having to vacation at the same place over and over, or maybe you just plain need the cash. Whatever the reason, a lot of timeshare owners are shocked when they discover they are most likely going to have to take a loss on the transaction.
If you have not already done so, the first step should be to find out whether the company you bought your timeshare from has a set up for buying them back. You may not decide to go this particular route, but it will at least give you some useful information.
If you want to save yourself some agent or brokers fees and are willing to try selling your timeshare by owner, then here is a suggestion you might not otherwise have thought of. Did you realize a lot of people use online auctions and eBay even has a timeshare category. When we checked, there were more than 1,740 timeshares up for grabs on eBay. Again, even if you do not decide to auction your timeshare online, if you look at the ads others have placed, you may gain some insight on how best to market yours.
If you are facing the painful fact that you are going to have to take a serious financial loss, here are two more rays of hope.
1. You could rent your timeshare instead of selling it. Look on Craigslist in the vacation rentals category and you will see that a lot of timeshare owners are doing this.
2. As a last resort you should also consider donating your timeshare to a charity. This is not as stupid as it may first sound. Especially if the charity is willing to write you a donation receipt for an amount that is much closer to your original purchase price. Depending on your income tax situation, having this tax deduction may work out to be your best solution.
If you have not already done so, the first step should be to find out whether the company you bought your timeshare from has a set up for buying them back. You may not decide to go this particular route, but it will at least give you some useful information.