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Timeshare Resale Levels - Get Rid of It
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2/25/2011 12:55 PM (PST)

Irregardless of philosophy, "what should be", or greed the mechanics are the same. There are many levels of getting rid of your timeshare. Test each one and decide which is best at this point in time.Consider time because it will cost you more fees if it goes until next year. ** Never believe anyone will accept your timeshare and pay off your mortgage or past due fees. That won't happen. It must be free and clear and paid up. Keep in mind that the after market buyer is looking at it, not as a resort, but as a perpetual future annual bill they are taking on. 1.) DIRECT SALE. You find a buyer willing to pay an acceptable sum to you for the timeshare without having to pay any listing fees. This is usually done through some realty company that will try to get it sold for you on a commission only basis. You pay NO up front fees, get the cash at closing, and control what you will accept. The downside is that it usually takes a long time and only works on the very best units and weeks at the very top resorts. 2.) TUGs. You join a forum or TUG (Timeshare User Group) and post it on their site for a small membership or listing fee. This won't get you any more money, but the members usually are experienced and can tell you what to expect. There are members who keep and use their timeshares and, when the price and annual fees are low enough, will pick up more they think they can use. The cost is minimal. The viewing is reasonable and includes people experienced with timeshares. Those viewers know the low prices they can pay so your receipt will probably be lower. 3.) ONLINE LISTING. You decide to pay a fee to a listing company online. This can range from as low as $15 to as much as $950. The difference is how many hits they get online. This doesn't mean it will sell, especially if you set a price that you initially think is reasonable. The vast majority of these end up never selling. 4.) EBAY. Post it on eBay. When you do, look at the advanced settings to find out what your resort has actually sold for during the last year. You'll find most go unsold or sell for $1. There are dealers out there who you compete with selling for $1. The large majority go unsold. This is essentially the opportunity to give it away for FREE if you're willing to do that. Even then often there are no takers. 5.) DONATION #1. Most charities do NOT take title. They turn it over to their broker and try to sell it for you. This is up to the charity. If it sells, the IRS says they keep the money and you can only deduct that actual cash received, not your original cost or any other amount because value is established on that unit. If they don't believe they can sell it quickly (usually in two weeks) they won't even accept it. If they do take it, you're still on the title and hook until it's sold. You can contact a lot of charities quickly to see if they think they can sell it. Most will have experience and tell you quickly instead of stringing you on. 6.) DONATION #2. a very few c

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2/25/2011 3:51 PM (PST)

Thanks for your perspective, Ken. Feel free to continue your thoughts in another post (there's a 3,000 character limit to each one).

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5/21/2015 12:13 PM (PST)

There is no resale market for timeshares. The best thing you can do is cancel your timeshare contract, it is the only way to get rid of an unwanted timeshare. I recomend you to visit http://www.timesharescam.com/blog/

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