In 2017, a great piece of financial advice is to never, ever purchase a timeshare.
But even just 5 years ago, hotels and property managers were successfully poaching on customers who could be impulsively and emotionally swayed into purchasing one, often often luring potential buyers in with free hotel nights, vouchers, and much more. In fact, in 2011, timeshare sales totaled $6.5 billion.
The Misunderstood Deals
While most timeshare owners would agree that the deals sounded appealing at the time, especially while in the glow of vacation, the reality of the “deal” at hand has surely set in by now.
With so many risks and hidden traps that cost buyers thousands of dollars, most timeshare owners in 2017 are doing everything they can to offload their ownership.
But, to no surprise, getting rid of a timeshare is much harder than acquiring it was in the first place.
Rock Bottom for Sales
“People have a heck of a time selling their timeshares,” says Jeff Weir, a spokesman for RedWeek.com. “There’s such a glut of timeshares on the market for any resort you can think of.” One real estate broker with RE/MAX Properties in Orlando shared that the average timeshare she sells goes for $3,000 to $7,000.
This is a small fraction of the $20,000 to $30,000 timeshare buyers originally pay.
But the ability to sell timeshares heavily depends on the location and the upkeep of your property. There are tools out there to help you calculate the value of your timeshare and help you sell it.
How You Can Sell Your Timeshare in 2017
If you are a timeshare owner, don’t lose hope. Selling your timeshare is still doable and we’ve gathered some of the top resources on how to go about it above.
