Alternatives To Selling Your Timeshare

Alternatives To Selling Your Timeshare

Alternatives To Selling Your Timeshare

If you have a timeshare that you are no longer using or which you simply don't enjoy any longer, you may already have found out that this is not the easiest type of real estate to sell. Just as you put serious consideration into your initial purchase, everyone else must do the same before purchasing the timeshare from you. Finding the right buyer who has the ability to purchase the timeshare, who enjoys the location enough to make that purchase, and who can take time away from their daily life to make use of the property takes some time. Plus, most timeshares sell for 40% or even 50% less than their original purchase price! If you don't like your odds in that deal, consider your alternatives to selling.

One alternative to selling is to rent your timeshare out to others who are interested in vacationing in that area, but who may not be interested in purchasing it. This gives you some income off of the timeshare so it is not a complete waste sitting there unused. Ask your timeshare developer if they have classified listings for rentals and place an ad there to start. You can also contact real estate agents in that area to find someone who deals with rentals. Just remember that you may owe a fee to the real estate agent if they do rent out your property.

You can also sell your timeshares by yourself by either advertising directly in classifieds or telling your friends, neighbors, family members and colleagues to see if anyone is interested in buying a timeshare. If not, the internet is the best place to find out where you can put your timeshare up for rent. There are many popular auction sites like eBay which has timeshare rental section on their website.

So, what if you really don't need to sell your timeshare for financial purposes, but maybe the fixed time schedule no longer works with your personal schedule or you are tired of going to the same location every vacation. You can solve this problem by contacting your company and asking if they allow timeshare exchanges. If they do, you could actually find someone else willing to exchange who has different scheduling options or who owns a timeshare in different area. In most cases you will have to pay a fee for an exchange, though some companies now offer free exchanges within the first year of purchase.

If your timeshare company cannot arrange an exchange or wants a very high fee, there are some independent companies who work out exchanges. The only trick is you will have to exchange with a timeshare very similar to your own, which means if you have a one bedroom property you will not be permitted to exchange for a two bedroom property. These companies do charge fees and you might have to wait until they find a matching property that is up for exchange.

If none of those options work for you, there is one more alternative that most people never think about. You can donate your timeshare to charity! This allows you to give back to an organization that can really put the property to good use and you could walk away with a really nice tax deduction at the end of the year. It does require taking a loss off your initial investment, but you are going to take a loss after selling it as well. Donating takes less time and contributes to the good of your society as long as you think it through and donate to an organization that will be able to really use it for good.

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