Are You Selling A Timeshare?

If you are looking to sell your timeshare, you already have figured out that you will not make a profit on the deal

. Once you factor in the original price, finance and interest charges, maintenance fees and taxes of the years, you will have a number that cannot be matched at closing time.But that's OK. You didn't buy into the timeshare to make a profit, but to have access to a property for personal and family use. And hopefully, the memories of all those times will be worth it.

Before you can sell, you need an asking price. Resources of the past won't help you here. The local paper can't give you prices for your timeshare, but the Internet can. This can be frustrating to the timeshare owner, but this is because timeshare property is very specialized.

Before you can make any decisions, you need to know just how much your timeshare could realize if sold today. And this is not as difficult as you might think. Using on line resources you can get a listing of what your timeshare is worth based on real sales of similar properties.

Once you have a value, the next step is to set a price. You will need to determine if you want to price to sell or price to recover more of your investment.Pricing to sell can be a good idea if you don't have a lot of reserve cash and the maintenance fees and property taxes that accompany your timeshare are becoming difficult to fit into the family budget. In the current economic slump, this is an increasingly common situation.

The danger here is to price it too low. Under priced houses send a warning message to potential buyers that something is wrong with that property. Unless you hit upon a speculative buyer willing to take the risk for a chance at a bargain, you probably won't get an offer.

by: Jeff Way

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