How to Get Rid of an Unwanted Timeshare
There are many reasons why you may have stopped using your timeshare – from changes in finances to new family obligations. No matter the reason, we understand the financial burden that a timeshare ownership can become.
To assist you in this process, we have expert advice on how to remove your ownership. Learn more about the pro’s and con’s for a number of popular timeshare removal options below:
Most owners who need to get rid of their timeshare, first look to selling it. They want to recoup some of their original investment. However, they soon realize there is an extremely low ratio of buyers to sellers. Worse, many become victims of ruthless scammers (which greatly outnumber legitimate buyers). The sad truth is that the resale market is so depressed, that most owners cannot find a buyer for their timeshare ownership. Thankfully, there are legitimate options out there. But even with legitimate options, owners need to know how to identify the good from the bad. Read on to find out how to safely get rid of your timeshare.
Timeshare Listing Companies
A timeshare broker will list your timeshare and negotiate a price on your behalf. Again, beware of paying any upfront fees. Many owners have been scammed by so-called brokers that claim to have a buyer waiting if the unsuspecting owner will just put down a deposit. Broker services should be billed as a percentage of the timeshare sale price. The fee should only be paid once your timeshare transfer has been recorded with the county in which the resort is located. Hiring a legitimate broker is a good idea if your timeshare is still selling on the resale market. Timeshare Specialists can identify if you have one of these properties free of charge. We can also act as your broker. Our relationship with Resort Closings, Inc. will ensure that your ownership is transferred properly with the County and the Resort. If there is still demand for your timeshare on the resale market, using a broker on a commission basis is a safe and headache free way to get rid of your timeshare. [top]
Resort Takeback Programs
Some resorts are starting to take back properties or sell them on behalf of owners. The options offered by resorts are based on each owner’s situation and they usually offer solutions for owners with financial hardships. There may be fees associated with the programs, but if you are unable to sell your timeshare be sure to reach out to the resort and see what options they are offering. [top]
Timeshare Transfer companies generally charge a fee to liquidate an unwanted timeshare. This is an option for timeshare owners who have properties in very low demand on the resale market. This service is similar to brokerage services, however since the Timeshare will likely have to be given away or even come with prepaid usage, the broker won’t be willing to work for a commission. Timeshare Specialists, Inc. offers liquidation services. With our Guaranteed Transfer Program, we do all work of finding someone who is willing to take over the ownership. We work with Resort Closings, a licensed, insured company that performs the title search, document drafting, and recording. Just like our brokerage option, you’ll never pay an upfront fee, and money only changes hands after your property has been legally transferred out of your name. Our prices are extremely fair, and our work is exemplary. But whether you choose to work with us or not, you should always avoid companies that charge an upfront fee. Only pay after the service is complete. [top]
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Resort Closings, Inc is a licensed and bonded escrow company specializing in the legal transfer of timeshares, if you need to transfer your ownership to a new owner, they can help!
Ready to list your timeshare? Buy and Sell Timeshares, offers affordable subscription based pricing, so you won't over pay to list your ownership.
If you are buying or selling a timeshare, use our Timeshare Scam Database to avoid know scams on the Timeshare Resale Market.