Owners getting rid of their timeshares sound pretty common these days. This may even gave birth to new industries such as the resale and timeshare transfer companies like the Transfer Smart. But for whatever reasons, a number of owners need to dump their timeshares as much as possible before it will drain them out financially. There are also various ways to get rid of a timeshare and this article will try to compile those.
One of the most common tips given to owners trying to get rid of their timeshares is to never pay an up-front fee. Either it is for appraisal fee, market analysis fee, marketing fee, advertising fee or even new fee terms not been heard in the timeshare trading market. Today scams are everywhere in the timeshare market and most scams operate by asking for an upfront fee.
Another tip is try to be as realistic as you can in pricing your timeshare. You need to know that timeshares being sold in a resale market will have a par value of only 10%-30% of the price when you bought it with your developer.
One great move is to advertise your timeshare extensively, offline and online. You may try advertising through your local town through fliers, newspaper ads, radio or TV and inform friends. Also, online advertising can be done by visiting websites that offer free timeshare resale services that you can advertise for free or for a low cost.
If your timeshare have an outstanding loan, the best way to deal with this is to consider refinancing your loan. You may get a financial institution that offers a low interest rate with a monthly payment plan that will not hurt your budget.
However, if you’re not successful upon doing all the necessary tips indicated in this article, the last option to do is to donate your timeshare and make a tax deduction claim for it. Generally speaking, getting out of your timeshare would really take a lot of your time, effort and patience.