Selling timeshares isn’t as simple as selling a property the traditional manner. When you sell a house, buyers are clear about what they are paying for–entire ownership of a property. Purchasing timeshares involves different degrees of ownership, from fractional ownership to the right to use a property for a week a year. The unfamiliar terms and conditions of timeshares can make selling timeshares confusing. Learn how timeshares work and what determines their price before you begin selling.
Week Amount
A timeshare property can be divided to 52 timeshares: 1 for every week of the year. Not all weeks are worth the same. The value of a timeshare will fluctuate based on how much need there is for this week. Which months are more popular depends on the location of their property. Timeshares nearby ski resorts, for example, have their high season during winter months, while Caribbean retreats are popular in spring and summer.
Resales
If you’re hoping to resell your timeshares, hope to market below your purchase price. According to Stroman Realty, an online timeshare broker, the average price of a timeshare resale is between 25 percent and 50 percent below the developer’s pricing. The Federal Trade Commission is not as optimistic. One FTC report says “(timeshares) resales are hard if not impossible because there’s no secondary market and timeshares seldom appreciate in value.”
Location
Not all timeshares are made equal. Consider the location of a timeshare when deciding its selling price. Popular places like Hawaii or Florida come at an excellent price. The view, building quality and conveniences of a property are all important, but place trumps all.
Deeds
Timeshares come in two chief flavors: deeded and non-deeded. Deeded timeshares supply the purchaser with a genuine ownership interest in your property. Non-deeded timeshares supply just the right to use the property during a particular period for a certain variety of years.