Top 5 Things to Avoid When Renting Or Selling Your Timeshare

Top 5 things to avoid when trying to rent and/or sell your Timeshare In simple terms, a Timeshare is a luxury villa purchased by one or more parties that have a share in the DEED of the property for a specific time each year or every other year, depending on what plan they buy. Nowadays, the timeshare industry is bigger than ever, people are buying and selling their properties on a daily basis. With this being said, here are 5 things to avoid when trying to sell or rent your timeshare. 1. Don’t ever attempt to sell your timeshare on the spot because of a so called “buyer.” . This is usually a scam where you will be quoted a sales price that could be obtained on the timeshare, and all you have to do is part with some money to cover the closing. This is known in the industry as a “buyer pitch.” Typically a company will call you out of the blue and say they have someone interested in purchasing your property. At first, they will verify your info and give you some websites to verify their identity. Usually they will follow up with you in a few weeks and ask for you to send the closing costs that can vary between one to several thousand dollars. After that they will disappear. 2. Don’t work with an agency that does not charge you any advertising fees. Legit agencies that work with timeshares provide advertisements for your timeshare for a fee, which can go from hundreds to thousands of dollars. Without advertising, nobody will know your properties for rental or resale are available 3. Don’t list the timeshare on Craigslist or eBay. Although this usually looks like a great idea, your listing will attract dozens of spam offers usually from similar timeshare companies. Another downside is that it may take a very long time to share your timeshare, if it sells at all especially because you are competing with timeshare owners willing to have prices as low as $1. 4. Don’t respond to mail offering you a deal. Legitimate timeshare companies and agents do not send mail asking for business. They don’t send postcards either. Legitimate companies are well established and they usually wait for the sellers to approach them. If you receive a call from a company telling you they have a buyer for you, it’s very likely just a scam aiming for your money in fees. 5. Don’t stop paying for your timeshare maintenance while you are trying to sell your timeshare. If you stop paying maintenance you will be turned to a collection agency, and this can seriously damage your credit.