“I have not been able to find an honest timeshare resale company; have tried for several years. I am considering allowing it to go into default and foreclosure. I do not want it, and cannot afford to keep paying the mortgage.
The resort is unwilling to at least renegotiate the monthly payments, or do anything to help me. I am desperate and will have to consider default and foreclosure. Will foreclosure end this? I want it gone – out of my name. I do not understand why there is so much fraud and deception in this industry, and nothing is done about it.
Are the states receiving some monetary gain, and that is why they do not do anything to solve this fraud?! This entire industry is a fraud and there is no way to find an honest timeshare resale company, if there is one. My resort will do nothing to help anyone unless you plan to upgrade. I don’t want to upgrade I want out and foreclosures seems the only way…”
It’s messages like the one above that drive us to continue running this website. We strive to provide information to assist both current timeshare owners wishing to keep their timeshare, and also people that want to get out of their timeshares. Below you will find some helpful tips on how to find an honest company to resell your timeshare.
How To Find a Timeshare Resale Company:
- Never use a company that charges an upfront fee in an effort to sell your timeshare. 9 times out of 10 these companies are scams, and you will never sell your timeshare. These deposits/upfront fees are never refundable, and just save yourself the aggravation and steer clear of these timeshare resale operations.
- Find out what your timeshare is REALLY worth. Do not rely on a company to do an appraisal and estimate the value of your timeshare – do independent research via the web, make calls, and reach out to others on websites like this to determine the ACTUAL VALUE of your timeshare. Side note: your timeshare is most likely going to be worth a fraction of what you paid (i.e. $20,000 timeshares sell for $200 on eBay every day of the week)
- Make sure the resale company is advertising your timeshare for sale in a variety of places. In this tough market, it’s not enough to just place a listing on one place – the best approach is multi-faceted and includes display of your unwanted timeshare in a number of mediums.
- Confirm the resale company’s status with the Better Business Bureau. If the company is brand new or has a negative rating – AVOID THEM.
- Find out what type of licensure the company holds. Ask if they are able to sell real estate as this is necessary in some states to transfer the paperwork.
- Try to find a company that works on commission – this helps to ensure they will work and see the process through to completion.