Finding a Timeshare Resale Company
Recently we received the following message from a distraught timeshare owner trying to get rid of an unwanted timeshare they can no longer pay for:
“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.
I am a proactive resale company. What does that mean? John lists timeshares and waits for people to call and buy one. Success rate% 0? 1%? 5%? I helped a client out of 13 timeshare weeks in North Carolina. How? He paid his matinence fee to the resort. I spent 2 weeks there PROACTIVELY finding potential clients. The best prospects to buy another timeshare week at a resort are the ones who already own theire So, I found a few buyers. Assumed the rest of the weeks from him. He is free of 13 timeshares, I got 2 weeks vacation, and earned a finders fee for my income. Resale companies, in Timeshare, are a waste of time, energy, space, and most of the time, money! Try a PROACTIVE RESALE TEAM OF FORMER TIMESHARE REPS. SUCCESS RATE MUCH BETTER. AND SAVES MONEY,, I even meet you face to face. I m tired of scams and illegitimate timeshare dealings. I admit I was involved at a time in my life. But, now I have the knowledge to help. Not hurt! Only money initially is money you pay to the resort. I m just a guest getting to use it! It works. It’s new, but it works!
Before I respond- I would like to state up front that I have been a timeshare owner since 1990 and I am now associated with a resale company. Having said that, I would like to share my thoughts. Resale companies serve 2 purposes. The easiest- being offering timeshares for sale at a fraction of the cost of resort prices. We advertise that we can save 80% off resort prices. In reality that number is closer to 90%. The reason we can offer these savings is exactly why the second purpose is so difficult. That being selling timeshares for owners that wish to sell (and actually recouping some costs). We have a waiting list of thousands of owners that just want to give away their timeshare to get out of maintenance fees. Because of this fact there is no way I can promise an owner that I can get them thousands for their timeshares but we can help them just get out.
The reason resale companies have a bad reputation is that there are many companies that won’t tell the owners wanting to sell the truth. Instead they tell them they can get them thousands and charge hundreds or even thousands of dollars up front.
can you help me
Do you charge upfront fees?