What is my Timeshare Resale Value?
There is a reason why ‘timeshare resale’ is such a commonly searched phrase in Google. Thousands of owners scour the internet daily, looking for a way to get rid of their timeshares. This usually happens when an owner can no longer afford to pay their maintenance fees or are unable to use their timeshare because of lack of availability.
You may have reached the point where you realize that signing a timeshare contract was a really bad investment. If so, you are probably looking for a way to recoup some of what you have already lost and thought that finding out your timeshare resale value was the first step. Unfortunately, selling is rarely the solution (or even possible).
Why We Don’t Sell Timeshares
Around 20% of the calls we get into our office are people wanting to know about selling their timeshare. Most people assume that like a used car, a timeshare can
simply be sold to someone in the market for a vacation spot. These callers are usually surprised to find out that although we offer solutions to timeshare problems, we do not give timeshare resale advice or list timeshares for sale. We do not buy out timeshare contracts either. What we can do is help you permanently cancel your timeshare contract once and for all.
There is a reason why we use legal remedies for getting rid of timeshares rather than putting them back on the market. The main one being that timeshare resale values don’t really exist.
Selling a Timeshare: What Disney Can Teach Us
If you are looking to list a timeshare for sale online, you won’t have a hard time doing so. There are tons of companies that specialize in this market. Actually selling your timeshare, now that will be a lot tougher.
There basic principles of supply and demand are at work here. The Disney movie, Frozen, provides a good example of this principle.
In one scene, the kingdom of Arendelle is covered in snow during a surprise summer blizzard. Two of the main characters, Anna and Kristoff, enter the only store in the area, in search of winter gear. The shopkeeper is pushing a ‘big summer blowout’ and urges the pair to buy some of the discounted summer items that cover the shelves. The few winter items available are on one rack and priced extremely high. Needless to say, Anna and Kristoff passed on the bikinis and suntan lotion and opt for the pricey winter items instead.
If your timeshare was for sale in Arendelle, it would probably be placed somewhere between the sunglasses and the pool floaties. Sure, the shopkeeper would offer to sell it for you. But because timeshares have saturated the market and are not in high demand, the likelihood of finding a buyer, even at a discounted price is not good.
Timeshare Resale Traps
In almost all cases, these timeshare resale websites will charge you a fee to get rid of your timeshare. This in itself is not the issue. The problem is that this advertising fee is usually expected upfront. What you will get in return is a listing on their website beside all the other timeshares that are already collecting dust. What the company won’t tell you is that while there is a heavy supply of timeshares to choose from, buyers are in short supply. In fact, they are virtually non-existent.
Over ten million people own timeshares, just in the US alone. Just like you, the masses are beginning to realize what a terrible idea timeshares are for consumers — leading to fewer and fewer people willing to take on such liability. There are literally thousands of timeshares listed on sites like eBay and Craigslist for $1.00. When you can’t give a product away, there is a problem.
A second timeshare resale trap consumers fall victim to involves companies that will ask for a large upfront fee citing they already have a buyer for your timeshare unit. They claim that all you have to do is hand over X amount of money and they will make the connection. After payment is made, they will promptly disappear with your money and fail to deliver on such a promise.
Timeshare Exit Solutions
Don’t be fooled into thinking that there is a resale market for your timeshare. Although anything is possible, finding a buyer for a timeshare is like finding a needle in a haystack. Instead of spending thousands of dollars in listing and advertising fees for a sell that will probably never happen, it is better to be proactive and pursue realistic options.
The very best way to get out of your timeshare forever is to hire an experienced timeshare attorney to help you cancel the contract once and for all. If you would like to speak with an adviser for a free consultation to discuss your particular situation, then submit your information below or call the Timeshare Freedom Group toll free at (866) 668-6872.