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Has anyone ever sold their timeshare before?

Times are tough right now and my DH and I are thinking about selling ours. Has anyone ever done this before? Any tips? Any advice will help. I don't know what company to go through. One company called me, but how do I know if it's legit.

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Anonymous

Asked by Anonymous at 12:12 PM on Sep. 8, 2009 in Money & Work

Answers (4)
  • You can sell them to another person.. Try calling the company you purchased it from and find out what their tips are. They are the best route as far as information.. Do you mind me asking who you bought it from?
    Anonymous

    Answer by Anonymous at 12:19 PM on Sep. 8, 2009

  • OP here.
    World Mark the Club. It's such a great timeshare, but we have other needs right now. :(
    Anonymous

    Answer by Anonymous at 12:23 PM on Sep. 8, 2009

  • I haven't sold timeshare but I have bought other people's timeshare. I have heard some real horror stories. First of all, timeshare has a very very poor resale value (except Disney Vacation Club). Selling it will only get you pennies on the dollar of what you paid for it. If you still owe money on it, you won't even get what you owe probably. The biggest advantage is that you will get out of paying any more maintenace fees if you sell it to someone else. About resale companies....any company that asks you to pay the fees up front is a scam. They will take your money and not have any urgency to sell your timeshare, if they ever do at all. You will get frustrated, take your timeshare back and what do they care, you already paid them. I bought my last resale for 1/4 of what the previous owner paid for it. I used a resale agent that I learned about in the timeshare forums on Yahoo. He was excellent, (cont)
    slw123

    Answer by slw123 at 3:50 PM on Sep. 8, 2009

  • (cont) he gave free advice, and he doesn't get paid until the sale goes through. His name is Jim.
    His email is bocabum1999@yahoo.com. I know he deals with several different timeshares, all you have to do is email him with your questions and he can either help you or point you in the right direction. My timeshare isn't the same as yours, so I don't have any specific advice to give about yours. But I definitely recommend Jim for information. Also because of the economy this is a bad time to sell your timeshare. Good for anyone looking to buy, very bad for sellers. Lots of people are in bad situations and desperate to get rid of them so they are going for next ot nothing. Also check Ebay to see what they are going for. I have seen people selling theirs for 1cent plus closing costs. Like I said Jim can help, tell him you heard about him in a discussion group, he knows his name gets passed around. Good luck!
    slw123

    Answer by slw123 at 3:56 PM on Sep. 8, 2009

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