If you are thinking of reselling your timeshare, you need to choose a reputable resale company that will meet your needs. Here is how to select a timeshare resale company.
There are many resale scams, therefore, it is important to be certain that you are dealing with a reputable and trustworthy timeshare resale company. A good timeshare resale company will have membership with the Resort Development Organisation and you will have peace of mind knowing that they adhere to its code of ethics. Make sure you read reviews and testimonials from the resale company you are contemplating doing business with. In addition, you may want to check with Better Business Bureau if the company has any unresolved complaints.
It is important to go to their website and check the legitimacy of the company before giving them business. Ask for proof of their real estate licences which meets the requirements of the state where they conduct their business. Make sure you contact the real estate licensing agency to verify that the information provided by the company is valid.
Due to the increase of timeshare sells, there are many illegitimate companies that want to scam you. Some of the things that shows they are scammers include; if the resale company contacts you without an invitation, if they claim to have buyers waiting, if they ask for bank statements and credit card, and if they pressure you to make a quick decision. Some companies will pressure you to sell your timeshares so you can purchase more timeshare from them.
Look for a company that has excellent advertising campaign in order to market your timeshare. They should use multiple advertising outlets including billboards, TV, radio and the online media. This way, you can be assured that potential buyers are aware of the property and you can be guaranteed of a quick sale.
Unlike real estate, timeshare depreciates in value, hence, it is vital that you price it right. It is highly recommended that you compare the prices of timeshare in the same resort so that you will know what to price your timeshare. Don’t overprice, rather sell lower than other properties selling in the market so that yours can have the first priority.
Finally, a good resale company will give you an offer writing and send it by email. They should also give you a full description of the services that they will offer you before you make any informed decisions. Also, you should obtain a detailed written contract that includes the costs or fees that you will pay, the duration of the contract and explaining whether you can rent or sell the timeshare on your own. Before you sign the contract, read the terms and conditions and make sure that you understand them.