When you consider selling your timeshare just by picking any timeshare reseller you run the high risk of being scammed. Today, there are thousands of companies online promising a buyer for your timeshare. These are red flags that many timeshare owners overlook due to desperation, greed, or was misinformed. Most people have good intentions and would not think they would be scammed on a real estate deal for their timeshare. But they do.
To be eligible to sell your timeshare you must be current in all fees. It is important to understand that you will need to pay maintenance and member fees in order to maintain your property. These are legally binding payments just like your mortgage, property taxes, or insurance. If you fail to make your payments on time, you risk losing ownership, which will negatively impact your credit report and score. These tips will help you avoid falling behind on your timeshare payments.
Find a legit buyer first. The legitimate buyer will often offer a discount of up to 99 percent on the original timeshare price. Some timeshare owners try to sell their property for a dollar, on eBay. Before making a sale, be sure to investigate the reputation of the company. They will likely not investigate your case if the company isn’t legit. There are any sellers out there that are ready to help you! Just be careful. Any timeshare reseller guaranteeing to sell your timeshare is most likely after your money. So, due your research and don’t just take their word for it.
Don’t be deceived by high fees. Timeshare exits are expensive and can cost thousands of dollars. There are certain aspects to an exit program which are critical. Make sure they have a license from a regulatory agency, like the Department of Financial Regulation.. They must have a verifiable credit program. This means if they cannot pull your credit or provide details of your specific credit needs they are not going to provide you any credit help. Next make sure they have a real solution to the debt and any debt collectors. This must be more than sending out cease and desist letters. You want to make sure they have experience in debt collection laws and can explain your situation. The exit company must terminate the debt with the timeshare company. If not you may be talking to a scam or unreliable firm. A verifiable approach is if they have a partnership with a credit management company who specializes in timeshare account removal like, USA Credit Counselor.
The next red flag is high-pressure sales tactics. While timeshare salespeople can be helpful and friendly, they might not be truthful or honest. You should ask for a copy the contract. Even if you believe the timeshare salesperson is lying, it is better to get legal advice. If the timeshare contract is too complicated, you can ask a timeshare lawyer for assistance. You can avoid regretting buying a timeshare.
Third, avoid cold-calling. Even though timeshare laws don’t prohibit cold-calling explicitly, it can be a sign that you are being scammed. Cold-calling agents will most likely have your details obtained from a “sucker” list.
Do not fall for the high-pressure sales tactics used by timeshare resellers. Scammers are likely to use high-pressure sales tactics to convince you to sign a resale contract. You should also avoid companies that promise to sell your timeshare and not have a brokers license.
Third, be careful not to use dishonest marketing. The timeshare industry is full of dishonest companies that try to lure customers by offering a guaranteed sale of your timeshare. These companies will often demand large upfront payments and never had a buyer in the first place.
A good start to selling your timeshare is using free sources. Sell Rent Timeshare allows listing of timeshares for free and no brokers fees if your timeshare sells. The only fee is if you want something extra in marketing or add placement. There are no hidden fees. In fact, there are only two websites we would recommend for listing your timeshare. Sell Rent Timeshare and Free Timeshare Listings