What To Do With Your Timeshare?
What to do with your timeshare?
Oct 21, 2015
If you are reading this, then you are, just like 8 million Americans, own a timeshare. While timeshares allow us to have great vacations, they become a burden at times when we can't take a vacation and use it. This issue becomes very concerning to owners especially around this time of the year, when the next year’s maintenance bills are about to be delivered to our mailboxes.
Exchanging to different resorts, let's face the truth, does not always work, especially when you are trying to exchange to prime weeks and high demand destinations. So, we basically have two choices left: rent it out or sell it. The right choice depends on your personal situation. If you are not planning to use it for the upcoming years then sell it; otherwise, rent it out.
If you chose to sell your timeshare, we all know that it is not easy to sell a timeshare. Therefore, there is a third option: rent it out while you are selling it. When selling your timeshare, beware of timeshare scammers. If the offer looks too good to be true, then run and look somewhere else. Also, be aware of companies offering to donate your timeshare. Many of them will not properly transfer your timeshare and, as a result, you will end up being responsible for all maintenance charges that accrued from the day you “donated” it. Finally, make sure to use a reputable closing company when selling timeshares. This will guarantee that the transaction is properly handled and recorded, hence, the ownership is properly transferred.