Time shares seem like a great idea. For a relatively low price and without needing great credit, a person can lock in a vacation property for a specific number of days or weeks per year. While the vacation location may appear perfect, things often change over time. The property itself may begin to become rundown, the owner may become bored of the property or the owner may simply no longer have the time to use the property. No matter what the reason, most people who buy a time share will end up wanting to get rid of the property. Though selling a time share can be tough, there are a number of different ways to rid of the property.
Give It Back
In some cases, a resort will agree to take ownership of a property that was already sold. Whether or not the property will do this will vary from one property to another. Resorts that are fully sold, or close to fully sold, are the ones most likely to accept the return of a property. However, there is no harm in talking to a property manager to see if it is an option. In very rare circumstances, a resort may offer to sell the property for the owner on a commission basis.
Direct Sale
Another way to get rid of a time share is to sell it to others who already own properties in the development. Those who enjoy the resort may want to bring family and friends with them or simply want more time. A person who is looking to sell can talk to those at the property, list the property in local newspapers and utilize online classified websites to find a local buyer.
Brokers
There are many companies that help people to sell their unwanted time share properties. These companies typically charge fees to both the buyer and seller. In most cases, an owner can expect to lose money on the sale of a property when using a broker. However, for those looking for a fast and easy way to get rid of a property, using a broker may be the best choice.
Donation
There are some charities that will accept the donation of virtually anything of value, including vacation property access. However, there are many scammers in the business who are little more than resellers who charge owners a lot of money to get out the property. Before donating a property to a charity, an owner needs to check with his or her state’s Attorney General’s office to make certain that the charity is legitimate.
Rent It
While it is typically quite difficult to sell a share in a rental property, it is often quite simple to rent it out to another party. There are many legitimate websites and realtors that can help owners to rent the property. The money made from the rental can help to cover the annual fees and other costs of ownership even if it may not result in a profit. Some properties have strict rules on renting. Property owners will want to examine the language in their ownership contract to make certain renting is allowed. Those who do rent their property may want to make the renters aware that the property is for sale.