Clever Strategies for Selling Your Timeshare

Yes, that timeshare looked like your own personal piece of paradise when you purchased it a few years ago. But now it sits unused while bills for maintenance fees and assessments continue to arrive in your mailbox. As the recession continues, more timeshare owners than ever are trying to dump their units, while the number of buyers continues to shrink.

Times like this call for creative sales tactics. Consider these innovative sales strategies:

• Don't forget to advertise. eBay has a robust and well known market for timeshares, but don't forget about other classified sites like Craig's List or Kijiji. Also, consider taking out an ad on a travel site like VRBO. And don't forget about small newspaper ads in the town where your resort is located.
• If you can't sell it, rent it. It can be much easier to fine a taker for a week than to buy out the 20 years left on your contract. Again, be sure to list your unit on multiple Web sites, especially those that have local versions where your resort is located.
• If you can't rent it, donate it. A number of organizations solicit for donations of units. Or, donate a week to your favorite local charity to auction off. You'll still need to pay the maintenance fees, but can deduct the value of the week from your taxes.
• Create your own salesforce. Local taxi drivers, waiters, bellhops and other hospitality workers may be happy to connect you with tourists shopping for a timeshare in exchange for a small cash spiff.
• Ask the resort to resell it. A limited number of resorts offer resale services, so it never hurts to ask. Want to be more aggressive? Find a hungry timeshare salesman and ask them what it would take to mention your unit to prospective buyers.
• Talk it up. Go ahead and use one of your weeks to find the perfect buyer. Talk up how much you enjoy being an owner and the incredible discount you can offer versus the resort's own asking price to everyone you meet by the pool or in the buffet line. Odds are you'll not only enjoy a last hurrah at your unit, but leave with cash in your pocket and no more albatross around your neck.

Sell Your Timeshare
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