If you’re a timeshare owner wondering, “Is it a good time to sell my timeshare now that the COVID-19 Pandemic is winding down,” Timeshares Only is here with everything you need to know. While the World Health Organization (WHO) still calls COVID a pandemic, they have ended their public health emergency. The timeshare industry is back in full swing, and people are more eager than ever to start traveling again. Thus, if you’re a timeshare owner looking to sell your timeshare, now is a great time to do it. Whether you just don’t use your timeshare like you used to or you’re having trouble affording your maintenance fees, Timeshares Only can help. As ARDA’s recommended resale marketplace, with 30 years of success and an A+ rating by the BBB, Timeshares Only has the credentials and experience you need to confidently advertise your timeshare on the resale market.
Selling My Timeshare Now
If you’re wondering, “Should I sell my timeshare now,” the answer is it depends. But if you’re sure you want to sell, now is a good time for selling timeshares. Demand for timeshare properties is rising, with the market size is projected to reach USD 29450.88 Million by 2028. That’s a growth rate of 7.28%. As the COVID-19 Pandemic continues to subside, people are more eager than ever to travel. In fact, 40% of Americans plan to travel more in 2024 than in 2023. And considering that Gen Z and Millennials now make up half of the timeshare sales market, these lifetime products are showing every sign of remaining popular far into the future. Finally, it should be noted that as the resale market grows in size and becomes more strictly regulated, timeshare resales are becoming an increasingly popular way to buy.
Of course, whether or not it’s a good idea to sell your timeshare now really depends on your needs. Every timeshare owner is unique and has different motivations for selling. We recommend thinking about what is motivating you. Have you not used it in recent years? Are your maintenance fees becoming too much? Maybe you want to experience new vacation destinations (we recommend vacation exchange). Not to worry though—we’ve come up with some of our best tips to help owners decide, “Should I sell my timeshare now?” Afterward, we’ll dive into the process of how to sell your timeshare when you are ready.
Review your Options Before You Sell
Perhaps you feel like you’ve seen it all already and are tired of visiting the same resorts with your points. If you haven’t already joined a vacation exchange program, you are missing out on thousands of other travel opportunities available to you as a timeshare owner. Trading platforms such as RCI or Interval International give owners the ability to trade their weeks or points for other brands and resorts around the world.
Timeshare Rental: Rent Your Timeshare With Timeshares Only
Many timeshare owners don’t realize they can rent their timeshare. If you love your ownership but need help paying maintenance fees or can’t plan a trip for a while, you can rent your timeshare and put the money you get toward those fees. And, if you’re current on your fees, you can always just save the extra money for a rainy day. In recent years, timeshare rentals have become popular among competitors. Not to mention, renting your timeshare to a family member can be a great gift until you decide to sell. As ARDA’s Recommended Resale Marketplace, Timeshares Only has thousands of visitors searching our site every month, and we can get your timeshare seen by interested renters from around the world.
Rent out your timeshare with Timeshares Only!
How to Sell Your Timeshare Now—Safely and Legally
During the pandemic especially, unscrupulous exit and cancellation companies preyed upon owners who were looking for a way out of their timeshare. You probably heard their ads over the radio or saw commercials on television. Other common timeshare resale scams include unsolicited phone calls, as well as shell companies with a “motivated buyer.”
Red Flags to Look Out For
It is possible to sell your timeshare now, especially with the right help. Tighter regulations have made the resale market safer than ever. However, there are still a few warning signs you should look out for. These include:
- Companies that tell you to stop paying your maintenance fees or mortgage. If you are trying to sell your timeshare now, stopping payments will interfere with the closing process should you find a buyer. If you stop paying your maintenance fees, you will default on your ownership, and it will stay on your credit report forever.
- Timeshare exit or cancellation. The truth is, there is no simple way to just “get out” of your timeshare. Owning a timeshare is much like owning a house—you can’t just cancel your home ownership. Unlike a house, however, the resale value of timeshare units rarely appreciates. Companies that claim they can get you out of your timeshare by canceling or exiting normally charge thousands of dollars upfront. The reason so many people have been okay with paying is because they also offer a “money-back guarantee” if they are unsuccessful. However, many owners have not been able to get refunds successfully. In fact, some timeshare exit companies are under close scrutiny in Washington from the State Attorney General.
- Unsolicited phone calls. If a company reaches out to you without your permission, be wary. It is illegal for a timeshare resale company to contact you unsolicited. If you get one of these cold calls from a company that claims they have a motivated buyer, it is likely a scam. A legitimate timeshare resale company will never contact you without your permission.
Call Your Developer Before Selling
When an owner calls and says, “I want to sell my timeshare now,” our first question is always, “Did you call the developer?” Did you know major timeshare brands have in-house exit solutions for owners? The American Resort Development Association created an entire coalition that supports these programs and others like it. Developers understand that things change and are available to help their owners find the best way out. With all of the timeshare exit teams and scams out there, we recommend contacting your developer first. Companies like Wyndham Destinations have in-house teams designed to refer owners to the best-selling solutions.
How Can I Sell My Timeshare Now?
There are a few legitimate timeshare resale companies out there. At Timeshares Only, we pride ourselves on offering legitimate solutions to sellers on the resale market. We are members of ARDA and have been in business for 30 years. To get started selling your timeshare now, we can help you post it online.
We work hard to market your timeshare to the right people. Not to mention, we have industry partners that work with us to find sellers more solutions each year. If you’re ready to sell your timeshare now, contact us at [email protected] or give us a call at 1-800-610-2734
Once you agree to our services, we’ll create an online advertisement for your timeshare for sale. Thousands of vacationers who are looking for timeshares like yours access our resale marketplace. When an offer comes in, we recommend using Fidelity Real Estate to close the deal. As a fully licensed real estate brokerage, they can take you through the whole sale process once you find a buyer. Or, you can close the deal by yourself.
