Maybe it's the weather, maybe it's the economy, but I am hearing from a lot of people who are thinking about selling their time-shares, asking where to turn. Or course, to me! No, I can't buy your time-share. But, I can tell you how to protect yourself from being ripped off.
Here are some basic guidelines.
DO:
Check your original contract or bill of sale. There may be buy-back provisions from the original marketing company. The rate of return may not be what you can get on the open market, but, you may have an easy solution.
Check with the resort office at your property. They may know of people trying to buy in. Or they may act as your agent.
Check nearby real estate agencies. Not all handle time share re-sales, but, some do. It's worth asking.
List your property yourself.. but, if you do, be prepared to hear from scam artists who'll make wild promises who will demand payment up front, first. Don't do it. I have never ... EVER ... heard a happy ending to a story about those guys. Paying up-front is not how legitimate agencies operate. Legitimate agencies take their commission at the time of the sale.
And here are some other DON'T-s:
DON'T believe anyone who says they have hundreds of potential buyers. They don't. There is not a huge market for time-share re-sales. Ask anyone trying to sell one.
It's okay to pay money to list your property in a book, mass mailing, or any other publication, but, DON'T pay ANYONE a large fee, up-front, because they promise a sale. I don't care what they claim they need the money for; marketing, fees, taxes.. Whatever they call it, I call it a rip off, and money you'll likely never see again. As I said, this is not how legitimate companies operate .. demanding pre-payment.
If everything fails, and you can't sell your time-share, you might think about giving it to charity. Seriously, there are many good causes which could auction it off at their next event, bringing in big money for them, and possibly giving you a tax deduction, not to mention a great feeling. It might not be the same warmth you feel on the beach near your property.. but, it may be better... Because it'll be in your heart.