A timeshare can be a great investment when you know that you want to travel every year and have the time to do so. There are a number of reasons you might be looking to exit your timeshare, and this is a process that can be difficult when you aren't sure what you are doing. Whether you no longer need a timeshare because your children are adults and you aren't taking family vacations, or you inherit a timeshare that you don't want, you have timeshare exit options to consider. You can work with a timeshare selling consultant to talk about the ways you can give up your timeshare and remove yourself from the responsibilities of ownership.
Selling Your Timeshare Back to the Resort
In some cases, you may be able to sell your timeshare back to the resort you originally purchased it from. If you have a fixed week timeshare at a location that is popular, it might be easy to sell your timeshare back to the resort. If you have a timeshare during a week that most people are not interested in, the resort may not be willing to buy the timeshare back.
Finding a Private Buyer
Exiting your timeshare can be done by selling your timeshare to a private buyer. Unfortunately, you are not going to get the money back for your timeshare that you invested in the property. When pricing your timeshare, you will need to set a price that makes your offer attractive to potential buyers. Pricing is going to vary depending on how old the resort is and how flexible the timeshare is. You can expect roughly 30% of your original purchase price to exit a timeshare, sometimes even less.
Renting Out Your Timeshare
If you are looking for a timeshare exit strategy, you can rent out your timeshare in the meantime. While this won't be your final resolution, you can recover some of your losses if you are able to rent out your timeshare during your allotted weeks.
Work With an Exit Strategist
To avoid yearly fees, some timeshare owners take the drastic step of filing for bankruptcy and giving up their timeshare. When you don't want to ruin your credit but you no longer want to be the owner of a timeshare, it's time to work with an exit strategist that can help. It will cost you some money to unload your timeshare, but the long-term benefits are worth the cost.