I own a timeshare at South Lake Tahoe, Tahoe Beach & Ski Club, Studio, Swing Season, 1 week per year. Assessment fees approximately 5. per year, property taxes approximately .00 per year. Purchased in July 1990, paid over ,000, now you can’t even give them away, why is that?
It’s good to market your property in many places. I personally have had success using Sellmytimesharenow.com and recommend checking them out. Some free/cheap places to try as well are craigslist.org and ebay.com. When you are selling your timeshare make sure you depreciate it from your original purchase price (if you bought it from the resort). Most timeshares depreciate AT LEAST 30%. When deciding on a company be sure to ask for: Offer reports, traffic stats and any guarantees they offer. Also you should check the company with the BBB.
You might have to just "sell it" each year….My parents have a timeshare…and they do use it sometimes…but when they dont…they ask people at work and stuff…and just charge them….so its still in their name…but other people use it. Good luck!
Well timeshares have always been a non investment. Example:
I want to own a week in Florida say week 22.
I check for new construction timeshares (I will be getting the most expensive price if I do) Say week is $13,000. And the builder is willing to arrange a mortgage. my payment could be as low as a couple of hundred a month. Plus maintence once a year.
Then I check on a resale web site and find out either I can get a week 22 at say $3500 one time and a 500 maintence fee annually but it’s at an older complex or I find a lower priced unit on another week at another unit.
People have this mental problem that used is no good it has to be new. This works with most things but not with timeshares but they beleive it anyway.
Additionally the new condo’s use marketing agencies and offer free vacation packages you just can’t compete.
You bought access to a vacation destination not invested in a property thats ever going to make a profit for you.
Selling a timeshare can be really tough. You will be lucky to sell it for half of what you bought it for. The Timeshare User’s Group (tug2.net) has some information on how to sell a timeshare. I wish you the best. See these websites:
http://www.tug2.net/
http://www.tug2.net/advice/ts-sales.html
http://www.kiplinger.com/magazine/archives/2007/03/timeshare.html
Time Share selling sites:
http://www.redweek.com/
http://www.myresortnetwork.com/
http://www.timesharesonly.com/
my family sold there timeshare thru cheap timeshare assistance, they are not brokers they are a none profit organization who specializes in the selling and renting of timeshares for free – yes for free they don’t charge you to sell your timeshare
http://www.cheaptimeshareassistance.com