What to Consider Before Deciding to Sell Timeshares
Posted by: GMAC Real Estate in GMAC Real Estate, General Motors Acceptance Corporation, TimesharesAuthor: Max Suther
While a timeshare makes for a good investment especially if your family goes to generally the same area for your annual vacation, the place does have the tendency to grow old on you. What with your changing tastes and interests, the magic of a once exciting vacation site has already lost its shine. These days it’s all you can do not to announce, “I want to sell my timeshare now”. Your family couldn’t probably agree more to that. However, selling a timeshare isn’t a simple matter of going online and posting an ad saying that your property rights are up for sale. There are a couple of things to consider before you go about putting your timeshare on the market.
Before you start putting up advertisements announcing “sell my timeshare now”, you will want to find out the terms of your ownership. Essentially, there are two popular types of timeshare ownership - a deeded timeshare and a right-to-use timeshare. A deeded timeshare means that you have full ownership of the property for a specific number of weeks in an indefinite number of years. A right-to-use timeshare, on the other hand, has an expiration date attached to it. Basically, you agreed to use the vacation home for a pre-determined period of time. Remember that you are selling rights to use the property and not the property in itself. A right-to-use timeshare’s value decreases as the expiration date closes in. It’s going to be impractical to expect a good investment return if your rights to use the property is about to end. The specific perks that you enjoy with your timeshare, such as flexibility of use and points-based benefits, will also count for a lot when you promote your timeshare.