In 2003 while on vacation in Aruba I was offered the opportunity to by a timeshare. At first I was against the idea but as I thought about it I figured it would be a great way to take a holiday. Little did I know it was one of the biggest money traps I had been suckered into. So in this article I’m going show you how I sold my timeshare.
Where You Should Not Sell Your Timeshare
Before I jump into what I did on how to sell my timeshare I want to share with you where you should not sell your timeshare, and that is with timeshare resale companies.
These companies are some of the biggest ripoffs in the industry. In fact when I started looking for a way to sell my timeshare I heard commercial on TV and the radio about these timeshare resale companies and they were claiming they could sell my timeshare fast.
I signed up for 2 of these companies and it cost me a total of $1100 and in the 2 years I was with both of them I had not received on phone call for an offer. So take my advice stay away from these companies like the plague.
How I Sold My Timeshare
Now that we know how you should not sell your timeshare let’s talk about how you should sell your timeshare. To start you could consider looking into eBay, CraigsList, or even putting an ad in your local newspaper, but what I found to be the most effective method is to contact the resort and ask about a buy back option.
The buy back option is an option were you offer to sell the unit back to the resort or a 3rd party company. Now this option will get your timeshare off your hands and you won’t have to deal with maintenance fees every again but their is a big down side you should know about.
The down side to this option is that you will get little in the way of return for what you invest. For example, I paid $4500 for my timeshare in Aruba and end up doing a buy back option and getting back $400. That’s less than 10 cents on the dollar but at least I was rid of it, and if this is how your situation is like, it may be the best way for you to go as well.
Final Thoughts…
As a final thought before I finish be wary of who you try to sell your timeshare with. Before you invest with any resale company make sure you check out the timeshare resale company reviews of that company first. In the end follow my advice and consider the buy back option.
