The Center For Debt Management
Debt Relief

Debt Consultation

Debt Settlement

Debt Consolidation

Debt Management

Credit Counseling

Filing Bankruptcy

Budget Software

Tax Debt Relief

Student Debt

Business Debt

Stop Foreclosure

Credit Report

Legal Resources

Credit and Financing

Financial Resources

Income Resources

US Tax Center

Insurance Center

Financial Library

Financial Bookstore

If You Have Found Our Site Helpful Bookmark Us Now And Be Sure To Come Back Often!

If You Have Your Own Website, We Would Appreciate You Linking To Our Website.


Timeshare Resales

If you own a vacation timeshare — the use of a vacation home for a limited, pre-planned time — be cautious about people offering to help you resell it for a fee. Most of these sales programs are bogus. The market for resales is poor. One recent survey found that only 3.3 percent of owners reported reselling their timeshares during the last 20 years. Still, desperate to sell, many owners have been taken in by timeshare resale scams.

The Resale Scam

Unscrupulous companies may contact you by phone or mail. Salespeople are likely to tell you the market for resales is "hot" and that their company has a high success rate in reselling units. They may claim to have extensive lists of sales agents and potential buyers. For an advance "listing" fee, often $300 to $500, some salespeople promise to sell your timeshare for a price equal to or greater than your purchase price. To further entice you, they may offer a money-back guarantee or a $1,000 government bond if they can't sell your timeshare within a year. Others offer to purchase your timeshare for 80-90 percent of its appraised value if they don't sell it within a specified time.

In reality, the market for resales may vary considerably, depending on the location and time of year. The lists of sales agents and buyers may consist of people who have never heard of the company or have no interest in buying a timeshare. It may be unlikely that the company can sell the timeshare at all, let alone at a price equal to or greater than your original purchase price. In addition, many consumers whose timeshares don't sell after a year may be presented with a government bond worth only $60 or $70 or told there's no refund on their listing fee.

If You Want to Sell

If you want to resell your timeshare and are approached by a company offering to help, consider taking these precautions:

  • Don't agree to anything over the phone until you've had a chance to check out the company.

  • Ask the salesperson to send you written materials.

  • Find out where the company is located and where it does business.

  • Contact the Better Business Bureau, state Attorney General, and local consumer protection agencies in the state where the company is located. Ask whether complaints have been lodged against the company.

  • Ask if the company's salespeople are licensed to sell real estate by the state where your timeshare is located. If so, verify this with the state licensing board.

  • Be wary of companies charging an advance "listing" fee for services. Consider opting for a company that offers to sell for a fee only after the timeshare is sold.

You have several other resale options. You may try selling your timeshare yourself, by placing an ad in a newspaper or magazine, or contacting a real estate agent familiar with the area. If all the timeshares have been sold in your development, consider asking the seller to establish an on-site resales office. As an alternative, you may consider an exchange program. For a fee, these programs allow you to arrange trades with other resort units in different locations.

Deep In Debt?  —  Call 1800 DEBT.COM  —  Get Help Today!

Over 2,000 Pages of Content
Center For Debt Management

Center For Debt Management

The Center For Debt Management

Helping Consumers Save Money and Reduce Debt Is Our Only Business!

We invite you to explore the sectors listed below. We promise that you'll find exceptional values, offers and resources to reduce your living expenses and to enjoy life! But First—if you're over-your-head in debt—get a free no-obligation debt consultation right now!

Debt Management and Financial Services! The Internet's oldest and most comprehensive debt management agency! Resources for debt management, consumer credit counseling, debt consolidation loans, debt settlements, legal aid, financial aid, credit and financing, credit reports, budget software, insurance, income resources, tax assistance and more. Get out of Debt! Call Now — 1800DEBT.COM

Established In 1989 and Serving The Online Community Since 1992!

Get Out Of Debt: Call

Center For Debt Management