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OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®

Daily Real Estate News  |  August 25, 2009  |   Strategies for Getting Out of a Timeshare
Timeshares are among the most difficult real estate to resell. In this economic climate, buyers are rare and management companies will refuse to take the unit back and even threaten debt collection if an owner fails to pay maintenance and management charges.

Here are some suggestions from Lisa Ann Shrier at TimeShareInsights.com
for getting out from under an unwanted timeshare:
  • Most property managers won’t buy back the unit or even take it off an owners’ hands without paying anything, but it’s worth asking.
  • Avoid sales agencies that charge an upfront fee to sell a timeshare. Chances are these deals are going nowhere.
  • Advertise the property widely and expect to get no more than 35 cents on the dollar.
  • Look for a charity that will take the property as a donation.
  • Consider renting the property.

Source: Tribune Media Services, Ed Perkins (08/24/2009)

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