Timeshares are incredibly expensive when you consider the costs and financial implications of keeping one. This has led to a countless number of people into bad credit situations. Knowing how to get out of a timeshare legally is one thing; knowing the right time to sell is another. Here, we explore tips on knowing the right time to sell your timeshare:
- Immediately your honeymoon is over: Probably, buying a timeshare contract was the only way you and your partner could enjoy that vacation destination; fine and good. Now that the honeymoon or vacation is over, it is probably the best time to sell the contract and get out early with only a minimum loss at worse, or even a marginal profit.
- When vacation season approaches: Because there are others out there looking for timeshare contracts during the general vacation seasons, it is a bit easier to sell your contract and recover some money. Typically, you should expect to get back around 30% to 50% of your original price after the sales. This is how to get out of a timeshare without going through a stressful process.
- When you have access to a company that deals in timeshare resales: Although you might not have planned to sell the contract, it is best to sell it once you find a suitable company that can sell the contract on your behalf. You know why? You might just be saving yourself a great amount of stress and money which could have been lost if you had to sell the contract by yourself.
- When you notice the maintenance bills increasing: This option is only advisable if in the first place you have enough financial power to keep the property for a reasonable time. But once you notice that the maintenance fees are increasing, it is best to sell off or explore other legal methods on how to get out of a timeshare contract. Huge bills will further dent your pocket, especially if you had no prior agreement to get a discount when you pay for repairs and maintenance.
Although you can sell your contract any time to someone else, always remember that the best time to sell a timeshare is before you buy it –I mean, you do not have to buy a timeshare in the first place. There are other better options available for renting a vacation home when you need it.