There’s no need to fear if you wish to get out of your timeshare. Instead, use one of these five methods can help you to get rid of the Pueblo Bonito timeshare. Regrettably, situations might change at any time. Perhaps you’ve developed health problems, or the timing is no longer convenient, or you simply can’t afford the rising annual maintenance payments.
1) Sell the Timeshare Contract
While resort operators do not make it easy to sell or transfer your timeshare, there is a thriving resale market. However, because supply (the number of individuals trying to sell their timeshares) far outnumbers demand (the number of people looking to buy timeshares), you must be realistic when setting a price.
A secondary timeshare market can be found on several websites. Some people use sites like eBay, Craigslist, and Facebook to sell their stock as part of their exit strategy.
2) Sell Your Timeshare Through A Broker
If selling it yourself seems too daunting, or if you’ve already tried and failed, some companies can assist you to sell your timeshare for a charge.
Remember that you are buying and selling real estate, especially if you have a deeded timeshare. While there is less paperwork than selling a house, you will still need to complete the necessary contracts, signatures, and closing procedures.
In exchange for a commission on the final sales price, there are timeshare real estate brokers who may assist you with the transaction.
While there are many reputable brokers and firms out there, you should be aware that there are also fraudsters out there attempting to take advantage of you. Before doing business with a company, always do your homework.
3) Give or Sell Your Timeshare Back to the Resort
Check your contract to see if there’s a clause that allows you to sell your timeshare to the timeshare business for a set price. This is extremely uncommon, but you might be one of the lucky few. While you will most certainly lose a significant amount of money compared to what you paid initially, you will avoid the ongoing annual fees and maintenance expenditures.
While most resorts will not buy it back, others provide a scheme where you can return your timeshare for free. With the average cost of a new timeshare standing about $22,000, giving it up for free may appear to be a dreadful waste of money.
However, if you are unable to use your timeshare and do not have the financial means to continue paying the annual dues, this may be your best alternative.
4) Give Your Timeshare Away for Free
If you are unable to sell or reach an agreement with the resort, you can still give your timeshare away for free or sell it for a small fee.
You can give your timeshare away using many of the same platforms that you used to sell it. If you look at the recently sold timeshare listings on eBay, for example, you’ll notice that most of them sold for less than $100, and many of them sold for less than $50.
5) Rent Out Your Timeshare
When you’re trying to figure out how to get out of a timeshare, one last possibility is to rent out your annual resort stay. This won’t get you out of it, but it might be enough to cover the annual maintenance expenses or even make a profit!
