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What’s Your Timeshare Worth on the Resale Market?

What's Your Timeshare Worth

December 3, 2018 – by Primo Management Group

What's Your Timeshare Worth

Do you know what your timeshare worth is? It’s actually a very difficult question. We’ll try to help you break it down.

In 2017, the average timeshare cost was $22,180. So, those same timeshares are currently worth about $22,000, right? LOL. Unfortunately, unlike most real estate investments where the value tends to increase over time, deeded and right to use timeshare worth plummets as soon as the ink on the contract is dry. In fact, timeshares are kind of like cars that way. However, unlike cars, timeshares can be hard to sell. When owners try to resell their timeshare, they are often surprised to find that their timeshare worth is much lower than what they paid. That’s because on the resale market, your timeshare is only worth as much as someone else will pay. So, what factors influence what buyers will pay? Read on to find out.

Location, Location, Location

Like traditional real estate, your timeshare’s worth is closely tied to its location. If your timeshare is in a highly desirable location, like Hawaii or Florida, then you’ll probably see a higher value. Your timeshare worth will also depend on the timeshare company itself. Reputation varies greatly from company to company, and even from resort to resort within a single company. Plus, your unit’s location within the facility also factors into the worth. Do you have views of the ocean or the parking lot? Are you right next to the dumpster? Finally, what week you have matters. Got a holiday week? You’re in luck! Have a lousy week? That’s going to be trickier.

Fees, Fees, Fees

We all know how much timeshare companies love fees. Unfortunately, most consumers are less fond of them. Plus, timeshare owners cite maintenance fees as the number one reason why they want to out of their contracts. When determining your timeshare worth, be sure to take fees into account—especially maintenance fees. If annual maintenance fees exceed what it would cost to rent that unit for a week, that’s going to be a tough sell. And if your HOA has a history of steep maintenance fee increases or high special assessments, that makes your timeshare even less attractive.

Other Factors

Of course, other factors influence timeshare worth as well. For example, does your company have the right of first refusal? And if so, how likely are they to exercise that right? Or does the resort have any current litigation that would affect owners. Does the contract allow owners to rent out unused weeks or participate in exchange programs? That kind of flexibility can be very valuable to a prospective buyer. Of course, amenities like granite counter tops, stainless steel appliances, and awesome layouts are key features. And finally, resort amenities like pools, gyms, and restaurants also play a big part in timeshare worth.

Going Rates

However, even if you have a great location, reasonable fees, a flexible contract and amazing amenities, there are a lot of other people out there who are also selling their timeshares. You’ll be competing with an internet full of sellers. And if another owner is selling a similar unit for less than yours, then you’re likely going to have to lower your price. Or if there are many similar units available, you’ll also need to find a way to differentiate your listing. Some options might be offering seller-paid closing costs or paying maintenance fees in advance. The timeshare resale market is a buyers’ market, so if you were hoping to make a profit on this, you’ll be very disappointed.

Unfortunately, most owners find out that their timeshare worth on the resale market is very, very low. And it’s also very hard to find a buyer at any price. If you can’t sell your timeshare and are ready to get out, we can help. We work with timeshare owners every day and help them exit their timeshare contracts safely, ethically, and forever. Contact us for a free consultation today.

(Image Source: Pixabay)

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Frequently Asked Questions ?

How does PMG get me out of my timeshare contract?

PMG is not a resale, transfer, or donation company. We are consumer advocates—we help to negotiate the release of your timeshare contract obligation. We do not buy, sell, or rent your timeshare. Simply put, we help you to get out of your timeshare contract forever.

How long does the process usually take?

Usually less than 12 months, but it all depends on your situation. If your timeshare is free and clear with no mortgage, then the process may only take 3-9 months.

Speak to your advisor about the time, and what delays the resorts have put into place to prevent timeshare owners from departing their ownership. If you have a mortgage or past due maintenance fee, the process takes more time.

How much is my timeshare worth?

This is probably going to hurt, but whether you paid $5,000 or $50,000 for your timeshare, the IRS values all timeshares as worthless investments. In addition, that timeshare would have negative value due to the annual maintenance fee bill which compounds year after year. That is until PMG helps you cancel your timeshare.

Can I use your service if I still have a balance owed on my mortgage?

Yes. Whether you bought your timeshare 20 days ago or 20 years ago, PMG has a solution for you and is here to help.

Will my name be off the timeshare?

Yes! Permanently! GUARANTEED!

In addition to getting me out of my timeshare, can you recover the money I’ve already spent on mortgage payments and maintenance fees?

While we are able to recover money in rare cases, beware of any timeshare cancellation company that entices you with the promise of fund recovery. The truth is, timeshares are loath to give back the money they’ve already taken.

Are your consumer advocates really “consumer advocates”, or is that just a fancy word for salesperson?

Because most of our clients have had their trust betrayed by timeshare salespeople, we understand how some consumers can become a bit jaded. When you call us for a consultation, that’s exactly what you get, a consultation. At PMG, our job is not to sell you; our job is to help you get out of your timeshare. Which is why we have numerous 5-star reviews and an “A” (excellent) rating from the BCA.

Why should I choose PMG to get me out of my timeshare?

We pride ourselves on providing our customers with the best customer service in the industry. When you contact our company, you speak to a live person, not an automated system or voicemail. We go above and beyond for our customers by helping you to protect your credit and even repair your credit if needed. We offer a 100% money back guarantee, and we can provide documented proof of our success in helping customers just like you.

What happens after I sign up with you? Will I be apprised of your progress?

At PMG, we pride ourselves on our hands-on, boutique-style customer service, so every new client is assigned a case manager whose job is to keep you in the loop throughout the entire cancellation process. Your case manager is always just a phone call away.

How much is your fee?

Not all timeshare experiences are created equal. Some are more complicated than others, and every situation is different. That’s why our trained timeshare elimination consultants will ask you a series of questions designed to determine exactly what needs to be done to terminate your timeshare, how long it will take, and how they can best advocate for you. We will always seek the most cost-effective route for you.

What if I still have more questions?

Canceling a timeshare contract is not a cookie cutter process. With each situation being unique, once you complete the form below an experienced consumer advocate will call you today to discuss your options.