How to Sell a Timeshare Legally Three Points to Consider

It sounds like a deal you can’t refuse. And boy, it seems like such a good idea. But, like many good things in life, the timeshare you’re thinking about purchasing might one day outlive its usefulness. For one reason or another you may want to know how to sell a timeshare legally. Will you need a timeshare lawyer? Here are three things about timeshare sales to consider.

Timeshares Can Be a Scam
Have you ever been on a vacation and when you’re walking through the lobby, someone approaches you and hands you a ticket to a free lunch? Along with the lunch there’s a quick little lecture about some enticing opportunities in the local area. If you don’t know any better, before you know it you might find yourself in a ballroom with other unsuspecting folks, listening to a presentation about timeshare properties available for purchase. This can drag on for quite some time. Being aware of what is being offered before you agree to attend is one way to stave off any problems. Even if they promise you tickets to a theme park, a short cruise or extra nights in a hotel, how much is a timeshare worth? Is your time, peace of mind and most of all your money worth it?

Timeshares Can Exploit the Elderly
Not only can timeshares be a murky source of economic disaster, but also a timeshare presentation can play on vulnerable peoples’ emotions. This is most true among the elderly, who often relocate or are thinking about relocating to a warmer climate. In fact, Florida timeshares account for 25% of all the timeshares in the United States. Many times people in this situation have lost a spouse or are undergoing significant life changes. They may not be in the frame of mind to make an important decision. They may not understand all the complexities right away of the situation. If you know anyone who may be in this category, pay attention and try to keep them informed.

Timeshares Can Be a Legal Quagmire
And then there comes a time when people want to know how to sell a timeshare legally. Why would folks do this? According to Ernst and Young, who conducted an industry study, reclaimed timeshares were comprised of foreclosures by a hefty 56%. Other timeshare homeowners (66%) have claimed that maintenance fees were too high, according to a 2016 survey, and cited this as the reason for wanting to know how to sell a timeshare legally. Proceed with caution.

So, before you find yourself in the situation of trying to find out how to sell a timeshare legally, it may be prudent to do more research, or, if possible, speak with a timeshare attorney. Inform yourself about timeshare companies. Look into how to sell a timeshare legally–and do it before you buy. And remember the phrase ‘caveat emptor’, or ‘buyer beware’. It may actually be enough to spare you from calling timeshare lawyers and having to learn how to sell a timeshare legally.

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