How can you make “little” money out of a time share property sale?

If you are trying to make money out of a “perceived investment” such as time share property, think again! Do not have illusions of grandeurs with your resort property or you are bound to be frustrated.

Sounds like time share property is a terrible investment? Yes. In the first place, time share property should not be looked at as an investment. This is the wisest advice you could ever get while engaging yourself into the time share industry. Time shares are meant to be used and enjoyed by the owners.

Time share is more than just a property. It is buying your vacation in advance. However, time share is not for everyone. If you are the type of person who works all day, does not have time to stop and relax, always on the go and is not much of an advance planner then this might not work out for you.

But if you are really interested in buying a time share, here are some facts to guide you in the period of owning the property:

1. As mentioned earlier, time share is a terrible investment. Once you bought a property in a time share program, do not raise your hopes too high because it is not a “money back guarantee” investment. Expect only 30-50% return of what you actually pay. Anyway, maintaining it costs you even more than what you paid and getting rid of it is like getting rid of more of the additional charges like yearly maintenance fees and taxes.

2. Do not be fooled by agents claiming that they can sell your time share in a very absurd high price once you have enough it. As said, time shares should not be treated as an investment because of the very little return of investment. Rather, just enjoy it while it lasts. You can even donate it if you want to just unburden yourself of the additional charges and benefit from the deduction of federal tax of its fair market value.

3. If you are buying a time share, pay it with outright cash. Do not even think of applying for a loan at a bank because usually, banks are unwilling to approve loan for buying time shares and developers would get the gap in the loan by charging you with very high interest rates as high as 16%.

4. Trading of time shares or exchange programs is possible and a network of time-share owners will help you on this. You can swap your time share vacations with other time share owner in different places. After all this is what time share property is all about, a chance to travel around the globe

5. On a positive note, time shares are providing you opportunities and options for a vacation with your family. Rather than paying for hotel accommodation in a known resort and eating at restaurants with bills less than palatable, time share properties gives you the option to enjoy breathtaking scenery, enjoy the amenities like the use of swimming pool, tennis courts and others at a much lesser price. And you can even do that every year in a specific time of your choice.

After enjoying immensely in one resort for years, you can now sell, exchange or let others rent your property. Again, do not raise your hopes too much on this. Unless your property location is within the premises of a named resort and you have a peak (red) season option in your time share that is the only time you can expect a little higher return of your money back. If you want your time share property sold, here are some tips for a successful sale:

1. Always maintain a realistic stance in selling your time share. Accept the fact that you will get only 30-50% of your money spent during the time you bought it. Just think that you are better off without the property than paying the maintenance fee on and on for years of not use.

2. When you sell, always think how the buyers think. The only thing that is on their minds is the price. If you put your price at the rock bottom among the many time share sellers, you are most likely to get more offers from buyers. Be the one that they will pick.

3. Selling your time share property is a real saving. Keep that in mind.

4. Do not let anyone dictate you of what price you should put on your property.

5. If you want to put everything on its proper place, be sure to let a professional company, licensed to handle the closing of the sale.

Be reminded of all the facts and tips for a successful sale and you will never go wrong in the arena of time share property.

Copyright 2006 Jim Sterling - All Rights Reserved

Timeshare Resale Secrets Revealed

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