| Owning a timeshare is a pretty common thing today. | | | | ambiguity in this matter. As far as possible, go for an |
| And sometimes one feels the need to sell it off. With | | | | agent who charges his commission after the deal is |
| the ever-increasing demand for timeshares, selling | | | | closed. If you have to pay him in advance, take a |
| one is not much of a problem. In fact, it can be sold | | | | proper receipt. Ask them about their refund policies in |
| like any other real estate one owns. | | | | case the deal does not go through for some reason. |
| If you can find a customer directly, nothing like it. But | | | | Once you have decided to sell, sell at the best |
| if you need the services of a middleman, and a | | | | available price. Don't wait to recoup your cost price, |
| company approaches you, you must be inquisitive! Be | | | | especially if you have held the timeshare for less than |
| careful not to agree to anything on the telephone, no | | | | 4-5 years. If the timeshare is in a location that is not |
| matter how good and convincing it may sound. You | | | | very popular, the prices may actually have gone |
| should contact the Better Business Bureau or any | | | | down. If you are not sure about the value to be |
| such other agency in the state where the company | | | | expected, take the services of a licensed appraiser in |
| is located and find out if any complaint has been | | | | the place where the timeshare is located. |
| lodged against them. | | | | Go through the terms of the contract very carefully. |
| Get all assurances and promises in writing. Deal only | | | | Consult a lawyer if necessary. The contract must |
| with licensed real estate agents. Don't hesitate to ask | | | | contain explicitly clauses regarding whether it prohibits |
| to see their license and even to confirm with the | | | | you from trying to sell or hire the timeshare while the |
| Real Estate Commission. | | | | contract is on. |
| Ask the agent if he can provide references of | | | | When buying a timeshare that is for resale, the same |
| customers for whom he has closed deals. Then go | | | | care must be taken. Make sure to deal with a |
| right ahead and call some of them to be sure. | | | | reputed broker. Ensure that all taxes payable on the |
| Ask them for the time frame they have in mind for | | | | property have been duly paid. Check out the |
| selling off your timeshare. Ask them how they | | | | affiliation, as this is likely to affect its resale price |
| propose to find a customer, viz. whether by | | | | should you need to resell it. If the reseller is still |
| advertising in newspapers or some other means. Tell | | | | repaying the loan taken for the timeshare, work out |
| them you'd like to be constantly updated on the | | | | how and by whom future liabilities are to be paid. |
| progress made by them in the matter. | | | | If you have the slightest of doubts, just stop further |
| Then get clear with them as to their fees. There | | | | negotiations and start looking for another timeshare |
| should be no hidden charges. Nor should there be any | | | | or another agent! |