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How do you choose a timeshare resale company?

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Quick Answer

Ensure the paperwork for a timeshare resale is in order before looking for a suitable resale company, advises the Canadian Resort Development Association. Inquire from multiple resale companies about the methods they adopt to advertise the timeshare, and select a suitable firm from available offers before sealing a contract and putting it in writing. Select a trustworthy firm to avoid resale fraud by taking time to research issues such as the firm’s licensure and nature of operations, recommends Citizens Advice.

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Full Answer

Gain an understanding of the resale company to determine whether it is the right firm to hire by enquiring about its history, background, record of accomplishment, and the staff to handle the timeshare resale. Peruse the contract to gain an understanding of its terms, such as fees payable to the resale company, duration of the contract and the services to expect from the firm. Ensure the resale company holds a real estate license by verifying with the state’s licensing agency, suggests the Canadian Resort Development Association.

Be wary of a resale fraud from a resale company that uses gimmicks such as stating it has a buyer for the given timeshare, pressures the timeshare owner for a quick decision or offers too high a price for a timeshare, cautions Citizens Advice. The sale of the timeshare is unlikely to generate a high return since it is not a property investment.

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