I Just Inherited A Timeshare. What Should I Do With It?
That depends on you! Are you in a position that you would be able to vacation each year? Can you plan your vacations at least six months in advance? Can you afford the annual maintenance fee?
If you answered “yes” to all the questions above the answer is – keep the timeshare. If you decide to keep the timeshare you should also decide if you like the timeshare’s location and would be willing to vacation there each year. If not, you would need to decide whether or not you can afford being a member of an exchange company, that, for a fee, will exchange you week for another in a different location. You should also learn how to make best use any exchange program or points exchange program available to you as a timeshare owner. Banking your week as far in advance as possible preserves the value of the week you bank. Banking it later diminishes its value. Getting what you want in exchange for your banked week hinges on several criteria.
First you should make your request as far in advance as possible. Six months is okay, but nine months in advance is better. Your choice of destination should be varied so that the exchange company has more ways to fill your request. Your desired check in date should also be as flexible as possible. Try to make your request so that several different check in dates will work.
All these tips should help you be more successful in exchanging your timeshare week.
If you have decided NOT to keep the timeshare you have a few options.
You can donate your timeshare. Just be careful that the recipient knows what comes with timeshare ownership: annual maintenance fees!
You can sell your timeshare. Selling your timeshare can be done several ways. Research has shown that using a timeshare realtor or broker is the proven way to get your timeshare sold, closed, deed transferred, etc, etc. There are even places you can advertise your timeshare for sale where timeshare realtors and brokers network with each other to see timeshare inventory. One such place is RPMLS.com. At RPMLS.com they have several options for you the timeshare seller. You can sell it yourself and pay no commissions, or you can use a timeshare broker’s assistance and pay a commission.
Which ever way you dispose of your timeshare remember the cost of selling it will always be far less than paying annual maintenance fees into eternity.
Just do the math. It is worth is to get the timeshare sold and get it done right the first time.