Rent to Sell Your Timeshare

This is a great twist on a very long standing real estate method. The concepts are important. You can contact me for details and specifics.

You want to sell your timeshare. Use an option to buy plan to get more rent and sell it, too.

First, separate cheap renters from those truly interested in buying a timeshare. Next, do what the resorts do - give something of value to the potential timeshare buyer. Finally offer to sell the timeshare at a price less than the resort.

Set your fee for rental near your annual fees. This won't attract the low ballers, but it will work with the right renter/buyer. Advertise in places like www.Craigslist.com , local newspapers near your timeshare, local newspapers in VERY large metropolitan areas with people that traditionally go to your resort area, and any other free or very low cost timeshare users groups, www.RedWeek.com, and similar web sites. Make sure you begin advertising several months before the date of your week.

Stress the Rent to Own factor, not the cheap rental. Explain that if they decide to rent a timeshare, visit without the stress of a sales presentation, want more than the 2 or 3 days the resorts give, and finally decide to buy a timeshare, all they have to do is check what the resort is selling for and you'll be willing to sell your timeshare to them a lot less.

Here's a twist. Talk to the resort in advance and ask them what they will give you or your guest if the friend takes a tour. When the potential renter contacts you, tell them you can credit them with up to twice the rental cost if they will take the sales tour on one of their days but they don't have to decide to take that tour until they arrive and see the resort first hand. If they do take the tour, decide to buy a timeshare, complete the contract with the resort, they will have a few days to rescind the contract and get their money back without penalty. Tell them to call you ASAP, fax a copy of the contract to you immediately. You will agree to sell your timeshare to them at a cheaper price. Now, if they are really interested in buying, this will give them the incentive to get their best price and contact you to buy yours instead.

What's the risk to the buyer? NOTHING! All they are doing is using the resort’s deal to get a better deal. Once they send a fax to you of the contract, they have established the purchase price of the option if you have agreed to a $ or % below the resorts best price to them.

If they need to finance the purchase, do a little homework and an Internet search for "Timeshare financing" BEFORE you start the process. If you want to finance the sale, do it. Just make sure title is transferred to them and the promissory note is separate. Consider giving them a bigger discount for whatever cash they can pay and they won’t owe any more.

Who handles the deed transfer? Contact any timeshare title company or call the County Recorder where the timeshare is located.

What you need is a timeshare rental contract. Find a closing company on the Internet. Many will provide rental contracting for a nominal fee. It's worth it to be safe and secure. You will need a simple Option to Purchase separate from the rental contract that says the Renter will have the option to purchase the timeshare within x# days for a specific price (% of resort price or $$$ below the resort price, - any way that makes sense). If you're going to give them credit for their rental fee, include that as well. KISS - less than 1 page. Make sure there is no specific tie between the two contracts other than as mentioned in this example. Don't combine the payment on the two contracts.

The concept here is to find a person interested in buying at your resort, not just cheap renters. Many people would like to try but don't want the high pressure sales approach. This gives them that option.