The Truth About Paying Upfront Fees to Sell Timeshares
Wednesday, June 27, 2007
I know you’ve heard it before, the admonishment that one should, “Never pay upfront fees when trying to sell timeshare.” Unfortunately, this advice always comes from people who work in timeshare resales businesses that are based on being able to extract money from timeshare sellers through one add-on fee after another before ultimately hitting the timeshare owner up for a hefty commission when, and if, they ever sell the timeshare unit.
Dollar by painful dollar, some timeshare resales companies, (and some unethical timeshare brokers) charge timeshare owners fees for services the owners do not really need. Property appraisals are a perfect example of an unnecessary service used to generate an add-on and unnecessary fee. Under most circumstances, resale timeshares simply do not need a property appraisal.
When you buy residential real estate, you pay for an appraisal, typically because the mortgage lender requires you to do so. When you buy a resale timeshare, there is no need for an appraisal, unless the timeshare unit itself collateralizes a loan (very rare with resales) and the lending company requires the appraisal as a condition of the loan.
Yet over and over again, you hear warnings directed to people with timeshares they wish to sell, to never pay an upfront fee to sell, advertise, list, or market their timeshare. The warning should be, “never pay an upfront fee unless you know specifically what the fee covers and that the company to whom you pay it has a proven track record of helping timeshare sellers successfully connect with timeshare buyers.
If you have timeshare you want to sell, visit the website of Sell My Timeshare NOW. Read the information offered there to help you understand more about your options for selling timeshare. No one answer is right for every situation, but I can tell you that Sell My Timeshare NOW averages six hundred thousand dollars per day, in offers made to timeshare owners who are trying to sell or rent their timeshares. Obviously, sometimes, paying an upfront fee for the right services is a pretty good idea.