Posted on Feb 26, 2010 under Time Share |
My friend has been trying to sell her Time Share unit located in Kill Devil Hills, N.C. I’m trying to help her with this but am not sure where to advertise. Can someone suggest the best place to advertise where it would get looks and perhaps a buyer? Thanks for viewing my question.
To resale or rent a timeshare is a hard task, the basic rule is not to pay money up-front, don’t be another victim of a scam. There are some free classified adds where you can post it and get some results:
http://timeshareownerscommunity.com/
http://tug2.net/
http://craigslist.com
http://ebay.com
http://recycler.com/
http://usfreeads.com/
http://www.inetgiant.com/
If you just want to get rid of it and you don’t care about money, you may be able to donate at
www.donateforacause.org
Posted on Feb 23, 2010 under Time Share |
If you purchase a time share and wish to sell it and the only way to do this is to sell it at a loss or give it away, can you claim what you originally paid for the time share, which is deeded, as a loss on Schedule D. The deed has been registered in the state in which the Time Share is located. We have used the time share for our own use, and have not rented it.
Any profit on the sale of your timeshare is taxable. If you sell at a loss, the loss is normally not deductible.
Profit on sale is treated as capital gain, subject to favorable tax rates if owned for more than one year. For gain purposes, your cost is generally your original cost, plus additions for the following items: (1) closing costs incurred when you purchased your timeshare, (2) the portion of your annual maintenance fee (for all years owned) allocated to capital reserves or used specifically for capital improvements (such as a new roof), and (3) any special assessments for capital improvement purposes which you paid. This amount should be reduced by any depreciation expense in years you rented the timeshare.
If you (and/or relatives or friends) use the timeshare, exchange it or let it go unused, a loss on sale will be personal and not deductible, just as a loss on the sale of your home or your car would not be deductible. Even though your intent might be to hold it as an investment, your personal use results in no tax loss being allowed upon sale.
Posted on Feb 21, 2010 under Time Share Resales |
So you’re selling timeshares. But how well do you do it? Timeshares have evolved over the years, making them very popular with vacation goers, frequent travelers and those looking to own a piece of resort paradise. That means if you choose to sell timeshares today, expect to be in the company of tough competitors. You need to do all you can to get noticed, stand out, become preferred by potential clients and actually sell. Here are tips on how to be the best salesperson in timeshare:
Be in the right timeshare company.
The timeshare company you work with will have a huge impact on how well you will be able to share timeshares. This industry has increased in popularity over the years, which has made it an unfortunate target of scams and sneaky dealers.
If you want to be the best salesperson there is in timeshare, find the right company to work with. The most reputable companies will benefit you in more ways than one. Being affiliated with them makes you a more trustworthy salesperson to potential buyers. And if you have a high level of reliability, you’re more likely to sell quickly.
Get the right kind of exposure for your product.
This is another reason why you need to be working with the right timeshare company. A good, reliable company will help you get sufficient exposure for your timeshare. If the company is reliable, it’s likely to be popular with consumers and potential buyers. That should help you find the right market segment for your timeshare.
Make sure to check out the timeshare company you’re considering. Find out how they fare in terms of popularity with the market and what type of buyers they attract. If it matches your requirements, then that’s where you ought to sell from.
Have good timing.
If you’re looking to make a profit in selling timeshares, know that in most cases, that’s more the exception rather than the rule. So make sure you maximize your opportunity by selling when demand is high. Never try to sell a timeshare in the off-season, unless it’s absolutely necessary and you’re desperate.
Sell the right stuff.
Don’t shake off your maintenance responsibilities on your timeshare property. One of the best ways you can make it desirable is to keep it clean and well-maintained. If you haven’t been keeping up, it’s high time that you do. You can’t be the best salesperson in timeshare if what you’re selling is unwanted or unappealing.
Understand your market.
Just as not everybody will buy a Tommy Hilfiger shirt, not everyone you market to will be interested in buying a timeshare. If you want to be the best salesperson in timeshare, make sure you understand the kind of appeal your product has to the market. What type of demographics will your timeshare attract? Who are these buyers and what types of purchases do they prefer?
Make your prices competitive.
It’s a sad but true fact that once you decide to sell your timeshare, you cannot realistically expect it to sell at a higher price than what you bought it for. In some cases, your timeshare could get you as low as 50% of the original price you bought it for. But that’s to be expected because that’s how this industry goes. So when it’s time to sell, make sure that your prices are competitive and aggressive enough to attract the right buyers.
Do research.
You might want to perform a background check on how well your timeshare company has performed in the past. If you want to be the best salesperson in timeshare, you need to have statistics on your side. Check whether resales in the past have been successful and determine if the numbers will work for you.
Nick Stoles
http://www.articlesbase.com/careers-articles/tips-for-becoming-the-best-salesperson-in-timeshare-688314.html