Answers to Your Most Frequently Asked Questions About Reselling Timeshares.
BuyRentSellTimeshare.com has put together a list of commonly ask questions people ask about reselling a timeshare. This will explain the process and language of a timeshare resale. So no matter if you are selling a Fairfield , Disney , Marriott, Hilton Wyndham or a Raintree Timeshare the following information will be useful. If you have any further questions please feel free to contact us.
1) I bought my Timeshare from the resort can I resell my timeshare?
Yes! Check first with your Timeshare agreement and make sure that there isn’t a ROFR Right of first refusal in it. That provision allow the resort to have the first chance at repurchasing your timeshare back from you. Some resorts do include that provisions but rarely make use of it. Either way you will receive the face amount for the resale of your timeshare.
2) If I still have a mortgage payments on my timeshare can I still sell it?
Yes! Just like home buying and selling you will need to pay off the remaining amount before the transfer and sale can be finalized.
3) Do I have to use a real estate broker to sell my timeshare?
No, Timeshare is not a tradition piece of real estate hence the word “Time share” In fact most real estate brokers will not even consider taking a timeshare into inventory because of its unique qualities and specialized marketing skills needed to sell one. There are however timeshare brokers that do specialize in timeshare much in the way timeshare resellers and marketers do.
5) Do I need to have my Timeshare appraised before I sell it?
No, Timeshares do not have the traditional appraisal valuations like real estate,value is much more subjective with timeshares. Professional Timeshare marketers usually include that for free , in order to set a sale price for the timeshare.
6) Do I need a lawyer to handle the timeshare transfer?
You should have a timeshare transfer company like Timeshare Transfer inc. to handel the legal work. They are licensed and bonded and will make sure your legal paper work is complete like deed preparation,escrow closing statements and recording fees. Our network partners use them as well to prepare all sales.
7) If I lost my copy of the deed will I still be able to sell my timeshare?
Yes, the closing company will be able to get a copy from the courthouse where the deed was filed.
8) How long does the timeshare closing process take?
The time frame is anywhere between 6-10 weeks depending on any discrepancies, resort involvement or liens on the timeshare.
9) I have banked week what happens with them?
If you have banked your weeks with I.I. ( interval international) or RCI then those week(s) are yours. You can use them , sell them or include them as a bonus in the sale of your Timeshare.
10) How long does it take for a timeshare to sell?
That is a question no one can honestly answer. It depends on many factors such as , how popular is the resort, the location, is it a redweek, is it priced right, what offer will you accept and how good is the marketing of the company selling your timeshare. Ultimately it is up to you how long it will take.