Timeshare Resales For Sellers
Timeshare sellers, like home sellers, have multiple options in today’s market. Choices include do-it-your-self to full service Timeshare Real Estate Brokers and everything in between. Just like selling your home, there are advantages and disadvantages to each. Today we will examine do-it-your-self.
Do-it-your-self: This involves researching the market (particularly price), marketing the unit yourself, negotiating price and terms with potential buyers, creating all of the documents (this is a real estate transaction), filing papers (deed) with the local government with jurisdiction over the timeshare location. You also have to make mutually agreeable arrangements for transfer the money from the buyer to you.
Many Developers have Right of First Refusal and you have to notify them of the pending sale to avoid issues after the closing.
That just gets the title transferred to the buyer. Depending on how committed you are to the deal, you still may have to help the Buyer by transferring ownership with the Developer and the Exchange Company. There may also be reserved weeks, banked weeks, or other usage that needs to be transferred through the Developer and/or Exchange Company.
Each of these steps requires knowledge of the market, the required paper work, who to contact, and legal implications. Many questions come to mind just thinking about it. Just as most people would not perform even minor surgery on themselves, it is advisable to have a professional assist you with the resale of your timeshare. More on that in a future post.
If you cannot wait, contact a Timeshare Resale Broker for advice.
