The Ins and Outs of Timeshare Resale (Part II)

Recently, we covered the basics of timeshares and the timeshare resale market. Now we’ll dive more into how to sell your ownership, what happens when you get an offer, and how to rent out your timeshare while you wait for a buyer. These are the ins and outs of timeshare resale.

Ins and Outs of Posting on the Timeshare Resale Market

After you know what you own, you’re ready to post your ownership on the timeshare resale market. But how exactly do you advertise your timeshare effectively? The first step should be ensuring the company you choose to help you is reputable and qualified. Make sure the company is a member of ARDA. ARDA members are held to strict ethical standards, and Timeshares Only is a proud member, as one of only a handful of resale companies endorsed by ARDA.

Posting your timeshare on our online marketplace is easy.

1. Gather Your Ownership Details: Ready to post your timeshare with Timeshares Only? Before you reach out, gather as much information about your ownership as you can — think resort or vacation club name, week number, point allotment, and unit number. Don’t worry if you’re missing some details; our team is here to help you track down everything you need to get your ad up and running!
2. Advertising Your Timeshare For Sale: Once your timeshare is posted, it will be showcased on our online marketplace, connecting you with motivated buyers worldwide. Our multi-channel marketing approach maximizes your ownership’s visibility, giving it the best possible chance of reaching the right buyer.
3. Review Offers: Now it’s time to review your offers — and the choice is entirely yours! You decide which offers to accept or decline. Once you’ve made your decision, our trusted resale partner, Fidelity Real Estate, can guide you through the entire closing process from start to finish.

Not sure what you own? For assistance gathering your ownership details, call us today at 1-800-610-2734.

What Happens When You Receive Any Timeshare Offers?

Once you receive timeshare offers on your posting, there are additional steps to take in order to close the sale. Our partner Fidelity Real Estate is a licensed real estate brokerage specializing in timeshare resales. We can refer you to their specialized agents to help facilitate the sale and guide you through the closing process. You’re welcome to manage the closing process yourself, or lean on our trusted partners for guidance every step of the way. The steps generally taken to close on a timeshare are outlined below.

1. Negotiate the costs associated with the sale
2. Sign the contract and send it to a reputable title company
3. The title company of your choice will then send the contract to your resort developer

Typically, the buyer is expected to pay for the closing costs and fees. Sometimes, both parties work together to come up with a deal that works best for both parties. There can be factors that cause a buyer to ask a seller to cover the closing costs. These might include the usage frequency of the property and whether the ownership has been used in the current year.

Our partners at Fidelity Real Estate can recommend trusted title companies to assist you throughout the final steps of the closing and transfer process. The title company is responsible for holding the buyer’s funds in escrow and sending all closing documents to the appropriate parties.

To finalize the transfer, your contract must be sent to the resort developer. The resort has the Right of First Refusal (ROFR). This means they can accept the sale, or in some cases, choose to buy the property back themselves at the closing price.

Ins and Outs of How to Rent Out Your Timeshare on the Resale Market

Did you know you can rent your timeshare? Doing so allows you to recoup some funds if you are not using your timeshare and waiting for a buyer. Renting a timeshare is an affordable way for many prospective owners to enjoy luxury accommodations for less. Travelers can enjoy resort-style accommodations and amenities, often at a lower cost than a comparable hotel stay.

Posting your timeshare for rent is easy. Just call one of our timeshare consultants at 1-800-610-2734. We can help you through the simple rental ad posting process.

Other Ways to Make the Most of Your Timeshare (While You Wait for a Resale Buyer)

Resort developers have responded to changing vacation needs for decades. This has led to a lot of innovation in the timeshare industry. Developers know that today’s travelers might not necessarily want to stay at the same resort in the same destination year after year. That’s why today’s timeshare owners experience more flexibility in their vacation options than ever before.

Some resort developers have partnered with vacation exchange networks to maximize the vacation options available to their owners. Vacation exchange networks allow vacation owners to trade in the value of their vacations for stays at resorts almost anywhere in the world. The value of the vacation is typically expressed as a number of points.

The number of points assigned to a timeshare depends on various factors, including how popular your resort is, the demand for the week, and the size and type of the unit. In addition to converting your unit into exchange points, you can also purchase points on the resale market at any time.

There are two popular vacation exchange networks: RCI and Interval International (II). These exchange networks give timeshare owners access to thousands of resorts, so owners can experience vacations anywhere from the French Riviera to the exotic beaches of Bali.

Ins and Outs of Timeshare Resale: Frequently Asked Questions

Contact Timeshares Only

Are you interested in selling your timeshare? Give one of our qualified timeshare consultants a call at 1-800-610-2734. They can help walk you through the resale process and place an ad for your property on the world’s largest timeshare resale marketplace. You can also click the link below to get started.