Does selling your timeshare feel a bit intimidating? We understand! There are plenty of myths surrounding the timeshare resale market, making it hard to separate fact from fiction. Plus, moving on from your ownership can look challenging if you don’t have a proper guide. Fortunately, we’re here to tell you that selling your timeshare can be safe and secure, as long as you know where to look. If you want to sell timeshare by owner, you’ve come to the right place! We’ll give you a complete guide with everything you need to know to get started.
Getting Started With Selling Your Timeshare
Whenever you as an owner are ready to sell your timeshare, it’s always wise to reach out to your resort developer first. Developers are often the ones most familiar with the resort brand’s requirements and regulations. They can help timeshare owners understand their options and provide the best advice on how to move forward. This is especially true for timeshare owners that are looking for a way out of their contract. In the event they can’t offer you a solution you like, they may recommend a reputable timeshare resale company. Whatever the case, when it comes to selling timeshares, it’s best not to do it alone. You’ll be better off working with experts who can help you navigate the world of timeshare resales.
Why Work With a Timeshare Resale Company to Sell Your Timeshare
One reason why some owners sell their timeshares is because they no longer want to pay maintenance fees. In cases like this, working with a timeshare resale company can be very helpful. Some resale companies do not charge upfront fees, which can provide some financial relief. With that said, even reputable agencies can sometimes charge upfront fees. Most often, it comes from a company that advertises timeshare resales. An owner can choose this route instead if they are behind on their maintenance fees or want to sell their timeshare without an agent.
Want to learn more about saving some money during the selling process? Then check out our video, “How to Sell a Timeshare Without Upfront Fees.”
Avoiding Common Scams
Now that you know about the importance of working with experts during the resale process, let’s talk about certain pitfalls any owner will want to avoid if they choose to sell their timeshare. While timeshare resales can be completely safe, it’s important to be wary of bad actors who may want to exploit you. Here are some of the most common scams to look out for.
- High up-front fees. Be aware that while up-front fees can be legitimate, you should be wary if someone asks for ridiculous fees via wire transfer without a clear explanation of why they’re necessary.
- Promise to “cancel” your timeshare contract. “Exit” teams or lawyers. If you are selling your timeshare ownership, you need to be aware that regardless of what others may say, you cannot cancel the contract. Most states offer a rescission period allowing you to back out of the agreement. However, you cannot cancel your timeshare contract after the rescission period has passed because you are legally bound to it.
- Stop paying your timeshare maintenance fees. In the event that you are instructed to stop paying your annual dues by a real estate resale agent, exit company, or attorney, you should take notice. Ignoring these fees can put you in financial jeopardy, damaging your credit score. Even if you are no longer interested in keeping the timeshare, you are still legally obligated to keep up with payments until the developer releases you from the agreement.
- Out of the blue phone calls or emails. It is illegal for groups or individuals to contact you out of the blue, claiming that they have a potential buyer for your timeshare. Do not trust any timeshare resale company that approaches you unsolicited.
Who Will Buy My Timeshare if I Try to Sell It?
People often wonder if selling your timeshare on the secondary market is possible. While some people claim it’s impossible to sell timeshares, that claim couldn’t be farther from the truth! Our team at Fidelity Real Estate receives inquiries about Wyndham, Disney Vacation Club, Marriott Vacation Club, and other top timeshare resort brands daily. As an owner, you can rest assured that its very possible to sell your timeshare. In fact, many buyers add to their existing ownership through the resale market in order to get a better deal on additional timeshare points. With that in mind, it’s important to find a timeshare resale company that is experienced, trusted and familiar with the current market value of timeshares. That way, you can be sure you are getting a fair price for your timeshare.
What is My Timeshare Worth?
Keeping realistic expectations is important if you’re an owner looking to sell you timeshare. Since timeshares are not investments, you probably won’t get as much as you paid for them. In fact, timeshares are considered luxury items, kind of like cars. As a result, they tend to depreciate in value over time. While there are exceptions, like certain Disney Vacation Club timeshares, you shouldn’t expect to make a profit from them. What makes a timeshare worth it is the fact that they can be used to go on vacations year after year. If you are no longer using your ownership, selling is the best way to say goodbye to maintenance fees and annual dues forever.
What is the Cost of Selling a Timeshare By Owner?
As an owner, the cost of selling your timeshare shouldn’t be high. It is imperative that you pay off any outstanding timeshare maintenance fees or dues if you are behind. In most cases, the buyer of your timeshare will pay for costs that are part of the closing process. It is possible to negotiate these terms as well, so you may have to pay commissions or other closing costs. You have the choice of accepting or declining an offer.
Alternatives to Selling Your Timeshare
While you may be ready to say goodbye to your timeshare, there are alternatives to getting rid of it completely. For example, if you’re just tired of a specific resort brand or destination, consider using vacation exchange! Vacation exchange programs like RCI or Interval International allow you to trade in your timeshare weeks or points in order to travel to thousands of other destinations around the world. Check to see if your timeshare is eligible for vacation exchange, and you may have the world at your fingertips! You can also gift your timeshare to a loved one instead of selling it. While selling is a great option as a timeshare owner, it’s important to remember it’s not your only choice. These options are good to keep in mind if you’re on the fence about selling.
Why You Should Sell Your Timeshare With Fidelity Real Estate
If you’re an owner and want to sell your timeshare, there are two qualities you should look for in anyone you want to work with: experience and safety. Fidelity Real Estate has worked in the timeshare resale industry for over 20 years. Over that time, we’ve put together a team of timeshare resale specialists dedicated to providing top-notch services. These licensed agents are experts in all brands, so you’ll have a smooth sale process. Not to mention, we are the featured reseller of the American Resort Development Association, also known as ARDA. As a result, we follow a strict set of ethics that helps keep everyone in the industry safe. Additionally, we are an Accredited Business with an A+ rating from the Better Business Bureau.
Contact Fidelity Real Estate
Ready to sell your timeshare? Our team is ready to help! To get started, fill out the form below and one of our agents will reach out to you shortly. Still have questions? No problem! Feel free to email us at [email protected] or call us at 1 (800) 410-8326 to speak with one of our agents. We offer free consultations for all timeshare owners looking for assistance!
