Selling on the Timeshares Resale Market: The Do’s and Don’ts

Selling timeshare on the resale market—where to start? If you’ve grown tired of your vacation ownership, can’t keep up with maintenance fees, or are considering switching timeshare brands, it may be time to look at your options. Contrary to what many may think, there are a handful of ways to say goodbye to your ownership, and no, they’re not scams either. From discussing your options with your vacation club to working with an esteemed brokerage with a booming secondary market, we’re here to guide you through the resale process, as well as offer our own specialized approach to selling on the timeshare resale market. After all, your ownership is someone else’s perfect timeshare, with lifelong memories waiting to be made.

The Best Way to Resell Timeshare for Timeshare Owners

When it comes to selling your unwanted timeshare, there are a handful of avenues you can explore. Yet, we always recommend talking to your resort (timeshare property), developer, or vacation club first. Timeshare companies/brands typically have options and solutions for owners in need of a way out. They may even direct you to a reputable timeshare resale company, such as Fidelity Real Estate.

If your developer is unable to help you resell timeshare, the best way to sell a timeshare is to speak with a licensed real estate brokerage with a specialization in timeshare resales. While you can sell a timeshare yourself, a company of timeshare resale experts more often has the resources, knowledge, and outreach you need to get your ownership off your hands safely and efficiently. Plus, reputable brokerages can get eyes on your listing with their online marketplace of timeshare buyers.

What’s more, many timeshare brokers, such as Fidelity Real Estate, charge zero upfront fees to list your timeshare. However, should you decide to go with a timeshare advertising company, many of which are trustworthy and run by timeshare experts, you may be charged a fee for their services. Owners may choose this route instead if they want to list their timeshares on the resale market without a real estate agent.

What to Consider Before You Resell Timeshare

Utilize Exchange Networks Before Selling

If you’ve grown tired of your brand’s resort collection, thus wanting to resell timeshare, then you might want to look into vacation exchange networks. Vacation exchange allows owners to trade in their weeks or points for stays at resorts within the network’s portfolio. Many of the top brands are part of RCI or Interval International (II), the leading vacation exchange companies in the world.

For instance, Disney Vacation Club, Marriott Vacation Club, and Holiday Inn Club Vacations are all partnered with II. So, when you own with any of these vacation clubs, you are eligible to become a member of II. On the other hand, popular RCI affiliates include Hilton Grand Vacations, Club Wyndham, and Westgate Resorts. Interval International features 3,200+ resorts in over 90 countries, while RCI offers 4,000+ resorts in nearly 110 countries. So, with membership, you’ll never grow tired of your vacations, as the opportunities are endless.

But how does it work? For example, if you own with Marriott in Hawaii but want to vacation at one of the II resorts in Orlando, like Disney’s Animal Kingdom Lodge Villas, you can do so. This is because these vacation club resorts are both affiliated with Interval International. This is something to consider before you put your ownership up for sale on the resale market. Moreover, vacation exchange is a great way to try out new resorts you’re considering owning at.

Can You Sell Your Timeshare Back to the Resort?

As we mentioned, you should always contact your resort developer before selling your timeshare on the resale market. In some cases, they may offer to accept your timeshare back, which saves you a lot of potential time and stress.

Selling Your Ownership Back to Your Developer

So, can you sell your timeshare back to your developer? This is a tricky question, as not all brands have programs to buy back their owners’ timeshares. Some may only accept qualifying ownerships. For example, Certified Exit – backed by Wyndham, will take back your ownership, no questions asked, if your loan is completely paid off and you are up-to-date on your timeshare maintenance fees.

Moreover, Marriott and other developers offer timeshare exit programs, where specialists work with you (depending on your life circumstances) to help you explore your exit options and determine best solutions. However, it’s important to note that developers do not often purchase your timeshare outright. If you want to resell timeshare back to your developer in hopes of receiving some cash, this is not the right option for you.

Most often, this turns into a deed-back transaction, where your developer accepts back the deed to your timeshare, and your hands are wiped clean of your ownership. Still, if your resort doesn’t offer to take back your ownership, selling on the timeshare resale market is your next best bet.

Are Timeshare Resale Companies a Scam?

While there are the occasional bad apples in the industry, there are several legitimate and respected timeshare resale companies. As with any service, you must do your research when deciding which company to resell timeshare on the resale market with.

A surefire way to tell if a company is reputable is if they are recognized by ARDA. Members of ARDA follow a strict code of ethics and take precautions to keep the public and the industry safe from scams. Similarly, a trustworthy company will be accredited by the BBB (Better Business Bureau) and have a sufficient ranking, such as Fidelity Real Estate.

Red Flags in the Timeshare Resale Industry

While there are plenty of honest timeshare brokers and advertising companies, there are a few sketchy characters to be aware of. Take a look at a few of the red flags when selling on the timeshare resale market.

High Upfront Fees

The first red flag is any company charging outrageous upfront fees to list your timeshare. Please note that just because a company charges an upfront fee doesn’t mean it isn’t reputable; it’s the excessive cost that should raise the warning flag, as this is common among scammers. Many fraudulent characters request an exorbitant upfront payment with a wire transfer to get an owner out of their timeshare purchase. These individuals may then disappear, leaving you high and dry, fail to get you out of your ownership, or succeed in getting you out of your ownership but at a far higher rate than necessary. In fact, your typical exit company costs upwards of $5,000 dollars to get you out of your timeshare.

Promise to “Cancel” Your Timeshare Contract

Many cancellation companies promise to assist you in getting out of your timeshare contract. But the truth is that these contracts cannot simply be “canceled” at any time. In reality, you can’t cancel a timeshare contract any more than you can cancel a mortgage. These companies will simply accept your money, attempt to find a loophole in your contract, send a letter to your developer to “cease all contact” with you, and ultimately fail at releasing you from your responsibilities as an owner.

However, most states honor a rescission period following the purchase of a timeshare. The rescission period is the specified allotment of time after buying a timeshare when you can cancel your timeshare contract. However, you must be within the rescission period, which varies depending on your location. For example, in Florida, the rescission period is ten days, according to state law. Once this period ends, you are legally bound to your contract and cannot cancel it.

“Exit” Teams or Lawyers

Moreover, timeshare exit companies and lawyers are very similar to cancellation services. Without a written agreement stating how an exit team will get you out of your timeshare, it’s unlikely their efforts to exit your timeshare will work. The same goes for paying a lawyer to get you out of your timeshare. Your upfront fees will most likely be wasted, and you’ll still be left with your ownership until you eventually opt for selling on the timeshare resale market.

“Stop Paying Your Timeshare Maintenance Fees”

If any resale service, exit company, or attorney advises you to stop paying your maintenance fees, take a warning. Failing to pay your maintenance fees may cause you to default on your ownership and severely harm your credit standing. If you choose to resell timeshare on the resale market, you must keep paying these fees until the developer notifies you that the timeshare is no longer in your name.

Out of the Blue Phone Calls or Emails

Whether you’ve posted your timeshare for sale or not, know that anyone who contacts you out of the blue to let you know they have an interested buyer is breaking the law. Unless you have given a resale company permission to contact you, they should never reach out to you unsolicited. This means that whoever is on the other line does not have good intentions. Never give an unknown caller your payment information.

Selling on the Timeshare Resale Market FAQ

Sell on Fidelity’s Timeshare Resale Market

So, are you ready to resell timeshare? Fidelity Real Estate makes selling on the timeshare resale market simple. To get started, give us a call at 1 (800) 410-8326 or fill out the form below for a free, personalized consultation. One of our Licensed Real Estate Agents will carefully review your ownership and assist you in determining the asking price for your timeshare for sale to ensure you get the best value. They will be available to answer any questions you may have and happy to walk you though the entire process.

If you decide to sell with us, your real estate agent will be there with you every step until your timeshare is sold and all the details are finalized. They will keep you up to date on your contract while we work to find a buyer. So, fill out the form below to speak with an agent! Helping owners is what we do best.