Selling Your Timeshare with the Right Company
If you have a timeshare property and you are looking to sell, you will be happy to know that it is entirely possible to do. Of course, it is very important that you make sure you are selling it using the right company. You must make sure that you are working with a company that you are going to be able to trust and that will be able to help you to get the right price for the timeshare with reasonable commissions.
People find a need to sell a timeshare for many different reasons. Some find that they can’t spend the time there they wish they could, while others are looking to buy a new timeshare elsewhere. Others find that they are no longer able to pay for the timeshare due to a lost job or other change in life. No matter the reason, there might just come a time when you have to sell. Here are some tips that will help ensure you are working with the top companies when it comes to selling.
Tip #1: Do Your Research
Before you bought a home, you did research. You made sure that you found a home that was within your budget, in the area you wanted to live, and that had the features you needed. You probably researched the realtor you worked with as well. You did the same thing when you were getting a new vehicle. Why would you do any less with a timeshare resale company? You have to make sure that you are looking into the history of the company to see how long they’ve been in business. You want to know whether they have a good standing in the field and what actual customers who have used them have to say. The BBB is a good place to start. The more information you have about the company the better off you are going to be. Never skimp on the research.
Tip #2: Use Companies that Have Real Licensed Brokers
You will find that many of the companies out there offering to help you sell that timeshare are not actual brokers and realtors at all. This is where many people make a mistake. You always want to make sure that you are working with a company that has licensed real estate brokers who are realtors and who know the business. You want to make sure that the company has accreditation from the BBB as well.
Tip #3: Understand the Finances of the Deal
You also need to make sure that you understand the finances involved. The timeshare resale company is going to make a commission, but you want to know just how much that commission is going to be before you sign anything. You also want to know when you are going to have to pay the commission. When you are working with a reputable company, you will find that you do not have to pay anything until after they sell your timeshare and the transaction completes. This is a far better solution to a company that charges any upfront advance fees for their services. It is going to help ensure that they are really working hard to sell that timeshare.
Tip #4: Ask Plenty of Questions
If this is your first time selling a timeshare, then you are probably going to have quite a few questions. Make sure that you ask all of the questions about the sale before you sign anything with the company. They should be forthright about their business, and they should be able to answer all of your questions to your satisfaction. If they start speaking in terms that you do not understand, make sure that you tell them so that they can explain things in a manner that most people can get. Some of the questions that you might want to ask include the length of time that it takes on average to sell a timeshare, and how the sales process is going to work.
These are some of the best and simplest tips that you are going to want to keep in mind and utilize when you are getting ready to sell your timeshare. Start your search for a reputable company that will be able to help you with the selling of your timeshare today.
Timeshare Broker Sales is a licensed REALTOR® (a member of the Licensed Timeshare Resale Brokers Association), and a BBB Accredited Business. We are timeshare resale specialists for Hilton Grand Vacations Club worldwide, and other premium resort developers such as Marriott, Starwood, Disney and Hyatt.
For timeshare sellers, our listing services are hassle-free. We never charge advance fees, collecting payment only once your timeshare is sold. If you would like to list with us, simply fill out our Free Listing Application. Or if you are curious what your timeshare is worth, please fill out the Free Market Survey form to tell us more about your timeshare.
Still Waiting To Buy A Timeshare? Stop Waiting!
Have you been thinking about buying a timeshare recently? Those who are looking for a smart way to vacation at their favorite destination each year would do well to consider some of the many benefits that timeshares are able to offer. Here are five of the top reasons that you might want to choose one of these properties.
Afford a Great Property
When you choose to buy into a timeshare, you are going to be able to afford a great property. It is going to be possible to find a property that has luxury amenities that you might not be able to afford otherwise. Buying the timeshare is going to be much less expensive than it would be if you were to buy a second vacation home that you are only going to be using for a week or two out of the year.
Feel at Home on Vacation
When you are on vacation, you want to feel as though you are at home. Coming back to a hotel room after a long day is not going to give you that feeling. However, if you have a timeshare that you use year after year, it is going to become your home. You will find that they are generally going to have quite a bit more in the way of amenities and features as well.
Lots of Wonderful Locations
You will have a number of different locations from which you are going to be able to choose when you buy a timeshare too. Whether you are looking for a beach vacation, a location in your favorite city, or a place to spend a couple of weeks in the mountains, you will be able to find it.
Save More Money
When you have a timeshare, you will find that it can help you save even more money on your vacation. You will be able to cook at your timeshare rather than eating out all of the time. This can save quite a bit of money!
Never Wonder Where You Will Stay
You never have to scramble at the last minute just so you can find a place to stay when you are going on vacation. You will always know that your timeshare is going to be ready for you when you arrive. Imagine just how disappointing it would be if you were to schedule your vacation, only to find out all the hotels were booked because of a convention in town! A timeshare ensures that will never happen.
Basics of Setting a Selling Price for a Timeshare
Are you one of the many out there in possession of a timeshare property? While timeshares have a ton of potential as a great way to vacation, and it is nice to know that you have somewhere that you will be able to spend your vacation each year, it might be time for you to get rid of your timeshare. You may find that certain economic factors in your life right now are making timeshare ownership too difficult for you. If you are out of work, those annual fees can be difficult to handle. Regardless of the reason, it could be time that you looked into selling your timeshare.
Getting the Price Just Right
Selling the timeshare is not exactly like selling a home. Certainly, you want to make sure that you are getting the best selling price for your timeshare, and that means that you will have to know how to price it properly. If you price the timeshare too high, most people are not going to give it a second look. They want to have something that they are going to be able to afford, after all. However, if you price too low believing that your unit is going to sell faster, you might be in for a bit of a surprise as well. People are going to be suspicious that something must be terribly wrong with the timeshare and they are going to avoid it. You have to find and hit that Goldilocks zone.
You will want to know some of the things that are going to have an effect on the way that you price the unit. Two of the biggest things that you are going to want to consider are the location and the usage dates that you have for your timeshare. If you are in a location that is not as desirable, or if you have off-season dates for the resort, you are going to find that it is not going to be able to sell for quite as much in most cases. Another one of the big issues that people will have is with the maintenance. If the timeshare is not in good condition, the selling price is going to drop substantially.
If you are having trouble getting a good understanding of how much you should charge for your timeshare, then you may want to have some help when it comes to figuring out what the real value of the timeshare is going to be. Keep in mind that with the timeshare, you are not going to be able to change certain things as you would with your own property. For example, you aren’t going to be able to knock down walls or add new appliances to give it a shiny exterior that can motivate buyers.
Some might find that it is going to be more advantageous from a selling perspective to hold onto the unit for a few more years until the demand goes up again. Of course, this is all going to depend on your current financial needs.
If you have trouble determining the optimal selling of your timeshare, fear not, call our experienced brokers at 800-985-9946
Stop by almost any timeshare forum and you’ll find discussion about purchasing a timeshare for $1 on for-sale-by-owner websites like eBay and Craigslist. These days, you’ll even find sellers advertising their property on personal Facebook pages! So what’s the deal? Why are there timeshares available for $1, and is it a good idea to buy timeshare from owners on FSBO sites?
The primary reason you’ll find timeshares for sale at such drastic discounts (often listed for $1 – $100) is because the current owners are no longer able to afford their maintenance fees and simply want the property off their hands. Sounds great, right? Well, that depends.
The truth is, there are some great timeshares available on FSBO websites; but there are almost always strings attached. The trick is to research carefully and ask the right questions. Knowing which questions to ask comes from knowing the challenges associated with buying and selling timeshares this way. Here are a few key questions to ask FSBO owners, along with a brief explanation of why they’re important.
Is the deed paid in full? This one’s important. If the deed isn’t paid in full, you’re not getting a timeshare for $1, you’re inheriting a debt. If the amount owed is still acceptable to you as a purchase price for a timeshare – great! But, if it’s more than you were looking to pay, or if there are any penalties associated with late or missed payments, you might want to consider purchasing a timeshare whose deed is paid in full.
Are there any maintenance fees or penalties owed? This one is in line with the previous question. If the owner is selling their timeshare for $1, chances are he or she is having trouble making their maintenance fees. Find out from the seller if there are any maintenance fees or penalties for non-payment associated with the account. If there is remaining debt, who is responsible? Will the seller take care of the remaining balance, or will you inherit that deficit?
Who’s paying the closing costs? Just like traditional real-estate, when a timeshare deed is transferred from one owner to another, there are administrative costs associated with everything from document preparation to taxes. Closing costs may comprise origination fees, title search and title insurance fees, discount fees, survey fees, appraisal fees, attorney’s fees, credit report fees and prepaid expenses such as insurance and taxes. As a buyer in an FSBO transaction, it’s important to discuss who’ll be covering these costs, and how much they’ll amount to.
What is the escrow process? If you and the seller determine that you’ll be responsible for the closing costs, who will conduct your closing and where will the money be held?
Is the contract of sale valid? Finally, be sure the owner actually has the right to sell their timeshare. Ask to see their contract. In some cases, an owner is not legally entitled to conduct the sale of their timeshare property, so any contract you sign may be invalid. It’s a good idea to hire a lawyer to take a look at all associated contracts and paperwork.
The above questions might sound like a lot, but it’s extremely important to have all the facts before purchasing any kind of vacation ownership from a previous owner. If all this sounds too complicated, or if you’re looking for a way to streamline the buying process, you may want to work with a licensed timeshare broker like Timeshare Broker Sales, who can help you though every step of the process.
In light of recent timeshare and closing company scams, the BBB has once again released new advice for timeshare sellers. The Better Business Bureau is designed to protect consumers from fraudulent business practices while setting market standards and encouraging and supporting best practices.
Timeshare Broker Sales wears its BBB Accreditation proudly as a way to signify to our clients that we are a reputable and trustworthy source for timeshare resales.
So, what does the BBB have to say about protecting yourself while selling your timeshare? Check out the full article, entitled “Before Selling Your Timeshare, Take This Into Consideration!” Or see our short-list below. Among their talking-points for safely selling your timeshare:
- Reputation: Make sure that you are dealing with a reputable company. Check with the Better Business Bureau and Attorney General for previous complaints.
- Licensing: Are they licensed? Check with the local Real Estate Commission.
- Upfront Fees: Are there upfront fees? How much? Ed. Note: Beware of paying upfront to sell your timeshare. This is a hallmark of timeshare scams.
- Associated Costs: Will you be responsible for monthly fees, annual and closing costs, percentage increases, commission, tax, etc.? Are these fees agreeable to you?
- Brokerage or Advertising: Is the reseller actually advocating to “resell” your property, or simply advertise it for sale?
One final warning: If you are being promised that a buyer is “waiting in the wings,” it’s likely that this may be an attempt at misleading you into prematurely signing a contract or sending an upfront fee.
Don’t be fooled. Do your research and choose a reputable timeshare brokerage company, like Timeshare Broker Sales. We are leaders in vacation ownership resales, and we never charge an upfront fee for our services.
People who buy vacation ownership properties on the resale market generally don’t mind spending the time to conduct some thorough research. Unlike impulse timeshare purchasers, resale buyers know they can save up to 60% off developer prices by taking the time to shop around.
Location is usually the deciding factor in a timeshare purchase. Destinations like Florida, Hawaii, Las Vegas, Mexico and Hilton Head are among the most popular timeshare destinations.
Beyond that, resale buyers are looking for reputable vacation ownership brands with long-standing traditions of hospitality excellence. The best of both worlds in vacation ownership combines beloved destinations with high-quality resorts.
Follow the links for more information on each of the timeshare vacation clubs listed below. The following vacation ownership brands are the most highly desirable timeshares on the market:
- Hilton Grand Vacations Club
- Marriott Vacation Club
- Disney Vacation Club
- Wyndham Vacation Club
- Four Seasons Private Residence Club
- Hyatt Vacation Club
- Starwood Vacation Ownership – Starwood also manages Sheraton and Westin timeshares, and Harborside at Atlantis Resort.
If you have any questions about vacation ownership with any of these exclusive brands, please don’t hesitate to contact us today.
Every year, the American Resort Developers Association (ARDA) holds a World Convention focusing on the vacation ownership and timeshare industry.
This year, the 2012 American Resort Development Association (ARDA) World Convention and Exposition ran from April 1-5, and focused on global vacation ownership issues, with an “international theme” present throughout all educational forums and workshops.
International Timeshare Market
Sessions included information on the similarities and differences in sales practices across the globe, tips on how timeshare brokers and resort developers can break into international markets, and exclusive ARDA research findings on the state of international timeshare resales, which appear to be on the rise.
Social Media, Technology & Timeshare Resales
In addition to information on leveraging potential international sales and markets, industry leaders focused on social media as a way to use “the industry’s most powerful marketing tool – happy owners – to turn the tide of online commentary, engage a new generation of prospective buyers, and turn interest into bookings and sales.”*
Finally, the ARDA Technology Forum examined the efficacy of web-site marketing, exploring how to attract and engage users in a market where consumers are naturally wary.
At Timeshare Broker Sales, we believe the best way to serve our clients and potential customers is to provide them with honest, relevant and up-to-date information about vacation ownership right here on our website, and to engage with them via social media networks like Twitter and Facebook. We also invite consumers to contact us any time with their timeshare resale questions.
Selling a timeshare can be a tricky business; and there is all sorts of conflicting advice about how to sell a timeshare on the internet. So we thought we’d help. We put together our top three tips for selling your timeshare:
- Always Pay an upfront fee to sell your timeshare – it’s important to get the ball rolling. Plus, paying an upfront fee is a great way to ensure that a company already has your money; so you know they’ll do the right thing and work quickly to sell your timeshare.
- Don’t bother checking licensing or BBB accreditation – these things can waste precious selling time. If they have a website, or their agents sounded professional on the phone, there’s no reason to worry about their reputability.
- Don’t waste time with contracts – In today’s digital age, nobody uses contracts anymore. Besides, signing piles paperwork can delay proceedings, and could cost you the sale of your timeshare.
Bonus Tip: April Fools! Want to sell your timeshare safely and securely? Don’t follow any of the advice on this page.
Instead, contact one of our licensed (and BBB accredited) timeshare brokers. We’ll help you sell your timeshare on the resale market, and we never charge an upfront fee for our services.
Last year we reported on Jennifer Kirk’s massive timeshare resale scam. We’re happy to report that last week Kirk was sentenced by a federal judge to a prison sentence of more than 15 years.
Kirk, a Florida-based telemarketer bilked more than 20,000 victims out of more than $30-million dollars in her nationwide timeshare resale scam. Additionally, according to an article published on businessweek.com, “three of Kirk’s former employees spun off a similar timeshare scam as Real Timeshare Marketing, which federal prosecutors say made $1.3 million using the same tactics that Kirk employed.”
Kirks’ scam had all the classic hallmarks: cold calls, promises of buyers and upfront fees. Protect yourself and do your research. Always choose licensed timeshare brokers and check their BBB Accreditation.