Timeshare Seller FAQ
Timeshare Broker Sales answers your Frequently Asked Questions about Selling Timeshare
Sometimes lifestyle changes indicate that it may be time to sell your timeshare. If your circumstances have changed and you need to sell your vacation property, let a licensed professional at Timeshare Broker Sales help.
Whether you choose to list your timeshare for sale with us or elsewhere, take the time to read these frequently asked questions so you can make informed decisions about selling your timeshare.
Almost without exception, there are no timeshare resorts that have an active buy-back program. At some high demand resorts, sellers may be placed on long waiting lists, in hopes that there is a surge in demand for certain unit types, but selling timeshare this way is unreliable because resorts will always try to sell timeshare at retail prices, before offering your resale timeshare to buyers.
Trying to sell timeshare on your own is difficult. Advertising in local media is very limited in reach, so eventually sellers are led to the internet only to discover the dizzying array of timeshare resale companies. These days, timeshare resale activity is almost entirely Internet based, and can be divided into two major groups: advertising sites and licensed timeshare brokerage sites. There are variations of each, and combinations of both, so it is important to do your homework. Most licensed timeshare brokers, like Timeshare Broker Sales, do not charge an advance fee, instead opting for a commission-based payment at time of sale and closing.
Advertising sites are more suited for “for sale by owner” types, willing to pay up to $2000 for placement of an ad, and little personalized service. Timeshare ad sites will list your timeshare for sale online in a large inventory of timeshare resales. Though these sites are highly-visible online, their inventories can number in the hundreds of thousands, meaning it’s easy for your timeshare to get lost in the shuffle, especially if it isn’t priced correctly. Most ad-sites will charge an upfront fee to list your timeshare for sale. Timeshare brokers, on the other hand, are negotiators. At Timeshare Broker Sales, we’ll go beyond listing your timeshare for sale on our highly-visible website; our brokers work actively to connect you with buyers to get your timeshare sold as efficiently and effectively as possible, with no upfront fee.
It’s important to manage your expectations. Don’t expect to receive the same amount that you originally paid for your timeshare, as resort-prices are often inflated to generate a massive profit. Many factors influence the resale price including: season, location, unit size and age of the unit or resort. In particular, if you have owned your timeshare interest for less than five years or if its location is not ideal or particularly popular, the resale price will reflect this.
Why Are There Variations in the Amount That I am Quoted?
Be wary of any timeshare ad-site that promises a “too-good-to-be-true” selling rate. Many timeshare resale sites offer Current Market Surveys (sometimes called CMA’s) at no charge or a nominal fee. This is an area that creates much confusion, and can often be misleading. Many ad-sites that charge an upfront fee will entice sellers into the false expectation of an unrealistic, higher sale-price, in order to secure the sale of the ad. Conversely, timeshare brokers will generally provide a more realistic price, to affect a sale in a reasonable time period, so everyone can get paid. Licensed timeshare brokers can discuss pricing very specifically, while ad site sales personnel, generally unlicensed, are limited to discussing pricing information that is in the public domain. Once again, do your homework and find someone you feel is credible to provide reliable information.
In all cases, when you’re deciding with whom to sell your timeshare, take the time to check references through industry organizations like the American Resort Developers Association (ARDA), or state regulatory agencies and real estate commissions; and of course, the Better Business Bureau.
The undeniable fact is that the timeshare resale marketplace is entirely price driven. This makes sense because your timeshare is identical to the other timeshare sellers competing with you over the same buyer. The only difference is price. Our licensed timeshare brokers can help you price your timeshare right, based on your selling preferences. A simple rule is that if you are not in a hurry to sell your timeshare, you can market it at the higher end of the price-range. Conversely, if you need to move the timeshare quickly, then a lower price will draw timeshare buyers.
What’s My Role When Working with a Broker?
Like other real estate transactions, when working with a broker you will be presented with offers that you can decide to accept, reject, or counter. Brokers are paid commission at the time of sale, meaning it’s in their best interest to sell your timeshare efficiently yet at the highest rate possible – but ultimately, you are in control.
You’ve found a buyer, great! But how do you legally close on the sale of your timeshare? If you successfully negotiated your timeshare sale using an ad-site, then the process begins in selecting a timeshare closing company. Again, do your homework to select a company that is credible and deemed reliable. If you transact the sale using a licensed timeshare brokerage company, you’ll receive the benefit of knowledgeable closing coordinators who can walk you through the entire process to completion.
Generally, this closing process takes 6-10 weeks, depending on location of the resort and type of deed. Timeshare Broker Sales partners exclusively with closing companies that are licensed and bonded, to ensure a safe and reliable transfer of property.
Who Pays Closing Costs?
For most transactions, the buyer will assume the closing costs, with the seller paying the commission to the broker (if applicable). The closing costs include administration fees, deed preparation, escrowing funds, estoppels certificate, closing statements, recording fees, and delivery of documents.
Why Choose Timeshare Broker Sales?
Timeshare Broker Sales is a licensed REALTOR®, and a BBB Accredited Business. We are timeshare resale specialists for Premium timeshare resorts groups like Marriott Vacations Club, Hilton Grand Vacations Club, Starwood Vacation Ownership and Westin Vacation Ownership. Most importantly, we are a name you can trust.
Timeshare Broker Sales favors an honest, hands-on approach. Getting your timeshare sold is our priority. For more information about our timeshare resale services, please visit our timeshare basics page or call us, today!
Contact us Toll Free at (800) 985-9946, and see what our clients are raving about! There is a difference hands-on service our brokers provide. Let us help you buy that perfect timeshare vacation on the timeshare resale market, and see how much you can save!