How To Sell a Time-Share
A fixed week unit was convenient when you purchased your Time-Share, but doesn't fit in with your current lifestyle. Your family has grown or matured, and the destination no longer provides activities to suit everyone. Or perhaps the mortgage, taxes, and maintenance fees are a burden. No matter what the reason, if you've decided to sell your Time-Share you no doubt want top dollar and a quick closing. For most sellers, those two events do not go hand-in-hand. In fact, owners who purchased a new time-share typically recover very little of the original sales price when they decide to sell.
Realistic Pricing Price is the driving force for Time-Share resales.
A sale can be difficult to achieve if your unit is a studio, or usage dates are in an off season. The same is true for units in resorts that have not been properly maintained. Even larger time-share units with in-season or flexible weeks typically sell for only 30%-55% of their original price. If your Time-Share is part of a chain, where credits can be used for airline tickets or other accommodations, you may be able to recover a higher percentage of the unit's original price.
now What You Own
Make sure you understand exactly what you are selling before you begin to market the Time-Share. Do you have a deeded ownership in the property, or do you have a Right To Use (RTU) the Time-Share for a specified number of years? RTU agreements decrease dramatically in value as they near the expiration date. Find all documents that pertain to the Time-Share, including mortgage information, tax records, and maintenance details. A knowledgeable seller tackles a transaction in a confident manner. Be prepared to answer any (reasonable) question a potential buyer may have.Listing With a
Real Estate Agency
You'll find many online and offline agencies that will list your time-share. Some charge an upfront fee, then a commission at the time of sale. Others work strictly on commission. Fees and commissions vary, and are typically higher than those charged for a traditional real estate transaction. Interview several agencies before signing an agreement. Check each company's complaint records with the Better Business Bureau, and with their State Attorney General's office. Find out if the company a member of the American Resort Development Association, ARDA, a trade organization that expects its members to abide by a set of ethical guidelines when selling time-shares. Become familiar with the Time-Share laws for the state involved. Upfront fees are illegal in some states, but agencies work around the laws by giving them other names--would you trust the ethics of a company that does that? Check with state real estate commissions to verify that the company and its salespeople are licensed to practice real estate in the states they operate in. Ask each office to tell you--in writing--exactly how they plan to market your Time-Share. Developer Resales
Resort developers sometimes offer resale programs. Salespeople working on-site do have easy access to buyers who are interested in that specific resort or chain, but their main focus may be selling new units. False Promises
The Time-Share resale market has attracted numerous scam artists. Be wary of anyone who promises you a quick sale. No one can guarantee that. Auctions
include your Time-Share listing on an auction service such as eBay. Browse current and past auctions before you list your property. Note sales prices, and which descriptions sound most appealing. Incorporate the best marketing ideas into your own ad. Financing a Time-Share Resale
Developers offer programs to finance new Time-Shares, but it's difficult to finance a resale. The majority of sales are cash transactions. Talk with an attorney before agreeing to finance any property. Time-Share Resale TipsLearn more about Time-Share resales before you try to sell your property. ources on this pageportant for buyers, too, since they can help you select a vacation club interval that will be more marketable should you decide to sell at some time in the future.Howto Find a Time Share
This guide will help you find a Time-Share. Use these tips to fine-tune the location and determine the type of Time-Share ownership that's best for you. Here's How:
If you enjoy going to the same location every year, find a fixed-unit Time-Share, which gives you ownership of a specific condo or other property. The deed will state if you must visit the same time each year or if reservations are flexible. If you like to travel to varied destinations consider a Vacation Club, a Time-Share that lets you choose from multiple locations. Make a list of several destinations that interest you. Search the Internet for Time-Share resorts in those locations or find a Time-Share reseller who can provide information. Join an Time-Share User's Group and pay close attention to owner reviews. Keep notes to help you remember good and bad Time-Share reviews. If a specific Time-Share developer keeps popping up in good reviews, or in other positive ways, do research to learn more about their resorts. Visit a resort and talk with salespeople. Be sure to ask about yearly maintenance fees. Ask for a copy of a blank offer to purchase and any disclosures required by law. Read all documents thoroughly.