Whatever the reason, you’ve decided to sell your timeshare. Maybe you’ve had a change in your lifestyle or just want to try a new vacation club. You may have even inherited the timeshare from a family member. Whatever the case, at the end of the day, it’s time to move on. No worries, you’ve come to the right place! We’ve put together a guide that will help you learn how to sell timeshare week safely. Keep reading to learn how to start selling!
Is It Time to Sell Your Timeshare Week?
Before we discuss selling your timeshare week, it’s important to note that there are options for getting more out of your vacation ownership. Perhaps you are selling because you don’t want to visit the same place at the same time every year anymore. However, you can do much more than that with your vacation week ownership!
Vacation Exchange Networks
If you feel like you’ve experienced everything at your resort or don’t feel as excited to use your timeshare week, maybe a vacation exchange could be right for you. With vacation exchange programs like RCI or Interval International, owners can trade their timeshare week for a vacation at a different resort. This is a great option for people who still want to use a timeshare week but want a new experience. Vacation exchange networks are affiliated with some of the top brands, such as Wyndham, Marriott Vacation Club, and Disney Vacation Club, so you’re most likely already eligible to use their services. Check with your resort or developer to find out which vacation exchange company your ownership is affiliated with.
Read More: Timeshare Exchange: Points-Based vs. Deeded Weeks!
How to Rent Out Your Timeshare Week
A great option for when you aren’t able to use your timeshare week is to rent your timeshare week out! Our Timeshares Only rental specialists can help you post your timeshare for rent, and you’ll receive the proceeds. Your timeshare week will still be getting good use, and the money you get by renting it out can even help pay for your maintenance fees! Plus, when you want to use it again, it’s still yours! If you’re nervous about seller’s remorse, this might be a great option for you. Or, if you have already decided you want to sell your timeshare, renting allows you to put some money back in your pocket while you wait for it to sell.
Here are the steps to rent out your timeshare week:
- Check with your developer to see if guests can use your timeshare week.
- If they say yes, contact one of our Rental Experts. Call us at 1-800-610-2734 or email us at [email protected]!
- Select a price for your fixed-week timeshare. We recommend that you price it competitively, but the final price is ultimately up to you. When you speak with the representative, they will give you tips and advice on pricing.
- Our team will create your ad so we can begin finding renters for you.
Gifting Your Timeshare
Even if you’re positive that you’re ready to move on from your vacation ownership, you can always gift your timeshare to someone else. By transferring ownership to a friend or family member, they’ll take on the responsibility for the timeshare’s maintenance fees. So, it’s important to make sure they understand the responsibility that comes with a timeshare. With that said, they’ll get to enjoy staying at a luxurious timeshare resort year after year. Overall, if they’re interested, it’s a great way to move on from your ownership while making sure it can be enjoyed by someone else.
The Best Way to Sell Your Timeshare Week
We understand that circumstances change and life gets in the way, which may affect your ability to use your timeshare or pay your fees. If this is the case and you are looking to sell your timeshare week, there are a few different ways to do so.
Our first recommendation is always to contact your developer first. The developer or resort may have in-house options for selling your timeshare week back to them directly. Typically, your maintenance fees must be up-to-date, or your timeshare must be paid off to sell back to a developer.
Timeshare Cancellation Companies
If you’ve been researching how to sell your timeshare week, you’ve likely seen companies advertising that they can help “cancel” your timeshare. It may sound too good to be true, and, unfortunately, it most likely is. These cancellation companies are typically harmful to owners. Like most other contracts out there, you can’t just cancel a timeshare contract. Instead, most timeshare exit companies will send a letter to your timeshare developer, asking them to stop contacting you. This, in turn, can lead timeshare owners to default on their maintenance fees, damaging their credit. Additionally, these companies often charge high upfront fees, whereas selling your timeshare is often more affordable.
Other Things to Be Wary of When Selling Your Timeshare
Another common pitfall some timeshare owners fall into is that they are told to stop paying their maintenance fees. Unless you have successfully sold your timeshare week, you’ll want to stay on top of these fees. Failure to do so may be damaging to your credit score. You should also be wary of unsolicited phone calls from individuals claiming they have found a buyer for your timeshare. It’s actually illegal for a timeshare company to send unsolicited calls. A legitimate resale company won’t call out of the blue.
Responsible Exit
If you are ever concerned about a company that is offering to help sell or cancel your timeshare, we recommend visiting ResponsibleExit.com. The American Resort Development Association formed the Coalition for Responsible Exit in an effort to stop illegitimate companies from scamming owners. Timeshares Only is a part of this Coalition, and we serve to protect and educate our owners about the most common timeshare scams. Responsible Exit provides resources for owners who are looking to sell their timeshare week.
Who Will Buy My Timeshare?
One concern many timeshare owners have is the possibility that no one would be interested in buying a timeshare resale. Fortunately, that’s not true! There are plenty of timeshare buyers who value the savings they get from the resale market. With that said, it’s important to keep your expectations in check when it comes to how much money you’ll receive when you sell your timeshare week. Timeshares, like most luxury items, depreciate in value over time. As a result, you likely won’t make back as much money as you initially spent to buy it. With that said, if you want to move on from your timeshare as safely as possible while recouping some of your costs, selling your timeshare is your best bet.
Why Should I Sell My Timeshare Week with Timeshares Only?
Timeshares Only is an online timeshare resale marketplace where hundreds of people browse for vacation ownership. We’ve been helping timeshare owners move on from vacation ownership for over 20 years, so it’s safe to say we know how to sell a timeshare. We also have an A+ rating with the Better Business Bureau and are one of ARDA’s featured resellers. This means that we pride ourselves in keeping everyone, from buyers to sellers, safe while navigating the resale market.
How to Sell My Timeshare Week
When you’re ready to sell your timeshare week, we will create an advertisement where potential buyers can make offers. Once an offer is received, our sister company, Fidelity Real Estate, can assist you in the rest of the sale. You always have the option to handle the closing process on your own, but we don’t recommend it! If you don’t have a lot of experience in selling timeshare weeks, it is recommended that you work with a licensed real estate agent. Fidelity agents have years of experience and are extremely knowledgeable about the timeshare secondary market. They will be able to help you navigate the selling process and can even recommend title transfer companies.
Navigating the Right of First Refusal
Resort developers have the right to purchase a timeshare back at the same price as the offer. They can also waive the right for someone else to purchase the timeshare. Right of First Refusal, or ROFR, gives resorts the right to buy back the contract they sold to you originally. This can complicate the process of selling your timeshare week, which is why we suggest working with a real estate agent. Our representatives can help make selling your week less confusing for you.
Sell Timeshare Week with Timeshares Only
Between our decades of experience and strong reputation, TSO is the best in the business when it comes to helping you sell your timeshare week. Click the link below to get started today. Still have questions? No problem! Please call us today at 1-800-610-2734 or email us at [email protected]. We’re ready, willing, and able to assist you at any time.
