So, you’ve decided you no longer want your timeshare. This can happen from time to time! While a survey conducted by ARDA in 2022 indicated that 90% of owners are satisfied with their timeshare, it’s still understandable that not everyone would want to keep theirs forever. Whether it’s because of a change in lifestyle or a desire to stop paying annual maintenance fees, it’s understandable that some owners would prefer to move on from their timeshare property. Fortunately, there are plenty of timeshare relief options. So, if you no longer want your vacation ownership, we’re here to help! Here’s how to sell a timeshare that is paid off.
Can You Sell a Timeshare that Is Paid Off?
Should you decide to sell your timeshare once it’s paid off, you are in luck! Almost anyone can sell their timeshare. As deeded property interests, most timeshares can be bequeathed, rented, or sold at the timeshare owner’s discretion. The best way to get out of your ownership is by selling, gifting, or asking the developer to take it back. One benefit of selling your timeshare with us is that you can advertise it for rent while you wait for someone to buy it. There is no way to determine how long it will take to sell your timeshare that is paid off. By sharing your timeshare for sale online on social media or different forums, you can get more people to see it. The good news is owners are always looking to add to their ownership for less money.
Things to Consider Before Selling a Timeshare that Is Paid Off
There are a few things to keep in mind before you decide to sell your timeshare that is paid off. Some owners feel they have seen everything their resort has to offer within their brand’s inventory. But through vacation exchange networks, you can trade your timeshare points or weeks for vacations worldwide. Most timeshares brands and resorts likely affiliate with RCI or Interval International, the two top vacation exchange programs.
Or, you can look into banking or borrowing your points. The point-based programs offered by many vacation ownership brands allows you more flexibility and options. Another good option before selling your timeshare is to rent it out during the years you can’t use it. This will help you cover your maintenance fees for that year. Lastly, you can gift your trip to a friend or family member. This is perfect during the holidays, for an anniversary, or as a graduation present.
What About Timeshare Exit Companies?
You may have heard about timeshare exit companies as a way to get rid of your timeshare ownership. While these companies may seem promising, they ultimately cause more harm than good. A timeshare exit company will often claim they can cancel your timeshare contract, but in practice, they typically send a letter to your resort telling them to cease all communication with you, the timeshare owner. Many of these companies will advise timeshare owners to stop paying fees, which can lead to them defaulting on their ownership and damaging their credit. Additionally, many of these companies charge substantial upfront fees, and in the worst case scenario, they may disappear after taking your money. As a result, it is typically better to work with your timeshare developer or sell your timeshare once it’s paid off instead of going to an exit company.
The Best Way to Sell a Timeshare that Is Paid Off
There are a few ways to get rid of your timeshare. First, we recommend you turn to your developer or resort because they might have in-house solutions for owners. For example, Wyndham provides several solutions. You can contact Wyndham Cares if you have any questions about your timeshare, if you want to rent out your timeshare, or if you want to sell it. They might even connect you with Ovation by Wyndham, a program offering an immediate solution. Some brands may refer you to us for help! TSO can help you sell your timeshare that is paid off by providing advice over the phone. To post your timeshare for sale, call 1-(800)-610-2734 or submit an online form.
The Coalition for Responsible Exit
Timeshares Only is a proud member of the Coalition for Responsible Exit. The American Resort Development Association, or ARDA, formed the Coalition for Responsible Exit to combat illegitimate companies and scammers. By visiting ResponsibleExit.com, you can ask any questions or discuss any concerns you might have about who to turn to for relief. Every member of the coalition follows a strict set of ethics, so you can rest assured that you’ll be in good hands.
The Timeshare Closing Process
Once you post your timeshare for sale on our online marketplace, people looking for vacation ownership can make an offer. We make it easy for buyers to contact us for more information about your posting. Or, buyers can make an offer directly on the web page. After a buyer places an offer on your timeshare, our trusted broker, Fidelity Real Estate, will offer their services to help facilitate the sale.
Although you can handle the closing process on your own once you get an offer, the process of doing so can be quite complex. From navigating the right of first refusal to handling negotiations, to transferring funds and ownership, managing these tasks on your own can be quite stressful. On the other hand, a real estate agent will be knowledgeable and can help you through the whole process. You can trust Fidelity Real Estate agents to handle negotiations and navigate the developer’s Right of First Refusal. If you have any questions about how to sell a timeshare that is paid off, feel free to give us a call at 1-800-610-2734 or email us at [email protected]. We’re always happy to help!
Not Quite Ready to Sell Your Timeshare that Is Paid Off?
If you’re still on the fence about selling your timeshare, consider renting it out instead! When you rent out your timeshare, you’ll be able to put some money back in your pocket or help pay off your maintenance fees. Plus, you’ll be able to get some use out of your timeshare while you aren’t visiting it. Timeshares Only can help you post your timeshare up for rent on our online marketplace, so you can get some use out of your ownership as soon as possible! Click the link below to get started!
