Various timeshare brands and vacation clubs provide timeshare owners with fantastic vacations and lifelong memories. Timeshare owners, however, may not see the benefit of keeping their timeshare if they aren’t using it. So, an owner might consider selling their timeshare. There are some false stories online about the resale process that make people feel overwhelmed or stressed, but there is good news! We’re here to help separate fact from fiction and guide you through the process. You can confidently navigate the timeshare resale industry by understanding the potential pitfalls and knowing what to avoid. Continue reading to learn how to sell timeshares on the resale market and what to watch out for.
The Best Way to Sell a Timeshare For Timeshare Owners
There are tons of resources and opinions when it comes to selling your unwanted timeshare. We always recommend talking to your resort (timeshare property), developer, or vacation club first. It’s likely that your resort brand has options and solutions for owners in need of a way out. They may even direct you to a reputable timeshare resale company (like Fidelity Real Estate)!
The best way to sell a timeshare if your developer can’t help you is to speak with a licensed real estate brokerage with a history and reputation for helping owners. While you can sell a timeshare yourself, we don’t recommend doing so unless you’re an expert in the resale industry. Timeshare owners also like the secondary market as a sell option because it can help connect them with timeshare buyers worldwide.
You might also be enticed by resale companies that promise no up-front fees, which is a huge plus when selling your timeshare. However, it’s vital to note that even the most trustworthy companies will charge up-front fees. This is usually from a timeshare resale advertising company and not a real estate brokerage. Owners may choose this route instead if they need to catch up on their maintenance fees or want to sell their timeshares on the resale market without a real estate agent.
What to Consider Before You Put Your Ownership Up for Sale
Utilize Exchange Networks Before Sell Timeshare
If you are only selling because you think you have seen everything your brand has to offer, then you might want to look into vacation exchange networks. Many of the top brands are part of Interval International or RCI, the top vacation exchange companies. So, when an owner becomes a member, they can visit even more resorts.
For example, if you own with Marriott Vacation Club in Las Vegas, but want to vacation at one of the II resorts in Hilton Head, like Disney Vacation Club Hilton Head Island Resort, you can do so. This is because these vacation club resorts are both affiliated with Interval International. This is something to consider before you put your ownership up for sale on the resale market.
Can You Sell Your Timeshare Back to the Resort?
As we mentioned, you should always contact your resort before selling your timeshare on the resale market. In some cases, they offer to take it off your hands to help avoid a daunting task, which saves you a lot of time and stress.
Selling Your Ownership Back to Your Company
This is a tricky question because not all brands have programs to buy back their owners’ timeshares. Some may only accept qualifying ownerships. For example, Certified Exit – backed by Wyndham, will take back your ownership, no questions asked, if your loan is completely paid off and you are up-to-date on your timeshare maintenance fees.
Certified Exit offers a safe and easy solution to take your ownership off your hands. However, it’s important to note that they do not purchase your timeshare outright. If you want to sell your timeshare back to Wyndham to receive some cash, this option may not be for you. If your resort doesn’t offer to buy your ownership, there are still options to sell it on the resale market.
Are There Any Legitimate Timeshare Resale Companies?
YES. There are several legitimate timeshare resale companies. Do your research when you’re looking into selling your timeshare on the resale market. A surefire way to tell if a company is reputable is if they are recognized by the American Resort Development Association (ARDA). Members of ARDA follow a strict code of ethics and take their reputations very seriously.
Red Flags in the Timeshare Resale Industry
While several trustworthy timeshare resale companies can help you, there are just as many scams to avoid.
High up-front fees.
A company charging up-front fees doesn’t mean it isn’t reputable. Be careful, though, because this is common among frauds. They will ask for a crazy high up-front payment with a wire transfer to get an owner out of their timeshare purchase. Before you send anyone money, you know precisely what it’s for and why it’s necessary.
Exit companies cost upwards of $5,000 dollars to get you out of your timeshare.
Promise to “cancel” your timeshare contract.
Many companies promise to assist you in exiting your timeshare contracts, but the truth is that these contracts cannot simply be canceled at any time. In reality, you can’t cancel a timeshare contract. Most states have a law in place for a rescission period of a few days when you first buy a timeshare. You must be within the rescission period, which varies depending on your location. For example, in Florida, the rescission period is ten days, according to state law. Once this period ends, you are legally bound to your contract and cannot cancel it.
“Exit” teams or lawyers.
Timeshare exit companies and lawyers are just about the same as cancellation services. You are likely getting scammed Without a written agreement stating how an exit team will get you out of your timeshare. Paying a lawyer upfront fees to get out of your timeshare is not a good idea.
Stop paying your timeshare maintenance fees.
If any resale service, exit company, or attorney advises you to stop paying your maintenance fees, take a warning. This advice will cause you to default on your ownership and severely harm your credit standing. If you are selling your timeshare on the resale market, you must keep paying these fees until the developer notifies you that the timeshare is no longer in your name.
Out of the blue phone calls or emails.
Even if you are not selling your timeshare, anyone who contacts you out of the blue to let you know they have an interested buyer is breaking the law. Unless you have given a resale company permission to contact you, they should never reach out to you unsolicited.
Selling Timeshare Resale Market Q&A
How Long Does it Take?
It could take weeks or months to sell your timeshare. Depending on what you own and how you go about it, there might not be the right buyer immediately. For example, over 90% of our Disney Vacation Club listings are sold within 30 days. Resorts in prime locations like Las Vegas, Hawaii, and Orlando are highly sought after, which can also help when you sell. After getting an offer and negotiating the terms of the sale, the closing process generally takes between 60 and 90 days.
How Much Can I Get For Selling My Timeshare on the Resale Market?
Timeshares are not investments. So, when you put your timeshare up for sale on the secondary market it is important to keep your expectations low. Your timeshare worth will most likely not be as high as what you paid for it. The price of a timeshare can vary depending on multiple factors. Some timeshare details that affect value include unit size, what vacation club you own with, how many points you own, and what resort you own at, among others.
When buyers look at the secondary market to find timeshares they usually are looking to save some money. The resale market can come with restrictions, but these owners are okay with this as they can start or add on to their ownership for less.
As you are setting a price we recommend doing some research and looking at timeshares similar to yours on the resale market to competitively price your ownership.
Do Real Estate Agents Sell Timeshares on the Resale Market?
A traditional real estate agent or brokerage that sells houses will likely refer you to a specialized service. This is because the timeshare resale market is challenging and easier to navigate if you’re inexperienced. Timeshare resales can be confusing. For expert guidance on navigating resort developer communications, understanding the Right of First Refusal, and managing the complexities of timeshare ownership, you need the expertise of a professional to sell your timeshare.
Fidelity Real Estate (Fidelity Resales) is a full-service, licensed real estate brokerage specializing in timeshare resales. We are experts with over 20 years of experience and a stellar reputation. We have an A+ rating from the Better Business Bureau and are a Featured Reseller for ARDA.
Sell Timeshare on Fidelity’s Resale Market
If you are interested in selling your timeshare, we invite you to contact us today. You can do this by calling 1 (800) 410-8326 or filling out the form below for a free, personalized consultation. Our dedicated agent will carefully review your ownership and assist you in pricing your timeshare to ensure you get the best value. They will also be available to answer any questions you may have.
If you’d like to know more about selling your timeshare without upfront fees, check out our video. This video comprehensively guides us in selling timeshares or vacation club ownership. It hits critical points, including avoiding scams, finding trustworthy assistance, and other valuable tips.
If you decide to sell with us, your real estate agent will be there with you every step until your timeshare is sold and all the details are finalized. They will keep you up to date on your contract while we work to find a buyer. Fill out the form below to speak with an agent.
