Welcome to BUY A TIMESHARE - Timeshare Resale - FREQUENTLY ASKED QUESTIONS
Q. What is involved in selling my timeshare?
A. Congratulations in receiving communication from a potential buyer for your timeshare! There are a few things you should understand before responding to a request for more information or an offer to purchase your timeshare:1. Be Wary of Potential Buyers!
- Not every offer or question will lead to a sale. Buyers often submit false information because they are not serious about buying a timeshare. If you try to contact a potential buyer and you cannot reach them through e-mail or telephone, more then likely they are not a legitimate buyer or have changed their mind about the offer.
- Do not give out too much personal information about yourself or your timeshare! It is not necessary for a buyer to have your account number, social security number, or address when they are submitting an offer. The only person who should need this type of information is the closing agent in charge of transferring ownership of your timeshare to the buyer. Another thought is to limit the times buyers may contact you. If give out your home phone number, a buyer may try to call you at times which are not convenient for you (such as dinner, late night, etc.) Try not to give out your home number if possible. Perhaps try a cell phone that can be turned off when you are not available to answer calls.
- If a buyer has questions, make sure you know the answers before you give out incorrect information. A buyer can be very particular about what he/she is looking for. If you cannot answer the buyer’s questions accurately or you are unsure of the answer,, refer to your original paperwork or contact your resort directly. If you misrepresent your ownership information, it will cost you around $200.00 in fees if the sale falls through!
Q. Are there Additional fees Involved with Selling my Timeshare?
- There are no additional fees to sell your timeshare. You have paid your advertising fees and we do not charge a commission to you. You must be current with all fees with the resort (including but not limited to maintenance fees, taxes, assessments, etc.) If you are not current with these fees, the amount you owe to the resort will be deducted from your sale price and paid on your behalf.
- The buyer, however, must pay for all closing costs. The average fee for closing is around $650.00. If you are negotiating with the buyer, it is important to keep in mind that the buyer will have to pay $650.00 in addition to his/her offer to purchase your timeshare!
Q. What Happens when I have a Buyer willing to Purchase my Timeshare?
- If you have come to an agreement with a buyer, the first step is to put everything in writing. There are initial purchase agreement forms that are available for download by clicking here. You need to fill out this form completely and mail it to the closing company. The instructions are printed directly on the form. A closing agent from Resort Closings, Inc. will contact you as soon as they receive the form.
- Once Resort Closings, Inc. receives your purchase contract; they will be your point of contact through the rest of the closing process. Resort Closings, Inc. is the party responsible for transferring your timeshare membership to the buyer. You may reach Resort Closings, Inc. at 1-877-748-7488. Their website is www.resortclosings.com.