February 24, 2022
Traditionally, timeshares have been perceived as fixed vacation weeks, but sometimes we’re asked how to sell a deeded timeshare so we’d like to specifically address this question.
A: When you purchased one week of timeshare you either entered into ownership of deeded vacation time at the resort property or a right-to-use the resort property.
Before starting the sales process, it’s important to determine which type of timeshare you own so you can effectively communicate your property to potential buyers and understand what to expect from the closing process, as the process can differ for each type of timeshare.
A: With right-to-use arrangements, the resort owns the deed, and you basically “lease” the time at the resort for a certain number of years – usually 20-40. Sometimes right-to-use arrangements are referred to as points-based ownership because you’ve essentially bought points that could be used for resort stays and possibly car rentals, cruises, and other amenities.
A: With deeded arrangements, you own a physical deed to vacation at the resort. In some cases, a timeshare deed can also be converted to points. There are positives and negatives to each arrangement, but in this article, we’re going to focus on the selling process.
A: There are some technical differences between the sale of a deeded timeshare and that of a right-to-use, primarily involving the closing process, but generally speaking, the selling process is the same. You can either use a licensed timeshare broker or a timeshare resale company like Sell a Timeshare to help you find a buyer for your timeshare.
If you choose to use a broker, typically you’ll be asked to pay a commission fee, often between 15%–40% of the sale price, or a flat fee of $1,500 after the timeshare sells. If you choose to advertise your ownership with a resale company like Sell a Timeshare, which provides a high-traffic platform to get your timeshare in front of millions of potential buyers, you won’t pay any advertising fees.
If you use a timeshare broker you won’t need to worry about the differences in the closing process between right-to-use and deeded ownership arrangements because the broker will manage everything.
If you choose to advertise on a resale platform, you’ll save on the advertising fee, but you should understand the differences in the closing process.
A: The closing process differs state by state and by the resort in most instances, so there is no generic, blanket way to describe the differences between the sale of deeded or right-to-use properties.
For example, in South Carolina, all resale contracts need to be reviewed by a lawyer. In Florida, however, they don’t. Some resorts require transfer fees, some don’t. It can get very tedious. One similarity is that you’ll almost always have to pay your maintenance fees in full before you’re able to sell.
One way to take the guesswork out of the closing process and put it into someone else’s hands would be to hire a broker, like Timeshare Broker Associates, to help out with the sale. Any paperwork fee is included in the sales process, within the commission paid after the sale and gives you peace of mind.
A: If you’ve found a buyer for your timeshare deed without a broker and you don’t want to hire one for the purchase and sale paperwork, your first course of action would be to research timeshare sales contracts so you can get the buyer’s commitment in writing. Once you have a signed written agreement, you will want to research promissory note forms to secure a down payment and closing companies that can handle the closing process for you.
You’ll also want to begin doing research on exchange company transfer forms in case the buyer wants to enroll in the exchange company affiliated with your resort.
You can sell your timeshare deed – it’s just a matter of how you choose to advertise your timeshare and execute the sale. We’re a bit biased, but using our free advertising platform that is also partnered with our affiliated broker Timeshare Broker Associates makes the process far easier.
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If you're looking to return your timeshare to the resort, you should understand the timeshare deed back program, if offered, and how it works.