How to Sell a Timeshare

Are you a current timeshare owner who either has gotten the full use out of their timeshare or has buying regrets and is wondering, “How can I sell my timeshare?” Don’t worry— you’re not alone. Whatever your reason for wanting to get out of a timeshare, there is an entire secondary timeshare market for owners like you to find interested buyers, as well as other potential timeshare “relief” options available. Learn how to sell a timeshare through any of these well-known methods:

Review Your Contract

When you purchased your timeshare, you also signed a contract outlining your ownership. There are several ways to get out of a timeshare and knowing these contract specifics will only help you decide your best course of action and help you to start your journey to a timeshare-free life.

What are the Details Of Your Timeshare Unit?

There are a lot of small details that can determine the price of a timeshare, but which ones make the most impact? Here are just a few of the most prominent items to note in your ownership that will influence its potential price:

• Resort Name and Location— in preferred destinations like Hawaii, Orlando, Mexico, and more.
• Brand and Exchange Affiliation— Desirable brands typically have more selling power thanks to their quality, variety of resorts around the globe, and additional ownership benefits. Some favorite names include Disney Vacation Club, Wyndham, Hilton Grand Vacations Club, and Marriott Vacation Club. Additionally, these brands are often affiliated with external exchange networks like RCI and Interval International which increase owners’ vacationing options and improve their value.
• Weeks Vs Points— Is your ownership based on point usage that can be used like cash to book your vacations, or does your ownership provide you rights to vacation during specific week(s) during the year? In some cases, owners can be fractional owners, as well.
• Week/Season (Week Owners)— Owners who have week-based ownerships could have a floating or fixed-week contract. These weeks are typically categorized into seasons by their demand at each resort and impact the value of the ownership.
• Usage Frequency— Ownerships can range in use per year. Most commonly, timeshares have annual usage but there are bi-annual, biennial, fractional ownership, and other usage types.
• Unit Size— Timeshare resorts usually offer a variety of accommodation options with more at-home features. In most cases, the larger rooms with more amenities, like multiple bedrooms and bathrooms, have a higher value.
• Timeshare Mortgage— Do you have a mortgage on your timeshare or is it paid off? It is possible to sell your timeshare in both scenarios, but mortgages can complicate the process and determine what next steps you might want to take with your ownership.

Is There a Right of First Refusal (ROFR) Clause?

The Right of First Refusal (ROFR) is a sales clause that may exist within your timeshare ownership contract. This clause gives your resort developer the right to purchase back your timeshare if you were looking to sell it.

If there is a ROFR clause in your contract, you will want to contact your Home Resort after finding an interested buyer to provide them with this information, including your expected sale price, and allow the resort the opportunity to buy back the ownership. If they pass on buying back the timeshare, you can move forward with selling to the interested buyer.

See If Your Developer Has a Deed or Buyback Program

Some vacation ownership contracts will have a buyback or deed-back policy in their contracts in instances where owners no longer want their timeshares. Unfortunately, it’s pretty rare for a developer or resort to buy or take back a timeshare. Timeshare owners offer these resorts a steady stream of income through their annual maintenance fees, so they will typically deny these requests.

Transfer Your Timeshare to Someone Who Wants and Will Use It

Do you have a loved one that adores your timeshare and would utilize it year after year? Consider transferring the ownership to them! It’s already common practice for owners to leave their timeshares to their next of kin, but a transfer can be completed at nearly any time.

Have a conversation with the person who might be interested in taking on your timeshare, provide them with the details of the contract, and determine if it will be gifted or purchased. It’s important to note, transfers are often faster and easier when they are gifted!

Consider Donating Your Timeshare to Charity

One of the easiest ways to get out of a timeshare quickly is through charitable donation. timeshare donation is a guaranteed process for qualifying timeshare ownerships and could have additional benefits to the current owner, like tax deduction benefits. Not only would you be getting rid of a timeshare you no longer want, but you’d also be providing to someone in need.

Timeshare Cancellation Companies— Avoid Potential Timeshare Scams!

Like others who have been looking for ways to get out of their unwanted timeshare, you have likely heard of timeshare exit companies (also often referred to as timeshare relief companies) who provide “timeshare cancellation”. Typically, these companies seek out loopholes in your contract in order to demand the timeshare developer to cancel your ownership, but these tactics typically do not work. Many of these exit companies are not able to deliver on their promises and can leave owners worse off with damages like delinquencies on their unpaid maintenance fees, and so much more.

With so many timeshare exit companies and other businesses taking advantage of timeshare owners, you should always be diligent in your research to ensure you’re working with a legitimate timeshare company. Be sure to look up every company you might work with on trusted, third-party review sites like the Better Business Bureau (BBB) and Consumer Affairs to see what real customers are saying about these businesses and the services they received.

Whether we’re talking about timeshare exit companies or other types of timeshare resale-related businesses, be aware of common timeshare resale scam red flags to avoid companies that will not deliver on their promises!

Resell Your Timeshare On the Secondary Market

Selling your timeshare on the secondary market is another great way to get rid of an unwanted timeshare legally. Owners can create for-sale-by-owner advertisements for their timeshares and receive offers directly from interested buyers around the world. Resales are appealing to interested timeshare buyers because they do not include many of the hidden fees and markups associated with developers and allow people to become owners for a fraction of the cost.

Timeshares can be sold on many platforms, including eBay and Craigslist, however, it is often best to go with a reputable timeshare resale marketplace to ensure the financial safety of both the owner and the buyer. Many of these websites offer risk-free market value surveys where you can submit the specific details you previously collected for your ownership and receive realistic resale value. From here, you can create a custom advertisement that highlights your ownership’s features and field offers. Once you receive an offer you’re comfortable with, you can then begin the closing process with the help of a preferred timeshare closing company.

Timeshare Closing on SMTN

Though you are welcome to handle the closing process on your own, any reputable timeshare resale marketplaces will offer referrals to well-known and respected timeshare closing companies, such as Timeshare Closing Services. Licensed, bonded, and insured timeshare closing companies like TCS have teams of expert real estate agents that specialize in timeshare ownership and will walk you through the entire closing including the Right of First Refusal process, the transfer of funds, and the legal transfer of ownership.

Once the closing is complete (which typically takes 30-60 days), you can walk away from your old ownership and begin your new life without the burden of maintenance fees!

Ready to Sell Your Timeshare Today?

If you’re ready to get started, SellMyTimeshareNOW.com would love to help! For over 20 years, SMTN has been a leader in the timeshare resale industry and has the largest and most active timeshare resale marketplace in the world. Our results are proven with an A BBB rating, a 4.2/5 star rating on Consumer Affairs, 4.8/5 star rating on Reseller Ratings, and much more.

Our team of resale specialists has assisted thousands of owners in selling their timeshares on our marketplace and we would love to make this dream a reality for you.

Fill out our form to get started or give us a call at (877) 815-4227!