Timeshare Resales

Timeshare Buyer FAQ - Vital Information About Timeshare Resales

The experts at SellMyTimeshareNOW have compiled a list of answers to the most frequently asked questions regarding timeshare resales, so that you can educate yourself prior to making any timeshare purchasing decisions. Knowledge is your most powerful asset when negotiating a timeshare sale - read on to become well-versed in the lingo and intricacies of the timeshare resale industry. And if you can't find what you're looking for here, please do not hesitate to browse the other resources suggested below or to contact one of our knowledgeable customer service representatives.

Answers to Your Most Frequently Asked Questions About Timeshare Resales

What is a Timeshare Resale?

A timeshare is a form of vacation property ownership in which the owner possesses a legal agreement with a resort that entitles him or her to vacation at the resort for a specific interval of time (commonly one week per year for a set number of years). A timeshare resale is simply a timeshare which is being sold by the current owner well below retail resort pricing.

For more detailed information, please visit our helpful page on timeshare resales.

Why is Buying from an Owner Much Less Expensive than Buying from a Resort?

Timeshare developers accumulate significant marketing related expenses - primarily through costly timeshare promotions which offer free giveaways in exchange for consumer attendance at high-pressure timeshare sales pitches. Even if you don't attend a timeshare presentation, when you purchase directly from a resort, you pay to absorb all of the administrative and marketing costs associated with the sale of the property. When buying from a current owner, you pay only the fair market value of the timeshare - a price that's often 65 percent less than the developer's price.

To learn more, take a look at our timeshare promotions page, which describes these resort presentations and what to expect should you choose to attend one.

How is "Market Value" Pricing Determined for Timeshare Resale Properties?

Pricing of timeshare resale weeks varies depending on a variety of factors. These factors include - but are not limited to - the time of year (season), location, resort amenities, size of the unit, unit amenities and, of course, market demand.

If you already own a timeshare and are curious about its current resale value, please take advantage of our free market value survey.

If I Purchase Resale, Will I Receive the Same Benefits Offered by the Resort?

Yes. Except in very rare instances, any and all rights of ownership (such as membership in the resort owners association) are transferred directly from the current owner to you when you purchase on the timeshare resale market.

Membership in an external timeshare exchange company is one of the features typically not transferred to the buyer through purchase of a timeshare resale, unless specifically stated in the sales contract. To learn more about timeshare exchange, please continue reading or visit our page explaining the benefits of exchange companies.

What is a Timeshare Exchange Company?

A timeshare exchange company is an independent organization that provides its members with the option to "exchange" their timeshare interval for one at a comparable resort (in a different location) for a nominal fee. The three largest and most well-respected exchange companies are Resort Condominiums International (RCI), Interval International (II) and Trading Places International (TPI).

To learn more about how you can utilize these exchange companies after purchasing a timeshare resale, please follow the links below:

What are Points? And How are Points Related to Timeshare Resales?

Points are a unit of measurement sometimes used to determine the value of a timeshare interval. Points are assigned based on a week's desirability in terms of season, size of suite, amenities and location. The more desirable or in-demand a resort week is, the more points it is worth.

If you are considering purchasing from an owner whose timeshare resale is part of a points-based system, don't fret that you will not enjoy the same benefits that traditional timeshares afford owners. Many respected multi-destination resort groups (like Wyndham and Bluegreen) use points-based programs to provide their owners with flexible usage options that allow them to stay for a shorter or longer period than the traditional week-long timeshare interval.

Interested in this flexible form of vacation ownership? Please view our selection of multi-destination timeshare resales.

What are Vacation Clubs? And How are They Related to Timeshare Resales?

Vacation Clubs are a type of vacation ownership (often referred to as a membership) that commonly utilizes a points-program. Vacation Club members are given points each year which can be used at resorts within the Vacation Club's network. As with traditional timeshares, Vacation Club memberships can be sold on the resale market, since a legal deeded or RTU contract (see below for a detailed explanation) is the designation of ownership.

Interested in purchasing a Vacation Club membership on the resale market? Please browse our selection of Vacation Clubs for sale.

What is the Difference Between a Deeded Timeshare Resale Property and a RTU Resale Property?

Deeded timeshares are treated just like traditional deeded real estate. In other words, once you have purchased a timeshare resale, you own it in perpetuity. It is yours to use, give away, rent out, sell or leave to your heirs. When purchasing a deeded timeshare resale, be sure that the new deed in your name is recorded in the county where the vacation property is located.

RTU stands for Right to Use. In locations where deeded ownership of vacation properties is not permitted by law (primarily outside the United States) the owner is given a contract very similar to a lease which defines a set time during which the owner has claim to the property. RTU contracts commonly encompass time frames ranging from 20 to 99 years. If you are thinking of purchasing a RTU timeshare resale property, be sure you know how many years of usage are left on the contract before initializing a sales transaction.

For clarification of more technical terms related to timeshare resales, please visit our timeshare glossary.

What are Maintenance Fees? And Why do Owners have to Pay Them?

A maintenance fee is a mandatory fee that the resort management company or homeowners association charges its owners for the upkeep of the timeshare property. This fee most often covers property taxes, utilities, insurance, and any other maintenance expenses. Maintenance fees are generally levied on annual basis, however certain resorts may levy them monthly or biennially.

To garner an idea of the common cost of maintenance fees, feel free to browse our selection of featured timeshare resale properties.

If I Decide to Buy, is Financing Available on the Resale Market?

Yes. Financing options are available with timeshare resale properties. We recommend Tammac Financial for assistance in this field.

To view Tammac Financial's website, please click here.

If I Decide to Buy, How is Ownership of the Timeshare Resale Transferred to Me?

Timeshare resale closings can be frustrating as well as legally complex, but complete timeshare closing and title transfer services are available from a variety of well-respected companies. Their services can be all-encompassing (including deed preparation, management of the escrow of funds, and preparation of timeshare estoppel certificates and closing statements), or they can handle any single aspect of the closing which you do not feel capable of handling yourself. We recommend that our buyers and sellers work with a respectable closing company that deals exclusively in timeshares so that they are assured the necessary expertise. As such, SellMyTimeshareNOW refers its buyers and sellers to Chicago Title Timeshare. Buyers, please be aware that in almost all cases you are expected to pay most fees associated with the closing and transfer of the title..

If you would like to learn more about Chicago Title, please click here.

Where to Go From Here

We hope you have found this page both useful and informative. If you would like more general information about timeshares, please visit our timeshare information page.

If you would like to browse our selection of available timeshare resales, please follow the links below:

Featured Timeshare Resales

Pet-Friendly Timeshare Resales - Wheelchair Accessible Timeshare Resales

Browse All Timeshare Resales

If you have any more questions about buying timeshare resales, please call the highly knowledgeable sales consultants at SellMyTimeshareNOW. Or to fill out an inquiry form, please click here.