By purchasing a timeshare resale (timeshares for sale by owner) on the secondary market, you can save as much as 70% off the price of purchasing that same timeshare directly from a resort or vacation club. Find your deal in our extensive inventory to begin enjoying luxurious vacations at an affordable price.
Below you will find answers to the most frequently asked questions about time share resales. Read on to become well-versed in the intricacies of timeshare ownership and the resale timeshare industry. If you can't find what you're looking for here, one of our knowledgeable customer service representatives will be happy to assist you — call us at (877) 815-4227.
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Timeshares are a form of joint property ownership that enable individuals to own a set amount time (usually a week) in luxury resort accommodations each year. You can become a timeshare owner for a fraction of the cost of purchasing a vacation home. Click here for more general information on timeshares. A time share resale is simply a one which is being sold by the current owner rather than by the resort usually at a price lower than the time share's original retail value.
Vacation clubs are a type of points-based ownership (often referred to as a membership). Instead of a set resort week or interval, members receive an annual allotment of usage points that they can exchange for vacation accommodations at resorts within the club's network.
Point values for each night at a resort are assigned based on the popularity of the resort and location, the season, and the size of the suite. The more in-demand a resort week is, the more points it is "worth".
Points-based ownership allows for more flexible usage options, allowing you to book vacations for a shorter or longer period (or in a smaller or larger unit) than the traditional week-long timeshare interval.
Vacation club memberships can be bought and sold on the resale market, since membership is guaranteed with a legal deeded or right-to-use contract (see below) that can be transferred to a new owner.
Timeshare developers and resorts accumulate significant marketing related expenses by offering incentives in exchange for attendance at high-pressure timeshare sales pitches. Even if you don't attend one of these promotions, when you purchase directly from a resort you absorb the administrative and marketing costs for all buyers. When buying from a current owner, you pay only the fair market value of the timeshare - a price that's often 20 to 70 percent less than the retail price.
Pricing 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 timeshare value survey.
A maintenance fee is a mandatory fee that the resort management company or homeowners association charges its owners. This fee most often covers property taxes, utilities, insurance, and maintenance expenses including beautification of the unit and property. Maintenance fees are generally levied on annual basis, however, certain resorts may levy them monthly or biennially.
If you purchase a resale time share, you will be expected to pay all maintenance fees and dues.
In most cases, any and all rights of ownership are transferred when you purchase a resale. Restrictions apply for certain companies like Disney Vacation Club, which offers additional perks to members who purchase through the club rather than from an owner. Each buyer should consider his or her lifestyle to decide whether these additional perks are worth the higher cost of purchasing through the resort.
Resale timeshare closings can be 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. For most buyers and sellers, we recommend working with Chicago Title Timeshare. Buyers, please be aware that in almost all cases you are expected to pay the fees associated with the closing and transfer of the title.
Click here to learn more about timeshare closings.
YES. In fact, SellMyTimeshareNow has partnered with Prosper.com to offer competitive financing to timeshare buyers (refinancing is also available to current owners). With fixed rates as low as 6.59% and flexible repayment options, there isn't a better way to finance your dream vacation property. Click here if you are interested in timeshare financing from Prosper.
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If you have any more questions about time share resales, please call our knowledgeable staff today at (877) 815-4227.