What is Timeshare Right of First Refusal?

The term Right of First Refusal (ROFR) is a specific sales clause that might exist within your timeshare contract. This clause grants your timeshare brand/resort the right, if they so choose, to purchase back your timeshare in the event you are looking to sell it. If you have an ROFR clause within your vacation ownership contract, you’ll need to contact your resort before selling your timeshare independently on the secondary market.

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How Timeshare Right of First Refusal and Timeshare Resales Work

If you’ve been considering selling your timeshare and have a ROFR clause in your ownership contract, here’s what you’ll want to do:

  • Determine your timeshare resale value—Finding out a timeshare's value can be completed by getting a timeshare value analysis from a resale expert and/or by finding an agreed-upon price with an interested buyer.
  • Contact your Home Resort—You’ll want to make them aware of your desire to sell your timeshare and what you could potentially be selling it for.
  • Wait for their response—If your timeshare brand/resort wants to buy your ownership back, they will exercise their right of first refusal and will accept to purchase it the amount you were going to sell it for. If they decline, you can move forward with selling your timeshare through the secondary market.

Need Help Understanding ROFR Timeshare Clauses?

Timeshare brands might enact this contract clause to ensure their timeshares are being resold at a price that is fair and true to value. The only difference in your resale if they do choose to exercise their ROFR is that you will be reselling the timeshare back to the resort for the same price you agreed upon with the interested buyer.

Timeshare right of first refusal can be confusing and vary based on individual situations. Our team of independent timeshare resale specialists can assist you with insights on ROFR and the entire timeshare resale process. Call us today to learn more at 1-877-815-4227.

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