Sell Your Timeshare

TIP: TIMESHARE RESALES

sellmytimeshare — Thu, 16 Oct 2008 13:17:39 +0000

Unfortunately, timeshares very rarely sell on the resale market. ARDA (American Resort Development Association) did a study back in 2008 that should only a fraction of 1% of millions of timeshares actually sell on the resale market. For those of you that want to use a resale or rental company to sell it please do not do it, you have a better chance of winning the lottery! There are companies out there that will legally get you out of your contract and guarantee their services. We are currently investigating a few of these companies and when we find out which one(s) are legitimate we will add a new post with our findings.

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HOW SOON MAY I USE MY PROPERTY AFTER I PURCHASE IT?

sellmytimeshare — Mon, 08 Sep 2008 02:05:10 +0000

As soon as the ownership has been transferred into your name, you may contact the resort and exchange company to start active participation. As long as the week is still available for that year you may use in the same year you bought it.

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MAY I EVER SELL MY TIMESHARE?

sellmytimeshare — Mon, 08 Sep 2008 01:55:57 +0000

Yes. Once you are the legal owner of a timeshare week, you may sell it at any given time. The way to sell it is the secret question that the resorts don’t want you to know.

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WHEN WILL I GET MY DEED/CERTIFICATE TO THE PROPERTY?

sellmytimeshare — Mon, 08 Sep 2008 01:51:20 +0000

The usual time frame is ninety to one hundred and twenty days, before you will receive the legal deed/ certificate. There are exceptions to this, as some counties take longer to process transfers. There are also legal issues that can hold up the paperwork.

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ARE THERE FEES INVOLED IN THE PURCHASE OF A TIMESHARE?

sellmytimeshare — Mon, 08 Sep 2008 01:34:09 +0000

Yes. As in many property transfers there are fees involved. You should expect to pay for preparation of the transfer documents, a maintenance fee and the recording and transfer fees which are determined by the county and resort. These may total a couple to several hundreds of dollars. Of course, all costs will be disclosed and accounted for before you purchase.

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WHAT IS A VACATION CLUB?

sellmytimeshare — Mon, 08 Sep 2008 00:22:50 +0000

Vacation clubs are organizations that may own units in multiple resorts in different locations. Some clubs consist only of individual weeks at other developer’s resorts. They are sold both as deeded or right to use and club members may reserve vacation time at any of the owned resort units based on availability. Vacation clubs cater to a wide range of economic backgrounds and income levels.

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WHAT IS A STOCK COMPANY PROPERTY?

sellmytimeshare — Mon, 08 Sep 2008 00:21:26 +0000

Resorts issue shares of ownership in the property or properties which they are selling. Rather than owning a deed to a property, you own shares in the company which entitles you to vacation time each year.

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WHAT IS LIFE PROPERTY?

sellmytimeshare — Mon, 08 Sep 2008 00:14:40 +0000

A membership which allows usage each year for the owner’s lifetime. Unlike deeded property where you can pass it on to your heirs, life property ends after the death of the owner.

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WHAT IS LEASED OR CERTIFICATE PROPERTY?

sellmytimeshare — Mon, 08 Sep 2008 00:09:25 +0000

A right to use your timeshare for a specified number of years. At the end of this period the property reverts back to the developer. Some resorts allow accelerated usage which means that you may borrow usage from future years. to do so you will normally pay the maintenance fees for the accelerated usage.

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WHAT IS A DEEDED PROPERTY?

sellmytimeshare — Mon, 08 Sep 2008 00:03:02 +0000

A deeded property is one in which the property title does not expire. Once you own it, it’s yours until you decide to sell it, much like home ownership. Deeded properties may also be passed to your heirs. There are a couple differences between home ownership and vacation ownership, one of the biggest differences is you can not make changes to your unit. You can make changes and upgrades to your house which helps the value go up but because you can’t make changes to your timeshare the value won’t go up as fast as a house.

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