Timeshare Seller Frequently Asked Questions
If you are thinking about selling timeshare, chances are you have a lot of questions. Our FAQs provide answers to many of the most commonly asked questions when it comes to reselling timeshare.
Before you sell timeshare, read this page to make sure you are completely informed and have all the information you need. If you have any remaining questions after reading our FAQs, please do not hesitate to contact us at 1-844-202-7611. Our knowledgeable timeshare experts will be happy to help you!
Frequently Asked Questions on Reselling Timeshares
Can I resell a timeshare originally purchased from the resort?
Yes, whether you own a deeded or Right-to-Use (RTU) timeshare, or a vacation club membership originally purchased through your resort developer, you are entitled to resell it.
What is the Right of First Refusal (ROFR)?
Right of First Refusal is a clause which allows the resort where your timeshare is deeded to purchase the timeshare back for the listed price before any private buyer. Timeshare sellers are required to alert the resort when they have agreed on a sale price with a buyer (if you decide to resell timeshare through a timeshare specialist, the specialist will contact the resort on your behalf). If the resort declines their ROFR, then you may continue with the private buyer.
Do I need to have my timeshare appraised before selling it?
The short answer to this question is no. Paying for a timeshare appraisal is simply a waste of your money. Some unscrupulous timeshare resellers will insist that you need to pay for a timeshare appraisal, but it is simply a way for them to extract more money from your pockets.
Instead of paying for an appraisal, a Comparative Market Analysis (CMA) is a much more cost-effective alternative, particularly since TimeshareHotDeal.com can provide you with one for free. Our market value survey produces a figure based on the value of your unit compared to the selling price of other similar units, taking into account various factors including week, usage type, season, and unit size. Find out what your timeshare is worth, or if you don’t want to wait, call us now at 1-844-202-7611.
Can I sell my timeshare if I have lost my deed?
Yes, you can still resell timeshares even if you have lost your deed or RTU lease agreement. If you have misplaced your deed, the closing company you choose (we can recommend a reputable one for you) can contact the appropriate authorities to recover it. Usually they contact the county courthouse in the region in which your resort is located. The fee for this service varies per timeshare and country. If you do not currently have a deed, try to locate a past maintenance fee bill to gain information regarding your ownership.
Can I sell my timeshare if I still owe a mortgage?
Yes and no. You can advertise your timeshare and seek out a buyer, but in order to resell timeshare which is still under financing, you must pay off the balance before the title can be transferred to the new owner. If you are unsure how to sell timeshare because of a situation like this, you may wish to work with a licensed timeshare agent who is experienced in reselling timeshares and can handle such legalities for you. Typically, those sellers who owe a mortgage add the amount owed to the sale price.
If I am reselling timeshare, do I have to go through a broker?
Selling timeshare through a broker is optional. In many cases, timeshare sellers prefer not to pay a commission for the services of a broker. With effective timeshare advertising like that provided by TimeshareHotDeal.com, in many cases, you can easily find a buyer on your own.
Other timeshare resellers prefer to work with a licensed timeshare broker, because it can dramatically simplify the process of selling timeshare. As such, TimeshareHotDeal.com is proud to offer both for-sale-by-owner advertising and full-service timeshare brokerage. We recommend our licensed brokers to any owner who does not have the time, experience, or desire to negotiate a sale independently.
Do I need a lawyer during the timeshare closing process?
It is very important to us that every timeshare seller that works with TimeshareHotDeal.com receives the best service possible. As such, we are affiliated with a licensed and bonded closing company that can help you throughout the timeshare closing process for a low-flat rate (fees are usually paid by the buyer, unless you negotiate differently). These services include:
- Deed preparation
- Escrow of funds
- Estoppel certificate
- Closing statements
- Recording fees
- Transfer of funds
All title work will be assessed by a licensed attorney and is fully guaranteed, so you do not need to pay additional legal fees.
How long does a timeshare closing usually take?
The time frame will vary by timeshare and is usually contingent upon the resort’s response time. Typically a timeshare closing usually takes between six and eight weeks to be fully completed, but on some occasions can take longer.
Important Information for Timeshare Sellers
If you have any more questions regarding how to sell timeshare, please feel free to contact us today at 1-844-202-7611. Reselling timeshares does not need to be a hassle or a complicated process when experts like those on staff at TimeshareHotDeal.com are standing by to help you.