How to Sell a Timeshare Deed
Traditionally, timeshares have been perceived as fixed vacation weeks, but sometimes we’re asked “how to sell a timeshare deed” so we’d like to address this question specifically.
When you purchased one week of timeshare you either entered into ownership of deeded vacation time at the resort property or a right-to-use the resort property. With right-to-use arrangements the resort owns the deed, and you basically “lease” the time at the resort for x number of years (usually 20-40).
Sometimes right-to-use arrangements are referred to as points-based ownership because you’ve essential bought points that could be used for resort stays and possibly car rentals, cruises etc. With deeded arrangements you own a physical deed to vacation at the resort. Deeded timeshare ownership can also be in the form of points ownership, as is the case with Disney Vacation Club. There are positives and negatives to each arrangement, but in this article we’re going to focus on the selling process.
The Selling Process
There are some technical differences between the two types of arrangements, primarily involving the closing process following the sale, but generally speaking the process to sell a timeshare deed is same as with an RTU timeshare.
You can either use a licensed timeshare broker, such as our sister company Timeshare Broker Associates (TBA), or a website such as SellaTimeshare.com to help you find a buyer for your timeshare. If you choose to use a broker, a commission fee, usually about 15% of the sale price or a flat fee of $1,500, is paid when the timeshare sells. If you choose to advertise your ownership on our high-traffic website, SellaTimeshare.com, you won’t have to pay any upfront fees. You can get started today!
If you use a timeshare broker you won’t need to worry about the differences in the closing process between right-to-use and deeded ownership arrangements because the broker will facilitate the process with the closing company. If you choose to advertise on SellaTimeshare.com, you will save by not paying an advertising fee, but you should understand the differences in the closing process between the two types of arrangements to successfully complete the sale.
Should you find a buyer on your own, you could hire a broker to help out with the sale paperwork for a small fee of about $300. Also - keep in mind that the 15% commission fee can be paid by the buyer, but not in all instances, depending on the negotiation.
Deeded vs Right-to-Use Closing Process Differences
This process differs state by state and by resort in most instances, so there is no generic, blanket way to describe the differences. For example, in South Carolina all resale contracts need to be reviewed by a lawyer. This is not the case in Florida though. Some resorts require transfer fees, some don’t. It can get very tedious.
Generally, it can be easier to close a right-to-use timeshare because the ownership is held in Trust and does not need to go through the recording process with local government authorities as with a deeded timeshare. One similarity is that you’ll almost always have to have your maintenance fees paid in full before you’re able to sell. Learn more about the negative consequences of not paying your maintenance fees here.
If you’ve found a buyer on your own for your timeshare, your first course of action would be to research timeshare sales contracts so you can get the buyer’s commitment in writing. Once you have a signed written agreement, you will want to research ways to secure a down payment and find a trustworthy closing company that can handle the closing process for you. You’ll also want to begin doing research on exchange company transfer forms in case the buyer wants to enroll in the exchange company affiliated with your resort.
All of these issues can easily be handled by a timeshare resale broker and take on the work for you so you don't have to. When sellers advertise their right-to-use or deeded timeshares for sale here on Sell a Timeshare, buyer offers placed on those ads are vetted by licensed TBA agents so they can be verified as legitimate offers and not just placed by rogue companies trying to get your personal information.
Because of our process (combining the online marketing strategies of SellaTimeshare with the support of TBA agents) it is a simple option to have TBA handle all of the paperwork, collection of deposits and working with the closing company on your behalf. Since there are no upfront fees involved, you can even talk to a TBA agent to see about having the buyer pay the commissions and closing costs.
Want to get started? Sign up here and advertise to sell your deeded timeshare.
