Each year, timeshare ownership increases by 15% while another 15% of timeshare holders practice timeshare exit. If you’re looking into timeshare resale, you’re not alone.
If you’re looking to sell your timeshare, you’ve probably discovered that these companies don’t make it easy. It can seem like you’re locked into your timeshare forever!
The good news is that there are ways to get around your timeshare contract and make the resale. It does take a little know-how and effort.
Read on for our complete checklist for selling your timeshare.
Gathering Documents and Information for Timeshare Resale
First, you’re going to need to make sure that you have all of the right information and relevant documents. This can get a little bit complicated, so we’ll lay it out piece by piece. Make sure that you have the following information:
- the name and address of the timeshare you want to sell
- the contact information for the resort or timeshare company (phone number and email address)
You will also need proof of the following:
- title insurance information
- exchange company affiliation
- the amount of your maintenance
- the due date of your maintenance fee and whether or not you’ve paid it this year
- the amount of real estate taxes if these are charged separately from other fees
- the due date of real estate taxes and whether or not you’ve paid them this year
- information regarding the type of timeshare you own (ie floating or flex-time vs fixed)
- the next available date that your timeshare may be used by the new owner
Finally, you will need the following documents:
- the deed and contract clearly stating your ownership of the timeshare
- the financing agreement for your timeshare
- any documents that detail the rules and regulations of the timeshare
You may also want to put together any documents or information regarding the general appeal of the timeshare. This can include information about nearby attractions, resort-based amenities, and more.
Handing Off Your Timeshare Resale to the Professionals
Once you have gathered all information and documents needed, it’s time to get a third party involved. Specifically, you want to work with a broker or organization with experience selling timeshare ownership.
Why? As we mentioned earlier, the process isn’t always easy. Professionals can help you navigate your contract and avoid any unnecessary fees or costs. They can also help you get the best resale value by matching you up with interested buyers.
Other People Are Selling Their Timeshare and You Can Too
When you start considering timeshare resale, your first step is to turn to the timeshare contract. However, you’ll quickly notice that timeshare companies and resorts don’t make the process simple.
Don’t get discouraged! Timeshare resale is possible and it’s happening every day. You, too, can sell your timshare.
Now that you’re not locked into your previous timeshare, it’s time to decide where to travel next. Take a look at our travel and leisure content to find the perfect vacation for you and your family!