I have been searching for a while for information about selling my timeshare. I began with a basic inquiry to my timeshare resort to see if they would sell it for me. No luck there. All they seem interested in is collecting my maintenance fees every year.
Next I did a Google search for “sell my timeshare” and got 14 billion results. Somebody want to wade through all those results for me?
Then I called on my local Realtor in California to help me out. He had no idea what timeshares were.
Then I recalled I had an old friend that worked in the timeshare resales business and I called him.
He suggested that before enlisting the help of any timeshare resales company that I ask them these three questions:
1. How many timeshares has your brokerage sold? That trips up quite a few from the start. That is because so many companies that claim to help you sell your timeshare never actually do any selling. They’d have no clue what to do with a timeshare sales contract if they got one. Nothing sells like experience – especially when a real property is involved. Without that specific kind of experience you’d be taking a huge risk of that person leaving out a key step in getting your timeshare OUT of your name and IN to the buyer’s.
2. What type of license do you hold to do business? And where can I verify that? You wouldn’t believe how many times I got a dial tone after asking that question. If they are a reputable company they should hold a real estate license, a broker license, or at least belong to a professional association that validates their credentials. Along the same lines would be asking for a street address. Where is their office located? Are they members of a Chamber of Commerce or Business Association?
3. What fees are involved in selling my timeshare? They should disclose everything from the beginning. They should address things like: Who will pay the closing costs? Who will pay next year’s maintenance fees and taxes? What is the name of the title company you have used before? What are the title company and escrow fees? Who pays those fees? What is the sales commission?
If a timeshare resales company can satisfy me on all three questions I have a better chance of getting my timeshare sold without any surprises or crises.
It is worth the time it takes to ask these questions before getting wrapped up in the emotions of selling your timeshare.