Advantage Vacation and ARDA have put together a list of documents and paperwork you will need in order to sell your timeshare. The following checklist will assist you in gathering the documents and paperwork needed to sell a timeshare:
- the name, address, and phone number of the timeshare resort where you own
- the deed, and the contract or membership agreement which clearly identifies the time share you own
- the financing agreement – if you are still paying for the property the balance of your note will be paid in escrow
- any title insurance information
- any other information to identify clearly your particular interest or membership
- the exchange company affiliation (RCI, Interval International or other)
- the amount and due date of your maintenance fee, and whether it has been paid for the current year
- the amount of real estate taxes (if billed separately), the due date, and whether they have been paid for the current year
- whether or not your timeshare is a fixed week and/or unit or requires an advance reservation (a floating or flex-time timeshare)
- the date your timeshare will next become available for use by a new owner or when a new owner can first make a reservation
- gather copies of the documents governing the resort owner’s association, if any, the disclosure statement, resort’s rules and regulations, reservation rules and any other information that would be helpful to a new owner, such as area attractions and amenities on site or nearby
After making sure you have all the proper documents and paperwork needed to sell your timeshare – it’s time to consider how you are going to sell your timeshare interval. Selling a timeshare in today’s market is not as easy as a lot of people want you to believe and regardless of what some “expert sellers” may tell you, you should have a professional handle the transaction for you and contact a licensed timeshare resale broker.
Perhaps the most important reason why you should contact a licensed real estate professional to assist you in selling your timeshare is simple – timeshare is real estate and the majority of timeshares are deeded. Even if it is not directly deeded, a timeshare interval does represent a real estate interest and anyone involved in the sale of real estate is required by most states to be licensed.
By showing you comparable sales, the licensed broker is able to assist you in determining a reasonable and realistic asking price for your timeshare interval.
Importantly, when using the services of a licensed broker you’re assured the escrow will be handled by a third party licensed and bonded escrow company, all the paperwork will be handled professionally and promptly and title searches will be complete. A licensed broker should always recommend getting title insurance, when available, which is also done thru escrow.
Advantage Vacation is a member of the American Resort Development Association (ARDA) and offers the best buys on the timeshare resale market today. We never charge an upfront fee for clients who want to sell a timeshare and only receive a commission, paid from escrow, when the transaction is closed.
We have been in the timeshare industry for over 30 years and are Accredited Members of The BBB with an A + Rating.
We hope you will follow us and our blog, Timeshare Blogging by Advantage Vacation and make your voice heard – what questions do you have?
At Advantage Vacation you can be assured you are working with professionals who believe that honesty and integrity are the most important aspects of the business they are in – timeshare resales. Our business has been built on relationships and we pride ourselves on providing excellent service to our clients.
Would you like more information about Advantage Vacation?