Beware of Illegitimate Ways to Sell Timeshare

Sell timeshare issues draw a lot of inquiries from timeshare owners recently in the US where approximately 4.4 million households own one or more. In Florida and California alone, where most timeshares exist, a number of companies had been established promising to help timeshare owners sell their timeshares effectively and worry-free.

But beware of crafty sales presentation of some timeshare resale companies who would do anything to get timeshare owners to sell timeshare to them – invading phone lines, filling up mailboxes, and spamming emails. In the end only to find out that they cannot really sell your timeshare in the agreed time-frame returning only a very little worth of bond. Please be mindful of the following measures (excerpted from a 2006 cooperative agreement between the Better Business Bureau and the U. S. Federal Trade Commission) to determine the safety and legitimacy of selling your deeded timeshare through a legitimate company:

Top Ten Checklist to Sell Timeshare

  • Jot down all the information of the agent who contacted you (Name, Name of the Company, Phone Number, Email, etc.)
  • Check for the company’s Better Business Bureau (BBB) registration
  • Contact the company to determine if the agent is currently working for the company
  • Do not agree on anything on the phone or through emails. Let the agent visit you personally
  • Ask for the agent’s license to sell any real estates or timeshares in your area or the place of your timeshare. Dealing with legitimate brokers will reduce the risk of being a scam victim
  • Get the details on how the agent will effectively sell your timeshare in the desired time
  • Determine the fees that allow them to sell timeshare. Some would normally ask for a service fee to sell your timeshare but be mindful of refund policies should the agent fail to sell your timeshare in an agreed deadline
  • Have everything agreed documented and signed by parties involved
  • Ask for the company’s timeshare value appraisal schemes so you can personally assess the value of your timeshare
  • Before signing, make sure you understand the terms and conditions stated in the selling contract – services, fees, commissions, payment terms, selling time-frame, and closing the sale

Although to sell timeshare can be the same as selling any real estate property, you should also take into consideration the terms and conditions of the contract you signed with the timeshare developer where you purchased your timeshare. Prepare the following items to ensure the timeshare sale goes smoothly :

  • Registered name of the timeshare developer, address, and telephone number
  • The timeshare contract of your deeded timeshare ownership
  • Payment agreement between you and the timeshare developer, especially when still actively paying for them.
  • Information on interest terms and membership terms
  • Legitimate affiliation of the timeshare developer
  • Due date of the maintenance fee of the timeshare to sell
  • Taxes associated with timeshare ownership, especially when it is beyond the deeded timeshare contract

For a risk-free sale of your timeshare, you can verify the company’s affiliation to American Resort Development Association (ARDA), a trusted name in the vacation ownership (like timeshare) and resort development industry. Its roster of members includes around 1000 major companies in the US and overseas. Sell timeshare safely today!

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