What does it mean to resale a timeshare?

What does it mean to resale a timeshare?

Timeshare Resales. Timeshare resales are timeshares for sale by owners who no longer wish to use them. Timeshare resales are the secondary market for timeshares, and are typically priced 30-50% below the original developer or resort price.

How many timeshares are there in the US?

In 2016, there were 1,558 timeshare resorts just in the U.S., with an average of 132 units per resort. A timeshare gives you partial ownership in a vacation property. You can even think of it as owning shares of stock in the vacation rental.

How often do you have to renew your timeshare contract?

For example, you may buy into a timeshare that gives you the right to use that property for the second week in June each year for five years. After that five-year deadline, you may be able to renew your contract or opt out of the property. However, not all RTU timeshares necessarily have an expiration date,…

Do you have to mark up the sale of a timeshare?

Timeshare development companies must mark up the sale of each timeshare to absorb some very expensive marketing costs. Someone has to pay for all those free vacations, theme park tickets, and restaurant vouchers developers give away. That someone is the consumer who buys timeshare directly from the developer.

What happens during the timeshare resale closing process?

This is to ensure a smooth, efficient and timely closing. During our timeshare resale closing process, our closing company obtains the seller’s authorization for the sale and then contacts the resort regarding the seller’s account status. Such things as late payments or first right of refusal will be dealt with or contracts prepared if needed.

Can a seller of a timeshare be real?

Sellers may not be real and the timeshare may not even exist, or at least not as described. That is why Timeshare Sales Team has a licensed and bonded closing company supervising every owner’s timeshare resale. This is to ensure a smooth, efficient and timely closing.

What happens when I Sell my Time Share?

When selling a time share, there are details within your contract that state the resort developer has the right to purchase the timeshare back at the same price as the offer, or waive their right to allow someone else to purchase. This is also known as the ROFR and can take a few weeks to get a response back.

What happens to the timeshare building in Reno?

The high-rise timeshare building will then be converted by new owners into Reno’s newest (but older) downtown hotel or condominium.