If you are ready to sell or rent your timeshare, the last thing you need is a long, stressful process. Great news, we will help you sell or rent your timeshare property!! As you read through the following frequently asked questions, they will illustrate how easy it is to sell or rent your timeshare property when you are working with a dependable and cutting edge timeshare resale company like International Timeshare Association. We have many skills and tools at our disposal to help you sell or rent quickly. Don't delay any longer; we're ready when you are!
Is a Real Estate Broker required to Sell or Rent My Timeshare?
No, since a timeshare is not a traditional piece of real estate, a brokerage is optional. Why pay a real estate broker between 20% and 50% commission for something you can handle yourself. International Timeshare Association will help you sell or rent your timeshare as well as offer professional guidance throughout the process.
Is an Appraisal needed to Sell My Timeshare?
No, your timeshare property was not appraised when you purchased it and doesn’t need to be appraised to sell it.
Do I Need a Lawyer to Handle the Closing?
International Timeshare Association recommends the use of a licensed and bonded title company. This company will handle the entire closing procedure, which includes: escrow of funds, deed preparation, closing statements and recording fees.
If I still owe money on my timeshare can I sell it?
Yes! The only requirement is the balance owed on the property needs to be paid in full before ownership of the property can change.
How long does it take to Sell My Timeshare?
Since there are many factors that influence the sale process, such as: location, resort quality, flexibility, season and price, it is difficult to determine an average length of time that it will take for the property to sell.
What does Right of First Refusal (ROFR) mean?
When a buyer and seller come to a purchase agreement, the resort at which the property is located has the first right to purchase the property for the agreed upon terms. If the resort exercises their right they will buy back the timeshare. If they waive their ROFR you can then proceed with the buyer to complete the purchase.
Can I close my Timeshare if I lost my Deed?
Absolutely! The closing company can recover the deed by contacting the county courthouse. The fee to process this request is usually around $25 US.
How long does it take to close a Timeshare?
Generally the closing process is complete in 6 to 10 weeks.
What happens to my Banked Time if I Sell?
Once your time is deposited with the affiliated exchange company, the week is no longer affiliated with the resort. Therefore banked weeks are not affected by the sale of the resort. Your banked time can be used or included with the sale if you choose.
Who is RCI?
Resort Condominiums International, or RCI, allows timeshare owners to trade their timeshare weeks with other timeshare owners around the world. RCI is the oldest and largest exchange company worldwide. With almost 30 years in business, RCI currently works with over 3000 resorts in 85 countries.
Who is II?
Interval International, or II, is the second largest and second oldest exchange company behind RCI. With over 1,600 resorts in 35 countries around the world, II operations are much like RCI, offering superior exchange services for its clients worldwide.
May I rent my week out?
Once you become the legal owner of a timeshare, you may rent it out as you wish.