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Can I Resell My Timeshare? 3 Factors to Consider

Can I Resell My Timeshare

November 24, 2018 – by Primo Management Group

Can I Resell My Timeshare

Many timeshare owners are asking, “Can I resell my timeshare?” Check out 3 key factors that determine the answer.

As with most timeshare questions, the answer to “Can I resell my timeshare?” is maybe. Timeshare contracts are highly specific and can vary a lot from contract to contract, even within the same resort. These three factors will help you figure out the answer.

Does Your Contract Allow Resale?

Not all contracts will allow you to resell your timeshare. If your contract does not allow you to resell, then sadly, you’re out of luck. Or if they do allow resale, you may be required to offer the resort first right of refusal. In that case, the resort would have the right to buy your timeshare before you sell it to anyone else.

Additionally, there may be limitations on the rights and benefits the new owners would have. For example, Marriott limits the rights of owners who purchase on the secondary market. According to the Marriott Vacations Worldwide’s 2015 Annual Report, “Owners who purchase vacation ownership interests on the secondary market typically do not receive all of the benefits that owners who purchase products directly from us receive. . . such as the right to reserve a resort unit that underlies their vacation ownership interest in order to occupy that unit or exchange its use for use of a unit at another resort through an outside exchange service provider.” Limitations like these may make your timeshare less attractive to prospective buyers, which may mean you’re unable to sell because you can’t find a buyer.

What is the Value of Your Timeshare?

The issue of timeshare value is a tricky one. As with traditional real estate, the value of a timeshare depends on location, location, location, especially for fixed-week or deeded timeshares. If your timeshare is in a highly desirable location or coincides with a highly desirable week, then your value will be higher. Age and amenities will also factor in. However, you must also consider your annual maintenance fees and your maintenance fee history. Hefty fees or steep increases over time will affect what you can charge for your timeshare. Keep in mind that your resort may charge transfer fees or commissions on the sale.

Would Anyone Want to Buy It?

We can’t really imagine why people would want to buy a lifetime of fees. But let’s say someone does want to buy a timeshare. The real question is, do they want to buy your timeshare from you? For your sake, we hope so. However, you may find it difficult to resell. After all, many other timeshare owners are also looking to unload timeshares for various reasons. A quick internet search will bring countless listings at rock-bottom prices. Many owners try and fail to sell or get scammed in the process. There are no guarantees in timeshares, except the guarantee your maintenance fees will go up over time. And if the cost to rent a unit at your resort exceeds the maintenance fees? Well, it’s going to be much harder to find a buyer.

So, you may be asking, “Can I resell my timeshare?” Truthfully, it’s hard to do. Luckily, if you’re looking to get out of your timeshare, the complex resale process is not your only option. We help people get out of their timeshares every day, often after they’ve failed at resale. Contact us for a FREE consultation to see how we can help you.

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Frequently Asked Questions ?

How does PMG get me out of my timeshare contract?

PMG is not a resale, transfer, or donation company. We are consumer advocates—we help to negotiate the release of your timeshare contract obligation. We do not buy, sell, or rent your timeshare. Simply put, we help you to get out of your timeshare contract forever.

How long does the process usually take?

Usually less than 12 months, but it all depends on your situation. If your timeshare is free and clear with no mortgage, then the process may only take 3-9 months.

Speak to your advisor about the time, and what delays the resorts have put into place to prevent timeshare owners from departing their ownership. If you have a mortgage or past due maintenance fee, the process takes more time.

How much is my timeshare worth?

This is probably going to hurt, but whether you paid $5,000 or $50,000 for your timeshare, the IRS values all timeshares as worthless investments. In addition, that timeshare would have negative value due to the annual maintenance fee bill which compounds year after year. That is until PMG helps you cancel your timeshare.

Can I use your service if I still have a balance owed on my mortgage?

Yes. Whether you bought your timeshare 20 days ago or 20 years ago, PMG has a solution for you and is here to help.

Will my name be off the timeshare?

Yes! Permanently! GUARANTEED!

In addition to getting me out of my timeshare, can you recover the money I’ve already spent on mortgage payments and maintenance fees?

While we are able to recover money in rare cases, beware of any timeshare cancellation company that entices you with the promise of fund recovery. The truth is, timeshares are loath to give back the money they’ve already taken.

Are your consumer advocates really “consumer advocates”, or is that just a fancy word for salesperson?

Because most of our clients have had their trust betrayed by timeshare salespeople, we understand how some consumers can become a bit jaded. When you call us for a consultation, that’s exactly what you get, a consultation. At PMG, our job is not to sell you; our job is to help you get out of your timeshare. Which is why we have numerous 5-star reviews and an “A” (excellent) rating from the BCA.

Why should I choose PMG to get me out of my timeshare?

We pride ourselves on providing our customers with the best customer service in the industry. When you contact our company, you speak to a live person, not an automated system or voicemail. We go above and beyond for our customers by helping you to protect your credit and even repair your credit if needed. We offer a 100% money back guarantee, and we can provide documented proof of our success in helping customers just like you.

What happens after I sign up with you? Will I be apprised of your progress?

At PMG, we pride ourselves on our hands-on, boutique-style customer service, so every new client is assigned a case manager whose job is to keep you in the loop throughout the entire cancellation process. Your case manager is always just a phone call away.

How much is your fee?

Not all timeshare experiences are created equal. Some are more complicated than others, and every situation is different. That’s why our trained timeshare elimination consultants will ask you a series of questions designed to determine exactly what needs to be done to terminate your timeshare, how long it will take, and how they can best advocate for you. We will always seek the most cost-effective route for you.

What if I still have more questions?

Canceling a timeshare contract is not a cookie cutter process. With each situation being unique, once you complete the form below an experienced consumer advocate will call you today to discuss your options.