STEP #4 Reassessment. Hey, what about the Internet! It’s national in scope and couldn’t cost too terribly much. But which site will give you the strategic exposure you need? Will your FSBO ad be effective or will your property get lost among the others listed there? And who will help you with answers to all of your questions? You’ve already called your resort, and they don’t have a resale program to help you out. (Some resorts have viable resale programs, some don’t.) At this point, you’re ready to turn the whole thing over to your neighborhood real estate agent since most timeshares are considered real estate. Then you discover that most real estate brokers are unfamiliar with timeshare much less getting it marketed, sold and closed. They specialize in traditional real estate (homes, lots, etc.) and therefore, probably will be unable to help you! So you venture out on your own to locate contracts and a title or escrow company to do the closing. Unfortunately, you learn that not all title companies close timeshare! Great. You’ve got to find someone who not only closes timeshare but also will get the job done right and fast not to mention, someone you can trust. Your week is coming up soon and your buyer could evaporate if it doesn’t close quickly!
STEP #5 The closing. Regrettably, you realize that contracts and a deed are needed, and finding a title or escrow company experienced in closing timeshare properties can be tough. Then you begin to worry. Maybe you’d better consult a lawyer to make sure your interests are protected but the legal fees will dilute what you hoped to net from the sale. By the way who pays the closing costs? How is the deed recorded? Will the buyer want title insurance? Will you be at risk from omissions or something overlooked?
STEP #6 Final funding. Whew! And still, the title has to be transferred. And, oh yes, at what point are the funds transferred? Will your buyer trust you enough to send you the money before you have provided him with title? Or Will you trust the buyer enough to pay if you deliver the deed before he has made payment? Will your points be transferable? Will your resort or the management company cooperate with you on the many items needing attention?
Obviously, this is only a snapshot of a timeshare FSBO and isn’t all-inclusive by any means; however, it may contain a few items that perhaps you had not considered if you are planning to put your timeshare on the market a For Sale By Owner.
]]>Okay. So, you’re ready to sell your timeshare, and you’ve decided to sell it yourself to avoid paying commissions. Here are some of the steps you will need to take to get your timeshare sold For Sale By Owner.
STEP #1 Advertising. You already know that in order to give your timeshare property maximum exposure in the secondary or resale market, you have to advertise it nationally. So, you place an ad in a major national newspaper. USA TODAY is probably one of the best publications to attract timeshare buyers. A one week minimum 4-line classified ad running M-F costs over $1,000. (Remember, local advertising by itself typically does not generate sufficient buyer exposure to get timeshare properties sold.)
STEP #2 Setting the price. It’s a good resort. But how should you price your unit? What will the market bear? You need to research the fair market value of your unit with similar units (i.e. same season”red, white, blue, green, yellow, platinum, gold, silver, bronze, high, medium, low, etc.; number of bedrooms, deeded, right-to-use, fixed, floating, bi-annual, quartershare or fractional, point systems, etc.) You don’t want it overpriced, but you sure don’t want your price eroded either!
STEP #3 Negotiating the sale. If a buyer calls, you have to SELL him on it, tell him how GREAT it is, how much FUN he can have, how the EXCHANGE program works, what the maintenance FEES are and still how much MONEY he’ll be saving over the retail price all the while crossing your fingers and hoping that he’s genuinely interested and not just shopping.
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Marriott's Mountain Valley Lodge Timeshare For Sale
There are several other timeshares available for sale at Marriott’s Mountain Valley Lodge that range from studio, one and two bedroom units, all seasons, and in all price ranges.
If you are ready to buy a timeshare, check out this timeshare buyers FAQ. There are lots of questions answered for you and they give a toll free number if you would rather talk to a timeshare specialist about buying a timeshare.
If you are ready to sell your timeshare, you can also find timeshare sellers’ questions answered HERE. Experience counts. Especially when the time comes to make a large buying decision. Do yourself a favor and read those guides before you make a buying or selling decision about a timeshare.
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