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FREQUENTLY ASKED QUESTIONS
Q. What is involved in selling my timeshare?
A. There are a few things you should understand before responding to a request for more information or an offer to purchase your timeshare:
1. Be Wary of Potential Buyers!
- Not every offer or question will lead to a sale. Buyers often submit false information because they are not serious about buying a timeshare. If you try to contact a potential buyer and you cannot reach them through e-mail or telephone, more than likely they are not a legitimate buyer or have changed their mind about the offer.
- Do not give out too much personal information about yourself or your timeshare! It is not necessary for a buyer to have your account number, social security number, or address when they are submitting an offer. The only person who should need this type of information is the closing agent in charge of transferring ownership of your timeshare to the buyer. Another thought is to limit the times buyers may contact you. If give out your home phone number, a buyer may try to call you at times which are not convenient for you (such as dinner, late night, etc.) Try not to give out your home number if possible. Perhaps try a cell phone that can be turned off when you are not available to answer calls.
- If a buyer has questions, make sure you know the answers before you give out incorrect information. A buyer can be very particular about what he/she is looking for. If you cannot answer the buyer’s questions accurately or you are unsure of the answer,, refer to your original paperwork or contact your resort directly.
Q. Are there any fees Involved with Selling my Timeshare?
- Cashoutatimeshare.com is a licensed real estate brokerage, and our operations are similar to those of typical residential real estate brokerage. We do charge a fee in the form of a commission to sell your timeshare. This fee is not an “up-front” fee, but rather paid when the timeshare is sold. Commissions can vary based on a number of factors. For more detailed information on the fees we charge, please contact us.
- The buyer typically pays for all closing costs, unless negotiated differently. The average fees for closing are around $650.00. If you are negotiating with the buyer, it is important to keep in mind that there will be an additional expense for closing that should be considered for the purchase your timeshare!
Q. What Happens when I have a Buyer willing to Purchase my Timeshare?
- If you have come to an agreement with a buyer, the first step is to put everything in writing. Using the services of a brokerage comes with a professional binding contract. We will process these forms and coordinate everything with a reputable closing company. A closing agent will then contact you as soon as they receive the documents.
- Once the closing company receives the documents, they will be your point of contact through the remainder of the closing process. They are responsible for transferring your timeshare membership to the buyer. Because we work with various closing companies depending on the resort, we will provide you with all the pertinent contact information as soon as everything is sent to closing and follow your file until your ownership is transferred to the buyer .