You wouldn’t buy a time share without finding out everything about it, so when it comes time to sell your own time share, make sure you have got all of the information and necessary paperwork at your fingertips. Being prepared when selling time shares can help to speed the process up, which is preferable if you are hoping for a quick sale.
There is a lot of information that you will need to provide in order to complete the sale.
At the very least, you will need to provide the name, address and contact details of the time share property or resort. You may also need to provide details of any exchange companies affiliated with the resort.
A buyer or agent who is authorised to sell time shares will want to see your existing deed or contract, so they can clarify that you are the owner. Any other information you may have to prove your membership may also be required, including any title insurance information. For legal purposes, a potential buyer will also need to know if your time share is regarded as real estate or personal property, so get clued up on this before you put your timeshare up for sale.
If you are still paying for the property, you will need to provide details of the financing agreement. Buyers or agents will also need to know how much in maintenance fees you pay and when they will need to be next paid, as well as if they have already been paid for the current year. If there are any real estate taxes not paid on the time share, these will also need to be disclosed.
Time Share Specifics
A potential buyer will want to know when your time share is available for use or when they are able to make a new reservation. They will also want to know whether it is a fixed week or floating week. Make sure you have this information to hand, as these aspects are key influencing factors when selling time shares.
Provide as much up-to-date information as you can about the resort. As well as the amenities, facilities and attractions on offer, documentation that details information about the resort’s rules and regulations or owners’ association will prove crucial in the selling process. Check with the resort to ascertain if they may also require any information or documentation to complete the sale. The resort information specifics are your chance to help market the time share positively, so be enthusiastic without being dishonest in any way.
Since there are so many aspects to consider when preparing to sell your time share, in order to help speed up the process you may find that using an expert broker or agency can take the stress out of the task for you.
- Wednesday, 16 September 2015 07:08