Frequently Asked Questions
How do I rent or sell my timeshare?
Because timeshares are an investment into your future travel plans and not a financial investment, many owners are surprised to learn that timeshares are not typically rented or sold like traditional real estate. When it comes to Timeshare, there is no Multiple Listing Service, you can’t stick a sign in front of the timeshare and you can’t take a prospective buyer/ renter on a tour of the unit like regular real estate. In order to rent or sell your timeshare, you must let people know it’s available for rent/ sale and generate exposure.
If I Still Have Financing on My Timeshare Can I Sell It?
Yes! You can resell a timeshare even if you’re still paying monthly payments on the financing. What you owe will simply be taken out of the buyer’s purchase price during the closing process.
What Does Right of First Refusal (ROFR) Mean?
When a seller and a buyer come to a purchase agreement, the resort at which the timeshare is located has the legal right to purchase the timeshare for the agreed amount. If the resort enforces their right, they will buy back the timeshare. If they waive their ROFR, the original sale can proceed. In either case, you – the timeshare reseller – will receive the same amount for the sale of your timeshare.
What Happens to My Banked Time If I Sell?
If you have deposited your week or points with an affiliated exchange company, that interval is no longer affiliated with the resort. So the sale of the resort timeshare doesn’t affect banked weeks or points. The banked time can be used by you or included with the sale as an added incentive for buyers.
How Long will it Take to Rent or Resell My Timeshare?
No one can accurately determine a specific length of time within which your property will be rented or sold. There are many factors that will influence the rental and resale of your timeshare including location, quality of resort, flexibility of usage, time of availability, demand, and of course price.
What does “RCI” or “II” mean?
RCI (Resort Condominiums International) and II (Interval International) are exchange programs. Exchange programs allow owners to exchange a vacation week for a week at any participating resort. This type of membership allows additional flexibility in ownership.