Years ago, you purchased a stunning Florida timeshare that brought you unforgettable memories and a blissful escape from everyday life. But eventually, life changed, and that home away from home just didn’t make sense anymore. It happens, but placing your ownership on the resale market doesn’t have to be stressful. As a credible timeshare resale company, Fidelity Real Estate makes posting your timeshare for sale as effortless as the vacations were. If you are wondering how to sell a timeshare in Florida the right way, you have come to the right place. In this blog, we will cover tips, tricks, and potential pitfalls of the resale market so you can rest assured that your ownership is safe in the hands of a legitimate timeshare resale company like Fidelity Real Estate.
Do I Need a Real Estate Agent to Sell My Timeshare in Florida?
Simply put, yes and no. Timeshare resales can be tricky, and most real estate agents or brokerages do not specialize in the timeshare resale market. Therefore, they likely won’t understand how to navigate the resale market. So odds are, if you visit your local real estate agent or brokerage, they’re going to refer you to a specialized service with loads more experience in timeshare resales.
Enter us, Fidelity Real Estate. Fidelity is a full-service licensed real estate brokerage with over twenty years of experience selling timeshares on the resale market. We are experts and your champion when it comes to getting your timeshare off your hands and in the rearview. Further, Fidelity Real Estate has an A+ Rating with the Better Business Bureau and is an official member of the Forbes Real Estate Council and ARDA, the American Resort Development Association. As ARDA’s Recommended Resale Broker for over fifteen years, we take your timeshare resale experience seriously and pride ourselves on putting clients first.
Can I Sell My Timeshare Back to the Resort?
When questioning how to sell a timeshare in Florida, the first step many owners should take is to reach out to their resort or developer directly. Oftentimes, the resort may want to buy back the property. So, making them your first stop will help get that Right of First Refusal (ROFR) out of the way if they quickly waive the right or make an offer. The Right of First Refusal gives the resort first priority to make an offer on a timeshare that is part of their property (see the subheading on navigating ROFR for more information).
Ask About In-house Programs
Moreover, many resort brands offer in-house programs to assist timeshare owners looking to sell their vacation ownership. Check out some programs offered by resort developers below:
- Wyndham Cares: For Wyndham owners in need of timeshare exit solutions, this free program considers each owner’s specific circumstances and helps to problem-solve.
- Ovation by Wyndham: This program is another safe and reliable exit solution for Wyndham owners. However, they must be current on their dues and have their loan completely paid off. In this case, Wyndham may be able to take back the ownership.
- The Legacy Program by Westgate: This program is crafted to help owners either make the most of their timeshare or find the safest exit option, though Westgate may offer to take back your ownership.
But don’t worry if the resort decides not to buy back the timeshare property. There are still plenty of buyers on the resale market looking for timeshare resales just like yours.
ARDA provides a firm Code of Ethics and a set of guidelines that every major resort developer adheres to. These intend to protect owners, buyers, and sellers of timeshares. As the trusted source for all developers, resale companies, and owners in the timeshare industry, making sure a resale company is ARDA-approved is crucial before using them to sell your timeshare.
How to Exit a Timeshare in Florida Responsibly
Although selling your timeshare can certainly feel daunting, there are plenty of ways for you to safely sell your timeshare. For example, you should never pay thousands of dollars for costly timeshare exit teams.
Timeshare Cancellation
Just as you cannot “cancel” your homeownership, timeshare cancellation is just as unrealistic. Like a deed to a house, a timeshare ownership comes with weight and responsibility. When figuring out how to sell a timeshare in Florida, it’s important to be aware of the timeshare recission period for your contract. Florida maintains a ten-day right of recission, where a person may cancel their contract or loan without a financial penalty. So, unless you are selling your timeshare within ten days of purchasing it, there is no “canceling” your timeshare contract.
Therefore, don’t take the word of any timeshare cancellation or exit company who says they can cancel your timeshare contract. What they likely mean is that you can default on your ownership and tank your credit standing.
Overall, your best option is to work alongside a reputable resale company or discuss other avenues with your developer.
Be Wary of Scammers
Anyone looking to sell their timeshare should be aware of timeshare scams. First and foremost, owners should know that trustworthy resale companies will never call you to offer their services. In fact, doing so is illegal and violates the ARDA Members Code of Ethics. Any company that calls and says they’ve secured a buyer for your listing without you ever having spoken to them is most likely a scammer. Further, timeshares rarely appreciate in value. So, anyone who calls unsolicited and offers to buy your timeshare for more than you paid for it is also most likely a scammer. Do not ever send someone like this money under the guise of “upfront fees” or “closing costs,” for instance. Use your best judgment, and set realistic expectations for resale prices.
Say Goodbye to Upfront Fees
Wondering how to sell a timeshare in Florida without upfront fees? Often, timeshare owners are misled into thinking that all timeshare resale companies charge upfront fees. But the truth is, you should never have to pay an excessive upfront fee to sell your vacation ownership. It’s true that some advertising agencies may charge a small fee for marketing your resale property. However, if you’re working with the right licensed brokerage, you should be able to sell your timeshare without upfront fees.
Don’t fall for out-of-the-blue buyers asking you to send large sums of money for “closing” or “transfer” costs. Say goodbye to cancellation companies and attorneys who assign high upfront fees for their services. They can’t promise to cancel your ownership anyway. Instead, look to licensed real estate brokerages like Fidelity Real Estate, who never charges an upfront fee!
Do NOT Stop Paying Your Annual Dues or Maintenance Fees
Be wary of any timeshare exit team or attorney who advises you to stop paying your annual dues or maintenance fees. Whether or not you are actively trying to sell or get out of your timeshare, this is a horrible idea. Often, it will end in a hit to your credit score and cause you to default on your ownership. Moreover, these timeshare maintenance fees and annual dues are legally binding in the contract you signed upon buying your timeshare. So, if you are truly struggling to pay these fees, seek a solution with your developer. Or, better, reach out to a timeshare resale company to get started on selling your ownership.
How to Sell a Timeshare in Florida with Fidelity Real Estate
The resale process doesn’t have to be overwhelming and expensive. Unlike other timeshare resale companies, here at Fidelity Real Estate, we don’t get paid until you do. We have no upfront fees, and our licensed agents are committed to getting you the best return on your ownership. Follow the steps below to learn how to sell a timeshare in Florida.
1. Contact Fidelity Real Estate
First, you’ll want to reach out to one of our licensed real estate agents by filling out a form at the bottom of this blog. Or call us at 1-800-410-8326 for a one-on-one consultation at no charge. Our agents are happy to discuss our services and go over any questions you may have on the process.
2. Create a Free Listing
Ready to hit the market? Our agents will craft a listing for your ownership free of charge. And what’s better is that you set the selling price! However, it’s important to remember that it is highly unlikely that will get back what you paid for the property. Because, the value of your timeshare rarely appreciates, so you likely won’t be making money off of the sale. We always suggest that owners price their timeshare competitively to what other owners are selling a similar timeshare for. We can help you do all the research to best set your price.
3. Navigate the Right of First Refusal
Once you get an offer, we will help you navigate the Right of First Refusal (ROFR). Before a timeshare owner agrees to sell their timeshare to a buyer, the owner must honor the ROFR. When purchasing a timeshare, the contract by the resort includes a clause that states that if the owner ever decides to sell the property, the resort holds ROFR rights, giving the resort the opportunity to buy the property back. If the resort waives their ROFR or doesn’t make a decision or attempt to negotiate within the clause’s specified period of time, the owner is free to proceed with the sale.
4. Transfer the Title and Get Paid
Once the ROFR is waived by the resort, the next step is to get in contact with a title company to have the title of the ownership transferred out of your name and into the buyer’s. Of course, Fidelity has you covered. We will quickly refer you to a title company to have the title transfer processed and the new title and documents sent to the resort. Once you confirm with the resort that the title is out of your name, you can stop paying maintenance fees!
Ready to Sell Your Timeshare on Fidelity’s Resale Market?
If you’d like to know more about how to sell a timeshare without upfront fees, click on the video to the left for a quick and easy guide through navigating upfront fees and selling your timeshare with us. Discover how to avoid scams, as well as helpful tips about the resale market and more.
At Fidelity Real Estate, our licensed real estate agents will guide you smoothly through how to sell a timeshare in Florida, or a timeshare in any number of locations, for that matter. Savvy buyers make for safe sellers. So, if you’re ready to sell your timeshare and are looking for a trustworthy, accredited business, consider reaching out to Fidelity Real Estate by filling out a form on our website or calling us at 1 (800) 410-8326 for a free consultation.
