Timeshare Transfer of Ownership

Timeshare Transfer of Ownership

We will handle the entire transfer safely and quickly!

Timeshare Transfer of Ownership
We will handle the entire transfer safely and quickly!

Full Protection for Buyers and Sellers

At Doctor Timeshare we are proud to be fully compliant with the European legislation. We are a registered and approved timeshare reseller and our contracts/processes are fully in line with the rules governing timeshare resale.

Our Buyers are entitled to a withdrawal period of 14 days and both Buyers and Sellers are protected by funds being held in escrow. CaixaBank services will collect, hold and only disburse funds when both Buyers and Sellers are satisfied.

Selling or buying a timeshare should not be a complicated process, and with our help, it won’t be!

Steps of the Transfer of Ownership Process

1. Ownership Verifications

Once agreement is reached, our transaction coordinator, will contact the Buyer and the Seller to collect all the necessary information for the contract preparation. As stated in our Privacy Policy, Doctor Timeshare will never share your personal information with third parties other than Marriott Vacation Worldwide.

2. Contracts & Agreements

The Buyer and the Seller will receive our agreements, including a declaration of treating customers fairly and Marriott’s official transfer of ownership form. Besides the purchase price of the resale ownership, the closing costs amount to 300 EUR per transfer. It includes our administration fee and the mandatory fee Marriott Vacation Worldwide is charging.

3. Cancellation Rights & Escrow

Under the European Union rules governing timeshare, the Buyer has 14 calendar days from the day the contract is signed to cancel the agreement, without giving a reason. Before the end of the withdrawal period, full purchase moneys must be placed into the escrow account.

4. Transfer Procedure

The timeshare resale process takes about 90 days to complete and is organised in 4 parts:

1. From the moment the funds are placed into the account, the agreements will be sent to Marriott for review, also referred as to “Right of First Refusal” period (ROFR); this typically takes 4 weeks or less.

2. If Marriott chose to waive their “Right of First Refusal” we can then move on with the procedure and the files will be sent via secured postal mail to Marriott Vacation Worldwide in Florida. In about another 6 weeks of time, we should receive from Marriott a document named Holiday Ownership Transfer Agreement (HOTA).

3. Upon receipt, we will forward it to both the buyer and the seller for signatures. This original document should be returned to us and after verification we will send it back to Marriott in Florida.

4. We’ve now reached the final step of the procedure and we will have to wait another 4 weeks for Marriott to complete the transaction.

Commonly Asked Questions

If I still have financing on my Timeshare, can I sell it?

Sadly not. You cannot resell if your timeshare is still under financing. The ownership must be debt free in order that Marriott Vacation Worldwide in florida approves the transaction.

How do I know there is no debt owed on the Timeshare I am buying?

It is in fact impossible for us to execute a transfer of an ownership with any outstanding debt on it. Before Marriott Vacation Worldwide will issue any transfer documentation the ownership must be debt free, with the maintenance fee payments current.

Marriott sales rep. may implicate this as a reason not to buy a resale ownership but to instead buy a membership at full price. Be reassured this is not the case!

How much are the closing costs?

Besides the purchase price of the resale ownership, the closing costs amount to 300 EUR per transfer. This includes the escrow services fee and the mandatory fee Marriott Vacation Worldwide is charging.

What does "Right of First Refusal" (ROFR) mean?

Marriott’s timeshare buy back policy is also referred to as Right of First Refusal. Before any Marriott timeshare can be sold, the purchase and selling agreements must be sent to Marriott for review. Marriott has a limited number of days to review the contracts and in that time, if they decided to, they can purchase the property based on the terms of the sales contract. The funds will then be refunded to the buyers, and the sellers will proceed with the transaction, but with Marriott as the new buyer.

On the other hand, if Marriott waive their ROFR, the original sale can proceed. In either case, the sellers will receive the same amount for the sale of their timeshare.