Timeshare Sellers FAQ’s
Looking For Answers?
Timeshare Sellers FAQ’s
Looking For Answers?
We, at Doctor Timeshare, understand how confusing it can be to sort through the options in the timeshare resale market. This need for information is why we have developed this Frequently Asked Questions page.
We want you to have the best possible chance of selling your timeshare ownership. Understand that it is a common interest! However, the timeshare resale market is complex and understanding the state of it is the first step in selling your timeshare.
Considering that you are competing with multiple owners at your resort with an identical ownership and an identical need to sell and knowing that buyers are constantly looking for the lowest available price, selecting a realistic price for your timeshare is therefore crucial.
Thus, we strongly recommend you to research on our website what is the current asking price for a similar ownership as yours: Search Timeshares.
You will not receive the same amount for you resale as you originally paid for from the resort. This is because when resort developers like Marriott are selling timeshares, they tack on additional fees for sales incentives, marketing campaigns, etc. Since you will not be offering any of these services, your timeshare will be sold for the fair market value. However, this means that it is likely to be sold much more quickly than if you charged the full price that you paid for it.
No. The Buyers will be responsible for the transfer fees, administration fees and commissions payment.
No one can accurately determine a specific length of time within which your property will sell. There are many factors that will influence the resale of your timeshare including location, resort quality, flexibility of usage, season, demand and, of course, price.
Yes! Regardless of when or where you purchased your timeshare, you are entitled to resell it.
No. You cannot resell if your timeshare is still under financing. The ownership must be debt free in order that Marriott Vacation Worldwide approves the transaction.
You should have your owner documents ready, such as the original purchase and sales agreement, to verify your ownership information. We will need details such as the specific week owned, usage, unit size, location.
The transfer process takes about 90 days to complete; however, it is essential that we follow legal and company requirements and ensure that both parties are fully protected throughout the procedure.
Marriott Vacation Worldwide (MVW) does the transfer of ownership from their head offices in Florida and the process organised in 5 parts:
- Getting an offer is a great feeling but for us, the work is just beginning. We will confirm to you in writing the exact net amount which you will receive upon completion and once agreement is reached, our transaction coordinator, will contact you to collect all the necessary information for the contract preparation.
- Before the end of the mandatory 14 days’ withdrawal period, we are asking the Buyers to transfer onto the escrow account the full purchase amount. All monies will stay blocked until completion of the transfer of ownership.
- 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. If Marriott choose to waive their “Right of First Refusal” we can then move on with the procedure and the complete file will then be sent via secured postal mail to MVW in Florida.
- In about another 4 weeks of time, we should receive from MVW a document named Holiday Ownership Transfer Agreement(HOTA). Upon receipt, we will forward it to you and the buyers for original signatures. This original document should be returned to us and after verification we will send it back to MVW in Florida.
- We’ve now reached the final step of the transfer of ownership procedure and we will have to wait another 4 weeks for Marriott to complete the transaction. The Buyers will receive home their new timeshare ownership certificate and the funds will be released to your Bank account in file
Marriott’s timeshare buy back policy is also referred to as Right of First Refusal. Before any Marriott timeshare can be sold, the 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 you, the seller, 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, you will receive the same amount for the sale of your timeshare.