Timeshare Owners FAQ’s
Looking For Answers?
Timeshare Owners FAQ’s
Looking For Answers?
If you’re a Marriott timeshare owner looking to sell or rent your timeshare on the secondary market, you may have many questions. Our timeshare owners’ frequently asked questions will help you to better understand how to sell a timeshare, rent timeshare, and more. If you have additional questions or need immediate assistance, call one of our friendly timeshare specialists at +34 910 605 270 or via the contact form.
Selling Your Timeshare
Thinking about selling your timeshare? Wondering how much you can reasonably expect to make on the sale of your timeshare?
Whether you’re familiar with reselling timeshare or just starting out, several areas should be considered when determining a timeshare’s worth, however, one area to disregard is the original sale priced you’ve paid for your timeshare.
Similar to the sale of a new car, timeshares lose worth “right off the lot” because of the sales commissions, marketing costs and extravagant ‘gifts’ baked into the resort-developer original sale price. These costs average between 50-60% of the initial sale price.
In today’s resale market, it is no secret that there are way more sellers (with an identical ownership and an identical need to sell) than there are buyers, so you need to know where to set your asking price to be competitive and attract offers — if you do not price your timeshare competitively, you will then have little to no chance of selling your timeshare at all. The higher you list the price, the longer it will take to sell. If you need to move the timeshare quickly, then a lower price will draw timeshare buyers.
We invite you to click on the button below and to start researching on our website what is the current asking price for a similar ownership as yours. Need assistance? Feel free to contact our multilingual team at +34 910 605 270 or via the contact form.
You wouldn’t pay your Realtor before they sell your house, so why would you pay upfront for your timeshare?
If anyone requires an upfront fee to help you sell or register your timeshare for sale, be very cautious. Also, be wary of any timeshare ad-site that promises a “too-good-to-be-true” selling rate. Many third party scam artists that charge an upfront fee will entice sellers into the false expectation of an unrealistic, higher sale-price, in order to secure the sale of the ad.
In many cases, once you’ve paid them an upfront fee, these ad-sites will lose any urgency they had to work towards selling the timeshare. They have already received their incentive and will focus on getting more upfront fees rather than finding a buyer for the timeshare.
At Doctor Timeshare, we want to have the biggest possible selection of Marriott timeshare ownerships. Every listing brings us more visitors, makes our search more unique, so it’s in our interests to offer free registration to all our clients.
No one can accurately determine a specific length of time within which your timeshare will sell. There are many factors that will influence the resale of your timeshare including your home-resort location, timeshare season, unit size, demand, and of course, if your asking price is in accordance with the resale market values. In short, the higher you list the price, the longer it will take to sell. If you need to move the timeshare quickly, then a lower price will draw timeshare buyers.
You can have peace in mind knowing that we will not charge you any sort of fees before, during or after the sales process. The buyer will cover the transfer and administration fees, and we earn our remuneration only after the sale is completed and the escrow is closed.
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 timeshare resale process takes about 90 days to complete and is 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 funds will then be released to your Bank account, and the Buyers will receive home their new timeshare ownership certificate.
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.
Renting Your Timeshare
This is entirely up to you. You can check out our Rental Platform to see what other owners are charging. However, to increase your chances of getting a reservation request, we advise you to set your rental rate 20% to 30% below your Resort pricing rates (marriott.com). If you are in a rush to rent, pricing lower than other weeks is the best way to get a quick response.
Publishing your timeshare week(s) on our website is free of charge. If we are able to find you a renter, we will charge a flat service fee of 150 EUR per timeshare week rented. This fee will be deducted directly from the amount to be transferred to your Bank or Paypal account.
Our Vacation Rental process is organised in 4 parts:
- Getting an offer is a great feeling but for us, the work is just beginning. As soon as we receive a reservation request, we will confirm to you in writing the exact net amount which you will receive. Once you have confirmed that you would like to host the guest, we are ready to move to step two.
- We will collect full payment from the guest and ask you to contact the owner services department of Marriott to add the name of the guest to the reservation as the person checking into your unit. We remind you that our cancellation policy implemented means that all prepayments are non-refundable and if the guest decides to leave early, the nights not spent are not refunded.
- As soon as you’ve forwarded us Marriott’s e-mail confirming the name of the renter, the arrival and departure dates, we will transfer to your Bank or Paypal account 30% of the entire rental amount.
- We’ve now reached the final step, your guest have checked in, we will process with the balance payment (the remaining 70%, minus our service fee of 150 EUR per timeshare week rented).
Please feel free to contact us with any questions you may have regarding our vacation rental process.
Simply contact Marriott Owner Services and ask to add your renter’s name to your reservation as the person checking into your unit. There is absolutely no need to provide any reasons to Marriott. Also know that Marriott does not currently charge a guest certificate fee.
Marriott Owner Services will then e-mail you a Reservation Confirmation under your renter’s name.