Timeshare Owners 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 and rental markets. This need for information is why we have developed this Frequently Asked Questions page.
Sell Your Timeshare FAQ's
Before starting the process to sell your timeshare, the first step is to know the current situation of the Resale Market — Here you’ll get the truth, and only the truth!
Many timeshares you’ll find on the secondary market sell from between 0%-20% of the original purchase price. Unfortunately, that’s just a cold hard fact about the resale industry.
For owners thinking they are going to get 50% or 75% of what they’ve originally paid, unfortunately that’s just not realistic; especially when there are hundreds of timeshares for sale on the resale market, from owners who are just looking to get out of their annual maintenance fees!
Let’s now think about it from the buyers point of view:
They are looking for the best deal and if you want to sell your timeshare, it is essential to price your timeshare competitively. If you do not price your timeshare right, you’ll not generate any interest!
We know this information can be depressing for those trying to sell their timeshares, but hopefully by knowing the truth about the situation, you will be able to act accordingly.
Thus, we strongly recommend you to research on our website what is the current asking price for a similar ownership as yours: Search Timeshares.
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.
Marriott Vacation Worldwide (MVW) does the transfer of ownership from their head offices in Florida and the process takes about 90 days to complete.
- 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 amountwhich 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.
Rent Your Timeshare FAQ's
Travellers tend to search for properties at a price that’s within their budget. Therefore, to increase your chances of getting a reservation request, we make sure our prices are set 20% to 40% below your Resort and online travel agency pricing rates.
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 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.