Even though it’s a vacation-use product, selling a timeshare usually involves the same steps involved in selling real estate, such as a house. Before selling your timeshare, make sure that you have your paperwork in order.
The following checklist should help:
- the name, address, and phone number of the resort
- the deed, and the contract or membership agreement which clearly identifies the timeshare you own
- the financing agreement (if you are still paying for the property)—remember you’ll have to pay this off before you can transfer your timeshare to a new owner
- any title insurance information
- any other information to identify clearly your particular interest or membership
- the exchange company affiliation
- the amount and due date of your maintenance fee, and whether it has been paid for the current year
- the amount of real estate taxes (if billed separately), the due date, and whether they have yet been paid for the current year.
- the date your timeshare will next become available for use by a new owner or when a new owner can first make a reservation
- whether or not your timeshare is a fixed week and/or unit or requires an advance reservation (a floating or flex-time timeshare)
- gather copies of the documents governing the resort owner’s association, if any, the resort’s rules and regulations, reservation rules and any other information that would be helpful to a new owner, such as area attractions
- know whether or not your vacation interest is legally classified as real estate or personal property, as this will make a difference in how it is conveyed to a new owner
