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Index of Frequently Asked Questions for Owners
Why use My Resort Spot?
Do I need an Appraisal to Sell My Timeshare?
How much is my Timeshare worth?
How long will it take for my property to sell?
What if I don’t have my original paperwork or my deed, can I still sell my property?
Do I forfeit any banked weeks I have when I sell my property?
Do I need to hire an Attorney or Broker to handle all the paperwork?
Do I need to pay off my Timeshare before closing?
This is owner question 9
This is owner question 10
Why use My Resort Spot? We are committed to helping spotlight timeshare owners who want to rent or sell their property. We have created a worldwide platform that puts your property in front of thousands of people every day. With our experience, expertise and relationships in the industry we get results! When you pay large upfront fees to “advertise” your property a very small portion (if any) of the money you are paying is going towards getting your property exposed due to the large overhead and marketing costs these companies pay. Our model is unique, giving you the best results available without having to pay a large fee.
Do I need an Appraisal to Sell My Timeshare? No, appraisals are not required to sell a timeshare in fact they have no bearing on the value or sale of any vacation property.
How much is my Timeshare worth? There is no set value of a timeshare. Don’t expect to make money if you bought directly from the developer, while this may happen on rare occasions most people are happy to get back close to what they paid for it. Typically buyers looking to purchase on the resale market are looking to save at least %20 off current developer pricing.
How long will it take for my property to sell? There is no “average” time that it takes to sell. Some people sell in a matter of days however it is not uncommon for a property to take months or even a year or more to sell. Price does have a lot to do with how soon you will get results. Remember anything will sell if it is priced right so don’t over price your property, unless you are not in a hurry to sell.
What if I don’t have my original paperwork or my deed, can I still sell my property? Yes, while having this paperwork may expedite the closing process, don’t worry the company doing your closing can get this for you. It may take an extra 7-10 days to close but it will not hinder your sale at all.
Do I forfeit any banked weeks I have when I sell my property? Any weeks you have banked with your exchange company (II or RCI) are not affected by the sale of your ownership. Any roll over weeks or points in your account with the resort that are not banked may be dissolved at the time of closing; we suggest checking with your owner services department to confirm their process.
Do I need to hire an Attorney or Broker to handle all the paperwork? No, you can use a simple Sales contract to outline the terms of the sale. Then you can contact a title company that specializes in timeshare closings, forward the executed contract to them and they will complete the process for you.
Do I need to pay off my Timeshare before closing? No, the payoff can be satisfied at closing from the buyers proceeds. The title agent you choose will handle this for you.
This is owner question 9 This is owner answer #9
This is owner question 10 This is owner answer #10
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