We’ve done a few posts on scams and fraud, given its recent prevalence in timeshare news, and we’ve highlighted a couple of warning signs of fraudulent timeshare resale companies. But what does a legit timeshare sale look like in the resale market? We know about those high-pressure presentations, and signing on the dotted line is all it takes to get roped into an inflated purchase price of a property you’re not sure you actually wanted.
But how do timeshare resales work?
At Premier Timeshare Resale, we take our Realtor duties to buyer and seller seriously, and so while the sales and closing process may be slightly more lengthy than ordering a new bed from Amazon online, you can trust that it is thorough and protected. Although the process can vary for properties that use points or certificates instead of deeds, below, we outline some of the key steps of buying, selling, and transferring the deed of most timeshare resales.
1-FREE ADVERTISING for the seller on our website and a network of timeshare brokers give sellers the 
most free exposure available.
2-AN OFFER IS MADE by a potential buyer on a seller’s advertised property. This offer is presented through PTR’s coordination, so our licensed agents can assist and support the buyer in choosing the right choices and amenities for their timeshare needs.
3-TIMESHARE SELLER ACCEPTS the offer, and buyer deposits and Earnest Money payment. Sometimes this is a more lengthy process, as several formal or informal offers and counteroffers are made until buyer and seller find a price that is right for both of them.
4-CONTRACTS ARE SIGNED by both parties. This step can take anywhere from a few hours to several days, depending on each party’s pace. Although contracts used have been thoroughly reviewed by legal professionals, occasionally a party will want a personal attorney to look at the contractual language, and at PTR, we believe this is a client’s right when done in a timely manner.
5-CONTRACS ARE SENT TO ESCROW with a licensed title company who researches and verifies the property description and deed, prepares a new deed, and issues these descriptive documents to both parties for signature and return to the title company. The full funds of the sale price are usually submitted to the title company at this time.
6-A NEW DEED IS RECORDED with the county in which the property is located in the buyer’s name. The length of this process varies widely from state to state, with island and international timeshares taking somewhat longer than others. This is when the seller receives payment for the sale, and the resale company receives commission payment.
7-TIMESHARE MEMBERSHIP IS TRANSFERRED with the resort, so that the seller’s account is effectively absolved from all maintenance fees and obligations, and the buyer can access the unit and privileges of its ownership in his name freely at leisure.
If this sounds complicated, it’s because it sometimes can be! The speed and length of finalizing the timeshare sale depends heavily on the pace of both buyer and seller and the location of the property. If you’re in a hurry, or want to use a booked week before your sale is finalized, Premier Timeshare Resale can work with you to ensure that your travel plans succeed.
Contact Premier Timeshare Resale with questions or concerns, comments or queries. Our motto recognizes that each buyer and seller has different agendas and requirements, and it is our promise to devote our knowledge, energy and experience to meeting each client’s specific needs, before, during and after the sale.
