As you’re certainly aware by now, we at The People’s Advocate strongly advise against getting into a contract with any timeshare company in the first place. We know you were probably pressured into signing a contract during one of those marathon sales sessions into which you were tricked. And we know there’s a good chance you were promised all sorts of fantastic features that turned out to be holograms through a mirror darkly.
But perhaps you sat on your hands a little too long and your cancellation period has passed. Perhaps there are no material misrepresentations within the contract itself. Perhaps you are wary of hiring a good law firm like The People’s Advocate to go to bat for you at court (though we can hardly imagine why). Perhaps—in short—you’ve decided your path of least resistance, at this point, is to simply sell your interest in the timeshare and move on.
Well, all right then. But you want to make sure you do this right.
For one thing, there are resale markets out there that offer to take on the entire sale for you from start to finish. Naturally, they will want money to do so. So depending on how much money you have to burn—and keeping in mind that, however much money you might want for your timeshare, you’re likely to get less than half that amount if you’re lucky—that might be an option. (But make sure you’re dealing with a reputable company! Scams abound!)
Otherwise, you can take the DIY approach.
Generally that means locating all of your ownership documentation so you can determine the sort of ownership interest you actually have in the timeshare property. Some people own timeshare “deeds,” some have purchased what is known as “right-to-use” interest, and some have purchased their way into “club property” ownership. There may be rights of first refusal in your contract (for example, the company you bought from may want you to offer to sell the property to them, first). And some contracts forbid owners from placing timeshares for sale on their own!
Most timeshare companies charge “transfer fees” when an owner sells the property interest. Some even charge commission for the sale, whether or not they were actually involved in the transfer of ownership.
Moreover, you may have been granted certain “rights” with your timeshare purchase that will not pass to any interest sold to a third party. It’s important you find out ahead of time if this is the case in your situation—otherwise you risk becoming an active party in scamming the person you sell to. You need to accurately represent what the purchaser would be getting when they buy the timeshare interest.
You’ll want to put the property interest up for sale on a reputable re-sale site. Take the best offer you can get (again—you’re likely to be dismayed at how much less you can get than you paid), and be sure to involve an attorney and title company when it comes time to make the actual property transfer.
Good luck. If you’re looking to end your association with a timeshare company—in Fort Lauderdale, Florida or elsewhere—let The People’s Advocate fight for you. We take on timeshare companies to hold them accountable for their high-pressure sales tactics and fraudulent practices. Don’t find yourself subject to losing money on “properties” into which you’re forced to pour significant amounts of your hard-earned money. Contact us for more details.