Is Transferring Timeshare Ownership Necessary?
Posted by at March 5th

If you’re facing making a decision to transfer the ownership of your timeshare then there are a few things to consider before going through with it. Many owners express their frustrations with owning a timeshare. From rising maintenance fees and assessments, to lack of flexibility with RCI and Interval International, owning a timeshare comes with a lot of surprise costs.

Some contracts have limitations on fee increases but others do not. It’s important to check your contract to make sure you’re aware of your rights. If you’ve been paying increases but your contract doesn’t allow for increases then you might be entitled to a refund. Other contracts allow for assessment fees, which are often charged when major improvements are made to a property. If you’re hit with an assessment and can’t afford to pay it, then transferring timeshare ownership may be the best option for you.

Owners that cannot make an upcoming or even past due payment might be at the end of their financial rope. Did you know, that with timeshare transfer companies like Preferred Transfers you’re “relieved of {your} financial obligations as soon as {you} sign the agreement”.

Additionally, did you know any points or week you have already banked prior to meeting with Preferred Transfers won’t be affected during the closing or transfer. Already booked upcoming travel? Don’t worry, any points or weeks you have already have banked before talking to a transfer of ownership company will not be affected during the closing or transfer either. Existing reservations won’t be affected during the transfer process.

There are many benefits to transferring the ownership of your timeshare. Owners should also be aware that timeshares can be inherited and passed onto your heirs. Some contracts allow for transfer of ownership to heirs and successors to inherit the timeshare, assuming the financial requirements of the person who gave it.

So is transferring timeshare ownership necessary? It depends on your situation. There are many situations in which it is the right choice, but there are other options. Know the right choice and choose the right timeshare transfer company, like Preferred Transfers, with a great reputation.

 How Do You Sell Your Timeshare?

Timeshares are one of the most inexpensive ways to vacation. Timesharing in a resort is quite different from any other vacation experience. They are a wonderful way to enjoy a relaxing vacation every year. Retirees find timeshares especially beneficial as they afford the luxury of a high end resort for less than the price of a traditional vacation.  

One of the easiest ways to sell a timeshare is to use a timeshare transfer service company. Buyers and sellers have found that this is the easiest and simplest way to close a deal on a timeshare. There is specialized paperwork that pertains to the sale and transfer service companies know all the details. They research the timeshare property prior to the sale to make sure there is a transferable title and that all will go smoothly each step of the way.

Once both buyer and seller have agreed on a price, the transfer service company provides a contract for both parties to sign. They also provide the seller with a form to fill out that is then sent to the resort. The resort will return it to the transfer service firm with information about the description of the property and any fees that may be outstanding. This is done at the outset so there is no further delay in the sale at a later stage.

If there are any fees outstanding, it then becomes an issue between the buyer and the seller to negotiate who will pay and how much. In some cases buyers will handle all the fees, in some cases the seller will and in others it will be split between both parties. Any fees that the resort would charge for the transfer of the timeshare unit is also negotiated between the buyer and the seller.

The transfer service company creates the required transfer paperwork and send it to both buyer and seller. They include the contract as well. There is a request included for the buyer to place the funds needed into a third party escrow bank account. Both parties complete the paperwork requested and return the signed documents to the transfer service company. The buyer deposits the required escrow monies as requested.

Upon receipt, the paperwork is carefully checked over to ensure accuracy and completeness. The transfer paperwork is sent to the appropriate government agencies to record the transfer of the timeshare. Once the agency sends back the recorded deed, the transfer service company lets the resort know that ownership has changed hands on the timeshare unit. A copy of the deed is sent to the resort and to the buyer. The funds from the escrow account that were placed by the buyer are now transferred to the seller. There is a closing fee that is paid by the buyer to the transfer services company as a fee for handling all aspects of the timeshare transfer.

Use an experienced transfer service firm when looking for or selling a timeshare, like Preferred Transfers. They know the timeshare industry and advise both buyers and sellers on all aspects of a transaction in the timeshare market. A recommended transfer services company is Preferred Transfers. They have handled thousands of timeshare transfers and are a well-known and reputable company with a long and successful history.

More Posts by Mike Huber

Mike Huber

Post Author: Mike Huber

Bio: Mike writes on a number of topics but his main focus is on search, social and content marketing. Mike is an accomplished public speaker and presents frequently on advertising and internet marketing topics.When not at work, you’ll find Mike out hiking or fly fishing.