TO SELL YOUR TIMESHARE, SIMPLY FILL OUT THE SELLERS FORM!
NEVER PAY ANY UP FRONT FEES TO SELL YOUR TIMESHARE!
We advertise timeshares for sale. It's what we do, this helps people buy, sell timeshares. And that's great news if you are a timeshare owner. Just look at our inventory link to have an understanding of timeshare resale value.
Before we begin the Selling FAQ, we should make a point that we will reiterate below. It may seem that we are being rough on sellers. This is not the case. We firmly believe that sellers are not interested in some song and dance – they want the unvarnished truth, and they have contacted us for one reason – to SELL their timeshare. Most timeshare owners are rather
shocked to learn what their timeshare is really worth.
The thought process should NOT be: What can I get out of this? Instead, the mindset should be: What am I getting out of?
In general, you are getting out of paying maintenance fees for something you are not using. Maintenance Fees are like diamonds – they are forever. Maintenance Fees will never go down, but will always increase over the years. The money you paid for the timeshare is a sunk cost – you will never get it back. The company you purchased from is never going to write you a check for the amount you spent to purchase. The decision to sell is a financial decision, and the decision needs to be forward looking: what is the future impact of selling or not selling?
Keep in mind; you are selling at resale prices. You can just easily purchase at resale prices. View selling your timeshare as putting maintenance fees on hold. Whenever you feel like paying maintenance fees again, simply get online and purchase another timeshare (or the same one you’re selling). You’ll be able to purchase for roughly the amount you are currently selling it for. With the above in mind, let’s proceed to our Seller’s FAQ.
Q: How much will it cost to sell?
A: At Happy Owners, you will pay nothing up front. Once your timeshare is sold, and Happy Owners has secured the buyer’s funds, we will deduct our sales commissions, from the sale proceeds. In certain circumstances, we might discount our sales commission’s fee.
You may also be required to notarize transfer documents, but that won’t happen until the timeshare is sold.
Q: Does the buyer pay any costs?
A: It depends on the timeshare product, but we may charge one or more of the following to buyers: closing costs, property taxes, deed recording, resort transfer fees. This depends on the timeshare and the seller’s situation (are you behind in maintenance fees, is there a lien on the property, do you still have an outstanding loan balance, etc.).
Q: How long does it take to sell?
A: If priced accordingly, usually less than 10 days. However, if priced above the market, it will never sell.
Q: How much can I get for my timeshare?
A: A good indicator of current market prices would be eBay. However, the listed prices on eBay can be deceiving. Listed does not mean sold. Many timeshares listed on eBay do not sell, if priced inappropriately. Your best bet is to check COMPLETED listings and search for the timeshares which actually sold.
Q: It seems the selling price is low, I was told by (sales representative, spouse, friend, timeshare resale company, etc.) that I could get more.
A: We encourage everyone to do their research. However, some basics about timeshare sales and the resale market might be appropriate.
1. Timeshare is not an investment.
The very best of timeshares are lucky to get 40% of retail value. Most timeshares sell for around 10% - 30% of retail. A significant number of timeshares are either not saleable or would sell for perhaps a couple of hundred dollars. In our estimation, roughly 20% of all timeshare is a 100% loss. Happy owners, Inc does not set the prices. If you wanted to sell a used car, you could not set the price either – the current market conditions set the price.
2. Do not view this as “What can I get for this?” Instead, ask yourself, “What am I getting out of?”
In many cases this would be Maintenance Fees. Maintenance Fees are forever and they will always go up over the years. Since you are now aware of the resale market – view selling as placing a hold on maintenance fees. If you would like to start paying maintenance fees again, simply call us back and we would be glad to sell you a resale at roughly the same price you are currently selling your timeshare for.
3. There are disreputable timeshare resale companies.
An easy way to know if they are disreputable is if they charge an up front fee. To collect that fee, they will tell sellers what they want to hear, namely a high selling price. A good test to see if they are being reasonable is to first contact a reputable seller (no up front fee) and get an estimate of selling price (say $1,500 is the estimate). Now, if the up front fee company says it can sell it for $7,000, so long as you pay $800 up front, then respond by asking them to FIRST sell it for $7,000 and in exchange for waiving the $800 up front fee, you will let them keep $4,000. Do you honestly believe that any rational human being would refuse such an offer if they truly believed they could sell it for that amount? Let’s see… collect $800 up front, or wait a couple of weeks, sell the item, and make $4,000 – which would you choose?
Q: Why are prices on the resale market so low?
A: There are a variety of reasons, but let’s focus on why prices are low from a buyer’s perspective. If you are a buyer, you realize that it does not matter who you buy a specific timeshare product from, it will work in exactly the same way. In other words, if I buy a Monarch Grand Vacations timeshare from seller A or seller B, it does not matter. As a buyer, there is zero urgency. I don’t have to buy a timeshare right now; I can wait – until next week, next month, or next year. So, what is the one determining factor? Price, price, price! The buyer is primarily interested in price – which is what brought them to the resale market in the first place. From the seller perspective, there is urgency. Keeping a timeshare you are not using is a financial drain – you must pay maintenance fees. Also, there are more timeshare sellers than there are buyers. Combine a large supply with seller urgency and it is the buyer who wins. This is the current nature of the market and no amount of wishing will cause it to be any different.
There are many reasons why sellers would like to sell. If you decide to utilize the services of Happy Owners, Inc., you can be assured of fair, ethical and honest service. We are in business to make a profit. We can’t do that unless we successfully serve our clients. The proof is simple – we don’t make any money unless we have successfully completed our job, which is to sell your timeshare.