FAQs
Timeshare Exchange in a Nutshell
To trade your timeshare, you'll deposit your timeshare week or points to the network of your affiliated exchange company. Your unit will be assigned either points or a TPU – trading power – based on location, seasonality, unit, and other attributes that make it an attractive booking.
How to get rid of timeshare for free? ›
Try a timeshare deed-back
For timeshare agreements with a buyback programCost: freeA timeshare deed-back program, also known as a buyback program, is when the timeshare company buys your timeshare back from you. It's a legal, low-cost way to give the property back to the resort.
What is the largest timeshare exchange company? ›
RCI - the largest timeshare vacation exchange network in the world.
Can you sell your timeshare back to the resort? ›
Ask the Resort to Take It Back
Some are surprisingly simple, like a timeshare deed-back. This is a legal, low-cost way to give the property back to the resort. Pay off debt fast and save more money with Financial Peace University. Look through your timeshare's paperwork to see if this is an option for you.
Why are timeshare resales so cheap? ›
The main reason timeshare resale prices are so cheap compared to retail timeshares comes down to the cost of selling a new timeshare. Similar to a car dealership, timeshare resorts spend a lot of time and money on marketing.
How do I get out of a timeshare deal? ›
To get out of a timeshare legally, consider these options:
- Use the rescission period.
- Call the timeshare developer.
- Rent your timeshare out.
- Sell your timeshare on the resale market (but expect to take a hit).
- Gift your timeshare to a friend, family member or stranger.
Some timeshare companies have programs to let you walk away, but they may come with strings attached, like forcing you to get on a waiting list, requiring that you show financial hardship, or requiring you to stop using your timeshare for a long period before they let you leave.
What happens if I abandon my timeshare? ›
The short answer is that if you stop making payments on your timeshare, the lender can take steps to collect the debt. This may include hiring a collection agency, reporting the debt to credit bureaus, or even filing a lawsuit.
Can companies really get you out of a timeshare? ›
If you're already in a timeshare and want out, start by contacting your timeshare company. Some have exit programs that let you exit for a modest fee. But, if you think you want to hire a company to help you, take some steps before you sign: Research the company.
What is the number one timeshare company? ›
Wyndham Destinations is considered one of the best timeshare companies because of its expansive portfolio across the world. There are several clubs under Wyndham Destinations, including Club Wyndham, Margaritaville Vacation Club, WorldMark by Wyndham, Shell Vacations Club, and more.
Find out if the reseller's agents are licensed to sell real estate where your timeshare is located. Deal only with licensed real estate agents and brokers. Check with the real estate licensing agency in the state where the timeshare is located. Also ask for references from satisfied clients.
Has anyone successfully sold their timeshare? ›
Many have been successful. The key is to price it competitively. Also, realize that many timeshares have a resale value of around zero! If that is the case with yours, then try to give it away.
Can I sell a timeshare that is not paid off? ›
Loans must be paid off: If you borrowed money from the timeshare developer, that loan must be paid off before you can sell or give away your timeshare. Loss of value: Most, if not all, timeshare re-sales result in a loss of value. Therefore, people looking to sell their timeshares should not expect to make a profit.
Why is it so hard to sell a timeshare? ›
Buying a home satisfies a basic need. A timeshare is more of an indulgence purchase, so your buyer pool may be more limited. You might also struggle to pin down the right value for your timeshare -- and a buyer might struggle similarly.
How do I unload my timeshare without getting scammed? ›
Stop paying.
“The creditor doesn't care that you bought a timeshare,” Rogers says. “You borrowed money and didn't pay it back.” But if you simply stop paying annual fees, it's possible a company won't report that to credit bureaus. Often, stopping your fee payments is the push resorts need to allow you to surrender.
How do timeshare transfer companies work? ›
Timeshare companies often don't acknowledge the transfer of timeshare ownership until they have received a copy of the recorded deed. Once the resort has been notified and the recorded deed supplied, they will process the transfer and assign ownership to the buyer or trustee.
Can I give my timeshare back to the company? ›
Some timeshare companies are willing to take the timeshare back. The process is known as a "deed back." The timeshare owner returns ownership to the company in exchange for relief from the maintenance fees.
How do exchange companies such as RCI work? ›
Deposits are RCI's term for the week or points that you have “banked” into their system. In most cases, once you make a deposit through RCI, you're committing to taking a vacation with RCI. Once a deposit is made, it is assigned “trading power,” which determines the vacations that you're able to exchange for.
Do I have to pay to sell my timeshare? ›
It shouldn't cost you anything to sell your timeshare on the timeshare resale market. However, if you are behind on your timeshare maintenance fees or have any outstanding dues, you will need to pay them off first. Normally, the buyer will pay for closing costs when making an offer on your timeshare.
