Selling Timeshares you own

[dgalati]

Is there any requirements that you be a licensed realtor if you sell deeds you own?.

 

[TheTimeTraveler]

Is there any requirements that you be a licensed realtor if you sell deeds you own?.

No. You only need to be Licensed if you are selling a Deed for someone else.




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[TUGBrian]

id start here with our how to sell guide:

http://sell.tug2.net

 

[dgalati]

id start here with our how to sell guide:

http://sell.tug2.net

Is there a limit on how many of your own deeds you can sell?

 

[vacationtime1]

Is there a limit on how many of your own deeds you can sell?

No. But there are tax issues if the IRS claims you are in the business of flipping timeshares.

 

[Saintsfanfl]

No. But there are tax issues if the IRS claims you are in the business of flipping timeshares.

Aren't there tax issues anyway? Even if it's not a business you still have a sale to report. The by the book closing companies like Marriott's 3rd party contractors issue 1099s so with those there is no way to avoid the reporting even if it's a loss or breakeven. I always have at least a handful a year.

 

[dgalati]

Yes tax issue if your flipping or just selling your own. I read some where if you sold over so many of your own you needed to be a licensed realtor. I don't believe this to be true but I am not sure if this is the case.

 

[Saintsfanfl]

Yes tax issue if your flipping or just selling your own. I read some where if you sold over so many of your own you needed to be a licensed realtor. I don't believe this to be true but I am not sure if this is the case.

In Florida that is only if you are doing it on behalf of someone else or an entity. If it is personal property you are free to buy and sell all you want. This is America (hopefully).

One thing that should be realized is there is a difference between selling and a closing. You do not have to be a licensed broker in order to perform a closing. Real estate brokers do not do a closing. That is what a title company is for. The 3rd party salesperson that is supposed to be licensed simply handles the listing and inquiries. With a timeshare that is little more than posting on a website, answering emails, and drawing up the boilerplate contract. It isn't much, but legally you are supposed to have a license if it is not your own property. After that it is all the closing company. Owners can do either or both without a license if they choose. Some owners list it themselves and handle the communication. Then when they have a buyer they turn it over to a closing company like LT Transfers. LT Transfers is not acting as a buying or selling agent and does not need a real estate license.

Needs a License

Appraising or attempts to appraise real property for another for compensation excludes services that must be performed by a Licensed or Certified Appraiser under Chapter 475, Part II, Florida Statutes.

Auctioning or attempts to auction real property of another for compensation.

Selling or attempts to sell real property of another for compensation.

Buying or attempts to buy real property of another for compensation.

Renting or Leasing or attempts to rent or lease real property of another for compensation.

Advertising or attempts to advertise real property of another for compensation.

Representing that you are engaged in the business of brokerage activity.

Undertaking to list or sell one or more timeshare periods per year on behalf of another individual or entity for compensation.

Does not need a License

A salaried employee of an owner of an apartment community working in an onsite rental office.

The owner of a timeshare period who later offers the timeshare period for resale.

Any person or business entity that rents or advertises for rent a public lodging establishment properly licensed in Chapter 509.241, Florida Statutes.

A tenant in an apartment complex who receives a referral or finders fee, not to exceed $50, for the referral of a tenant. However, the tenant may not advertise or otherwise promote the service of finding a potential resident.

The owner of real property who offers the real property for resale.

 

[Ritamonte]

Has anyone used Timeshare Nation to buy or sell

 

[Ty1on]

Has anyone used Timeshare Nation to buy or sell

Timeshare Nation used to only give away timeshares, not sell them. I see now that it has expanded into selling. They are very legitimate, but your net cost or profit depends entirely on the value of what you want to sell. If it's a "giveaway" timeshare, you would save money by listing it free in Bargains, even if you have to pay closing and transfer yourself to unload it. If it has a value, you can list it yourself here on TUG, on RedWeek, or Ebay, and hope for the best, or you can pay someone like TimeshareNation to list if for you, which will put a significant bite in the amount of money, if any, you take out of the deal.