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Selling from a distance

Ridgeback

TUG Member
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Location
Maputo, Mozambique (Africa)
I have a timeshare in Orlando, but live in Africa. I would like to sell it and look for advice on how to sell at a distance: can all steps be covered by email, with scanned signed documents, and the help of a closing company or should I be present for some transactions?
 
Some thoughts...

I have a timeshare in Orlando, but live in Africa. I would like to sell it and look for advice on how to sell at a distance: can all steps be covered by email, with scanned signed documents, and the help of a closing company or should I be present for some transactions?

You most certainly don't need to be physically present for any part of a resale timeshare transaction.
You can advertise on Internet sites (TUG, RedWeek, MyResortNetwork, etc.) and you can (...and you probably should) then have a closing company handle virtually everything else (escrow of funds, new deed preparation and recording, etc.) if / after you are able to find a willing buyer.

The mechanics of ownership transfer is the really easy part of your task. The much more difficult obstacle for you to overcome first is finding a willing buyer for an Orlando timeshare. Unless it's a high demand holiday week, non-prime timeshare weeks in Orlando are almost available for "a dime a dozen" these days.
 
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I see that you own Sheraton Vistana Resort - I own there, too.

Unless you own a fixed holiday week like Christmas or New Years, the sad truth is that it has no resale value. It's a beautiful resort, but unfortunately Florida is way over-built with timeshares, so there is far more supply than demand.

Your best bet is to try to give it away, and we have an area on TUG for that.

WARNING - now that you have posted that you want to get rid of it, you are very likely to be contacted by some "up front fee companies" offering to "take if off your hands" for a fee. Be very careful - this is usually a scam.


Most "charities" that accept timeshares these days are actually companies that have been set up to make a nice profit off the transaction fees - not true charities. They will usually charge you hundreds or thousands of dollars to "take your timeshare off your hands" - they won't take it for free, because they are making a profit off the fees.

The worst of these companies are just scammers:

-Some collect the upfront fees, but never actually take the timeshare out of your name, so you lose the money, but still own the timeshare.

-Some promise a high (illegal) tax right off that can get you in trouble with the IRS if you are audited.

-Some are "Viking Ship LLC's" that take the deed off your hands, but then register it to a LLC, bankrupt the LLC, and abandon the deed - making it difficult for your resort and the remaining owners to recover the deed.

Please consider giving your timeshare away to a private individual who would like to own it, before you spend a cent with a company like this.

Why?
-You can give it away yourself for nearly no cost.
-You can control the transfer process to make sure it is truly transferred out of your name.
-You won't have to deal with companies that may or may not be Legit.
-You can transfer it to a private individual who will be happy to have it for their own use.
-You will have the satisfaction of knowing that you ended your ownership legally and ethically.

There are TWO places on TUG where you can give away your TS's for free (no charge for the Ads.) THEY ARE COMPLETELY DIFFERENT - SO YOU SHOULD POST IN BOTH AREAS. There are other cheap and free sites on the internet, as well.

TUG Marketplace - the only cost is your TUG membership - $15 (List it for $1 and it will automatically go in the Bargain Basement Ads.)

Bargain Deals - Totally FREE! - just write a simple post with all the pertinent info. In your post, include the following info.:
-resort name
-unit size
-season owned
-maintenance fee
-current reservations​

To make it more attractive I would:

1) Pay the 2013/14 maintenance fees and don't ask for reimbursement.

2) Pay for the title transfer (you can get a simple title transfer with no escrow or title search for about $100.) Many Tuggers (including me) have been using Legal Timeshare Transfers, a no frills document preparation company, and they are receiving good reviews on TUG.:

Legal Timeshare Transfers/Ready Legal
Lisa Short and Mary Pless
http://legaltimesharetransfers.com/
1.706.219.2709

3) Reserve a popular holiday week in 2013/14 for the new owner

4) Instead of paying a fee to a rescue company - consider offering a cash incentive to the new owner.

5) Here is the very important step that most people miss: Come back to TUG once a week and add more info. to your thread - this will bump it to the top of the page.


Good luck!
 
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Living in Africa and selling a timeshare in Orlando is no different from me being in Ohio and "selling" TSs in Colorado, North Carolina, and Florida.

Almost everything can be done electronically by scanning and emailing.

The one thing that will take time is that when a new deed is prepared and emailed to you to sign and notarize, you will have to snail mail that document to the closing company with the original stamp from the notary.

I have used Legal Timeshare Transfers successfully in the past. The link is in DeniseM's post.
 
A million thanks for this extensive and very useful reply. I am sure that it may help many other readers in a similar situation as mine and could be included in TUG "bible for timeshare sellers", especially for sellers of timeshares in Orlando, as wisely pointed out by Theo!
 
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