Selling Proceedure

If I find a buyer for my 2 Wyndham timeshares (288000 points total), I would like to know what to do. I want to know specifics so that I don't end up thinking I sold and finding out later that I still owe maintenance fees etc.

After you and the buyer agree on a price, you will also have to agree upon who pays the closing costs plus Wyndham's $299 transfer fee. Once that's agreed upon, you will have to find a reputable closing company such as JRA Transfers (timeshareresaleclosings.com), Legal Timeshare Transfers, Timeshare Transfer, or RedWeek's recommended First American Title.

The buyer might also request that you get an estoppel letter from the resort confirming that you are the owner and that all mortgage and maintenance fees are up-to-date. The closing company that you choose will send you and the buyer forms to be signed and notarized. Once you do that, send the notarized forms back to the closing company.

If you use one of these reputable closing companies, they will ensure that the transfer legally takes place and you won't have to worry about future maintenance fee bills.

Just watch out for the many scams out there that promise to get you big money for your timeshare if you pay them an upfront fee. That brings us to the next point. Make sure you are well aware of what your points package is worth on the resale market. I am not an expert at Wyndham's point packages but you might find out that it is worth very little, perhaps even zero. So make sure you price your unit for sale competitively.

Hello lancec13, Thank you for the detailed reply.

A quick question. About the closing company. The way I was going to avoid a non-reputable company was to use a local company. Do I have to use a company that specializes in Time Shares? I have a clear Title for both properties. In other words, is there something different about time share titles that a local closing company that usually does houses that they couldn't do a time share?

I do understand about the value of what I am selling and I will just keep it before I will pay anyone any upfront fees.

I am going to advertise it locally. It will be a 'dump' situation. BUT the person I sell to will have to be serious enough to pay half the closing.

When I was able to use this, it was fine and I enjoyed it. I just don't use it anymore.

Thanks again

johnr1701 wrote:

The way I was going to avoid a non-reputable company was to use a local company. Do I have to use a company that specializes in Time Shares? I have a clear Title for both properties. In other words, is there something different about time share titles that a local closing company that usually does houses that they couldn't do a time share?

I do understand about the value of what I am selling and I will just keep it before I will pay anyone any upfront fees.

I am going to advertise it locally. It will be a 'dump' situation. BUT the person I sell to will have to be serious enough to pay half the closing.

When I was able to use this, it was fine and I enjoyed it. I just don't use it anymore.

You can ask a local closing company if it closes timeshares. However, the ones that I recommended are fairly economical and can do most things online. You just have to mail in the notarized forms and the closing companies will handle all the details. Many timeshare veterans who have bought and sold many timeshares will recommend paying these companies to do all the work with all the details that must be done.

If you're really serious about "dumping" it, you should advertise on various websites such as RedWeek, Bid Shares, E-Bay, Timeshare Users Group (aka "TUG"; tug2.net), or My Resort Network. You will reach a larger audience possibly looking to expand their Wyndham points portfolio.

And do not pay anyone any upfront fees! Any fees that you have to pay will go to the closing company and the closing company will get its fees out of the proceeds of the sale.