What’s the process. If somebody wants to sell their time share, and then we’ll skip over to, I think most of us don’t really want, we want to buy. Timeshares from these distress buyers or sellers, get into that at the end, but what’s the process. If somebody wants to unload it, they want out of it. What they would do is I recommend that everyone first contact your resource, see if they’ll let you out for free.
That does happen on occasion, usually with a higher end brand. So explore that option first, plus, you want to know that you didn’t go and pay someone to get out of it when. You could have gotten out of it for free through the developer. That would be step one. If that’s not the case, then you know, you need to go through a company that can secure a buyer for you.
And I would encourage everyone to be very careful and not pay anyone up front. And I’m sure that your viewers are. You know, certainly a little more savvy than many of the people that have fallen victim to the scams, but in general, don’t pay anyone upfront. If a client comes to us, all we’re going to need is the deed copy of the deed.
If they have it, copy of their IDs, copy of a recent maintenance fee bill, we can then price it out. We use a calculator, so we already have pricing preset for every resort in the world and get them a quote within minutes. And if they want to move forward, we send them an e-sign contract. Open escrow. And it follows a normal real estate process.
So we’re never paid until the close of escrow and we don’t even collect payment. It all goes through the title company. So it’s a very secure transaction and a guaranteed one. If we are not able to secure a buyer on our own, then we’re going to transfer into our own name and turn it into vacation rental.
But it’s a guaranteed quick process. And what our clients are looking at is, Hey, we don’t use this thing. We’re paying for it every year anyway. And then what’s going up at six to 10%. Okay. Or just throwing money away. Let’s basically stop the bleeding.