Sell WorldMark Timeshare
How to Sell A WorldMark Timeshare
If you are searching for a company to sell a WorldMark by Wyndham timeshare, you will notice there are many companies with different approaches. Some may want to advertise your timeshare to buyers and others may tell you there is a hefty advance-fee to transfer it out of your name. We urge you to slow the process and do your research so that you understand how each program works so that you don't fall victim to possible scams.
At Timeshare Broker Associates, we are a licensed real estate brokerage and can help you sell your WorldMark timeshare using a familiar real estate approach. As a Featured Reseller of WorldMark by Wyndham, our licensed real estate agents are uniquely trained to help you move on from your ownership with no upfront fees to pay.
Four Steps to Selling a WorldMark Timeshare
Fortunately, selling a WorldMark timeshare is not a complicated process. Below we have outlined the four-step approach used to sell WorldMark timeshare:
Step 1: Listing Agreement – First we need to gather the details of your ownership (ownership documents, copy of trust certificate, etc.) to confirm the ownership details. We will perform a market analysis to determine at what price your ownership will most likely sell. We review the timeshare resale process in detail and enter into a listing agreement to begin the process.
Step 2: Locate a Buyer – Timeshare Broker Associates, LLC. will begin marketing your property to perspective buyers using a network of resale brokers and direct to consumer services to locate a buyer for your timeshare.
Step 3: Purchase and Sale Contract – Once a buyer is located, a formal contract is created and entered into between both buyer and seller.
Step 4: Closing – The closing process is handled by a preferred title company depending on the timeshare or points product being sold. The title company will verify the ownership details to ensure clean title is conveyed to the buyer and act as escrow agent for the buyer’s funds until the ownership has been transferred. They will also arrange payoff of any existing loan (if applicable), record a new ownership document for the buyer, notify WorldMark of the transfer of ownership and release funds to the seller when the process is complete.
Licensed Timeshare Resale Brokerage
Timeshare Broker Associates, LLC. is a full-service real estate brokerage that operates by listing agreements and resale contracts.
- Trusted – a licensed brokerage headquartered in Tampa, FL, with a sales office in Orlando, FL, TBA operates under the strictest regulatory requirements in the country. This provides peace of mind for sellers looking for a legitimate resale company.
- No Up-Front Fees – Timeshare Broker Assciates works on a commission basis, similar to a traditional real estate office. Sellers only pay in the form of a commission after a sale has been closed and processed. No money is taken up-front from owners looking to sell.
- Reach Buyers Online – Buyers in the resale marketplace go online to find the product they are looking for. We have the web presence you need to sell timeshare.
- Experience – With a combined 70+ years of resale experience, Timeshare Broker Associates has in-depth knowledge of the programs and resorts necessary to facilitate a smooth sale transaction.
Whether it is a fixed week or timeshare points-based ownership, Timeshare Broker Associates can help. We offer escrow services through our trusted affiliated closing companies, such as First American Title Company. We can assist in selling your deeded week or points-based ownership with a traditional commission-based real estate approach, and we will never charge an advance or “up-front” listing fee.
With Timeshare Broker Associates, every part of the timeshare sales process is documented, from the creation of listing agreements through the negotiations necessary to complete a successful sale.
Once a buyer is found, Timeshare Broker Associates licensed agents will create a purchase and sale agreement which is signed by both parties and engage the services of a reputable closing company to process the transaction. All monies are held in escrow and distributed at the conclusion of the sale, similar to the process of purchasing traditional real estate.
For more information about how to sell WorldMark timeshare ownership, please fill out our inquiry form or give us a call on 877-624-6889.
FAQ on Selling Your WorldMark Timeshare
Can I Sell My Timeshare Back to WorldMark?
WorldMark by Wyndham refers sellers to featured timeshare resellers who have been vetted. They do not offer a way to buy your timeshare back directly. Owners can contact WorldMark by Wyndham directly through their Wyndham Cares customer service program and they can get an assessment of their ownership.
Because Timeshare Broker Associates is a confirmed Featured Reseller for WorldMark by Wyndham, owners can also get a free evaluation of their timeshare by contacting Timeshare Broker Associates. Since TBA is a licensed resale broker, agents can legally provide owners with a market value assessment and a resale price for their timeshare.
How Do I Sell a WorldMark by Wyndham Timeshare?
WorldMark owners can sell their credits in a few ways. Whether you choose to sell your WBW credits yourself, advertise through a timeshare resale advertising company, or use a licensed timeshare broker, there are several options.
Selling a WorldMark by Wyndham timeshare yourself means you will do the marketing to promote your timeshare as well as handle all aspects of the negotiation, complete the purchase agreement and work with the closing company. You can try using social media outlets like Facebook or Instagram, but you are banking on whether you can find a buyer for your ownership.
Timeshare resale advertising companies work to bring buyers to their websites – using online marketing strategies to attract buyers to the timeshares for sale on their sites. Owners looking to sell their WorldMark by Wyndham timeshare credits would purchase an advertisement to attact buyers. Some sellers won't prefer this option because there is an up-front fee for an ad first without knowing if their timeshare will sell.
Using a licensed timeshare resale broker is often the best way to sell because agents are licensed real estate agents and regulated in the state in which they operate. Brokers work on a commission basis, similar to traditional real estate agents, so there are no upfront fees paid by the seller.
Timeshare or credit owners contact agents and discuss their options, then decide to list their timeshare with the agent. Once the timeshare is listed for sale, the agent works with a network of timeshare resale brokers across the country to find buyers for the timeshare. A dedicated timeshare brokerage will also have a robust online presence so buyers can find them online.
Once a buyer is found, the agent handles the negotiation, prepares the purchase paperwork, collects the deposit from the buyer which is placed into escrow and facilitates the purchase with the closing company. All the seller needs to do is agree on a sale price, sign the documents and wait for the check to come in.
How Do I Get Rid of my WorldMark Timeshare?
There are a few ways to get rid of a WorldMark timeshare, or to exit your Worldmark timeshare, but the best way is to sell it and get some money back for your initial purchase.
Because timeshares are considered property in most instances, they can be given away to someone else. Perhaps a member of your family or friends would like to take over the timeshare? If this is the case, all you would need to do is contact WorldMark so they can process the transfer documents and agree on who pays the transfer fee associated with the timeshare.
You can try contacting WorldMark first about giving up your timeshare, since they may take it back depending on what you own. However, keep in mind that there would be no compensation for you, so it is better to contact a WorldMark by Wyndham featured reseller to see what they may be able to get for it before you decide just to get rid of it.
One group you want to avoid are the timeshare exit or timeshare cancellation companies. These companies claim to be able to get owners out of their timeshares for a substantial upfront fee that can be as high as $10,000. In most cases, all these companies do is contact WorldMark on your behalf, which you can already do at no cost to you. These companies are under investigation by state attorneys general and have come under legal scrutiny for alleged violations of state consumer protection laws. Best to stay away from them.
How Much is a WorldMark by Wyndham Timeshare Worth?
Because of the broad variety of timeshare and points programs under the Wyndham banner, it is difficult to determine an average price for what a WorldMark by Wyndham timeshare is worth on the resale market.
Wyndham estimates that the average new sale price of a WorldMark by Wyndham timeshare is about $21,000.00, but that is for purchases considered "new" through the resorts. Resale prices are about 50-60% below resort prices because of the sales and marketing costs included in the resort prices. Without those marketing costs, the price drops much the same way that a car’s worth drops once it is driven off the car lot.
Licensed timeshare resale brokers can provide a resale value for a timeshare, so it is worth a phone call to see what agents have to say, especially since there is no cost to consult with the agent.
What Happens if I Stop Paying my WorldMark by Wyndham Timeshare?
Paying for a WorldMark timeshare takes a couple of different paths, both of which involve consequences if an owner stops paying on their timeshare.
Regarding the payment on the initial purchase, if an owner financed the purchase then the owner is obligated to the lender to repay the loan. These loans are primarily structured as an unsecured loan, similar to the way a credit card account is set up, with repayments made to pay off the loan. If an owner stops paying on the loan, the lender can take action to collect the loan, whether through debt collection or eventually through the courts.
The other payment avenue involves annual maintenance fees and/or club dues which go directly to WorldMark, for the on-going maintenance and operation of the resorts or club program. By not paying these fees, an owner runs the risk of WorldMark foreclosing on the ownership.
In both instances, either the lender or WorldMark can report the non-payment to the major credit bureaus, possibly resulting in a hit to the owner’s credit score. Reduced credit scores can also make it difficult to obtain new loans as well as lead to higher interest payments on future loans.
Because of the potential impact of not paying, owners should reach out to a licensed broker for a no-cost consultation and see what options they have prior to taking such drastic action.