Sell a Wyndham Timeshare
How to Sell Your Wyndham Timeshare
If it is time to sell a Wyndham timeshare, then you have probably begun the process of searching for a company that can help.
Fortunately, selling a Wyndham timeshare is not an overly complicated process. While there may be many companies that claim to be the best solution, you will need to carefully weigh your options before ulitmately deciding on which approach is right for you.
At Timeshare Broker Associates, we are a full-service real estate brokerage that can help you sell your Wyndham timeshare by using listing agreements and timeshare resale contracts, similar to selling a residential property.
We earn a commission when your transaction has closed and do not charge any "up front" fees. As a Featured Reseller for Wyndham Destinations, we are proud to be working with the largest and most successful vacation ownership company in the world. This gives buyers confidence that when they find a Wyndham timeshare for sale, they will be working with a trusted Wyndham reseller.
The Four Steps to Selling a Wyndham Timeshare
Below we have outlined our four step approach used to sell a Wyndham timeshare:
- Step 1: Listing Agreement – First we need to gather the details of your ownership (ownership documents, copy of deed, maintenance bill, 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 resale process in detail and enter into a listing agreement to begin the process.
- Step 2: Locate a Buyer – Timeshare Broker Associates 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 trusted closing company, such as First American Title Company. The title company will verify the ownership details with the recorded deed 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 deed for the buyer, notify Wyndham of the transfer of ownership and release funds to the seller when the process is complete.
Most documents may be signed digitally, so there won't be a need to travel. However, there may be times when we need to send documents via fedex for "wet" signatures or original copies of notarized documentation for recording. We make this process quick and easy to expedite the transfer of ownership.
The entire process normally takes anywhere from 30 days to 90 days, but may take longer depending on a multitude of factors such as the ownership type, location of the resort, speed of executing and returning paperwork, etc. Our agents will evaluate your ownership and provide you with a more detailed timeline.
Timeshare Broker Associates is proud to be a Featured Reseller of Wyndham Vacation Resorts, providing assistance and resources to owners who wish to resell their timeshare interest.
Can I Sell My Club Wyndham Timeshare or Deeded Ownership?
Whether it is a fixed week or points-based ownership, Timeshare Broker Associates can help. We assist owners sell non-deeded ownerships, such as Club Wyndham Access or Worldmark by Wyndham timeshares or deeded ownerships like Wyndham Bonnet Creek. 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 advanced or “up-front” listing fee.
With TBA, every part of the sales process is documented, from the creation of listing agreements through the negotiations necessary to complete a successful timeshare sale. Once a buyer is found, Timeshare Broker Associate’s 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.
Featured Resellers for Wyndham Timeshares
As a Featured Reseller for Wyndham, we are confident we can help you sell:
1) 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.
2) No Up-Front Fees – Timeshare Broker Associates 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.
3) Vetted – by Wyndham as well as being a member of the industry’s leading trade association, the American Resort Development Association, and the National Association of Realtors.
4) Experienced – Timeshare Broker Associates has worked closely with Wyndham since 2015, with in-depth knowledge of the programs and resorts necessary to facilitate a smooth sales transaction.
Ready to Sell Your Wyndham Timeshare?
To begin the process of selling your Wyndham timeshare, please give one of our Wyndham specialists a call at (877) 624-6889. You may also fill out the form on this page and a licensed agent will phone you to answer any questions you may have.
FAQ on Selling Your Wyndham Timeshare
Can I Sell My Timeshare Back to Wyndham?
Wyndham refers sellers to featured timeshare resellers who have been vetted by the company, so they do not offer a way to sell timeshare back to Wyndham. Owners can contact 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 Wyndham, owners can also contact TBA to assess their ownership. 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 Wyndham Timeshare?
Wyndham club points owners can sell their points in a few ways. Whether you choose to sell your Club Wyndham points yourself, advertise through a timeshare resale advertising company, or use a licensed timeshare broker, you have definite options.
Selling a Wyndham timeshare yourself means you choose the marketing method 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 Wyndham timeshare or Club points would purchase an ad in order to advertise on the site. Some sellers don’t prefer this option because they would be paying for an ad first without knowing if their timeshare will sell.
Using a licensed timeshare 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 points owners contact agents and discuss their options, then decide to list their timeshare with the agent. Once the timeshare is up 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 Wyndham Timeshare?
There are a few ways to get rid of a Wyndham timeshare, or to Exit Wyndham 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 Wyndham so they can process the transfer documents and agree on who pays the transfer fee associated with the timeshare.
You can try contacting Wyndham 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 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 Wyndham 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 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 Wyndham timeshare is worth on the resale market.
Wyndham estimates that the average new sale price of a Wyndham timeshare is about $21,000 for a week of timeshare, 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 legally 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 Wyndham Timeshare?
Paying for a Wyndham 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 Wyndham, the resort HOA or the management company for the on-going maintenance and operation of the resort or club program. By not paying these fees, an owner runs the risk of Wyndham foreclosing on the ownership.
In both instances, either the lender or Wyndham 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.
Is it hard to get out of Wyndham timeshare?
This depends on several factors, but one thing is for sure - using a Wyndham featured reseller like Timeshare Broker Associates will make it easier to get out of a Wyndham timeshare. That’s because of the relationship we have with the world’s largest timeshare company, streamlining the sales process to be as simple and efficient as possible.
Getting out of a timeshare can be hard if, for example, the seller doesn’t have the property priced right for the resale market. Also – sellers should understand the differences between selling a Wyndham points product compared to selling a deeded product. Patience is also important, as it may take some time to locate a buyer so try not to be anxious and let the process take its course.