Why don’t you charge to list my timeshare property for sale?
LFBC does allow you to list your property for no up-front fees; however, we require that you use our deed preparation service to complete the necessary paperwork to transfer your property once you accept an offer. There is a fee of $399.00 for this service. Most resale companies charge large up-front listing fees because they have hired sales people or telemarketers to solicit your business and have to pay them a commission. Since our “soliciting” is done on-line, we can offer to list your property for no fee. Please keep in mind that if your resort charges any fees to verify the information we require in order to list your week, those fees must be paid by the owner before the property will be added to our available inventory. If any other outside fees are incurred, they are the responsibility of the owner.

What are timeshare resale companies and how do they work?
These are companies that deal in the selling of timeshares that have been previously owned. The companies sometimes own the property they are selling but usually do not. Therefore, they can only act as third party agents or brokers for others. There are resale companies that will help you sell your timeshare and let you pay a commission at closing. Others try to get you to pay a fee up-front for advertising, an appraisal, etc. We suggest you investigate any company you consider doing business with before signing a contract to allow them to sell your timeshare. Once you have paid money up-front, it is almost impossible to get it back if the company does not follow through with their part of the deal. More often than not, the ones that charge up-front listing fees and promise unbelievable profits do not sell your timeshare. They take your money, you still own the property, and you are still responsible for all of the fees associated with your timeshare ownership even though you paid them a large amount to help you sell.

How long will it take to sell my timeshare?
It is difficult to determine an average length of time it will take to sell any timeshare property. There are many factors that influence the sales process including location, resort quality, season, and price. No timeshares are identical so there is not really a way to measure the time it takes to sell one even based on previous sales. For example, even if you own two of the same weeks at the same resort, the unit number will be different and one may have a better view than the other. Maybe you own two consecutive weeks in the same unit; however, each of those weeks will have different ratings based on demands for those particular dates.

Do I need an appraisal to sell my timeshare?
No. You will not need an appraisal to sell your timeshare property with LFBC. Some timeshare resale companies will tell you that an appraisal is required and charge a fee for this service. In most of those cases, your appraisal is simply an average price for the geographical area/week/season you are selling and they quote this as an “appraised value”. We will not charge you for an appraisal fee.

How much is my timeshare worth?
That is a difficult question to answer. Since no two timeshares are alike, determining what to ask for yours can be difficult. When purchasing directly from a resort or development company, the prices will be much higher due to sales and marketing costs. If you as an owner wish to sell your timeshare, you should research what other timeshares comparable to yours are being sold for and decide on an asking price based on this information.

Why is the timeshare resale market much less expensive than buying directly from the resort or developer?
When a resort or developer sells timeshares, they spend a lot of money up-front on sales and marketing costs. Due to those initial out-of-pocket costs, they set prices high to recover their investment. When you buy a timeshare through resale, you are purchasing just the product, not paying for the added expenses of advertising.

Do I lose any of the benefits by purchasing a timeshare on the resale market as opposed to buying directly from the resort or developer?
In most cases owners who purchase through resale receive the same benefits and privileges as the previous owners; however, there may be some exceptions. You should ask the seller if there are any special provisions written into the original contract that do not transfer with the timeshare property or if there are any benefits that may not apply.

Do I need an attorney to handle the sale transaction?
LFBC has a deed preparation department that will handle the deed transfer for your property. By listing your property with LFBC, you agree to use our deed preparation services once an offer is accepted. Our deed preparation services are very reasonable.  Our fee is $399.00 for the transfer paperwork. This includes preparing the new deed, sending it to each party for signatures, and then having it recorded after it is returned to us. Once we receive the original recorded deed back from the courthouse, we will mail it to the new owner and notify the resort of the change in ownership.  However, we do not handle the actual transfer of money between the buyer and the seller.  For this, you may or may not desire to involve an attorney depending on your specific situation.

What if I don’t have a copy of my deed?
A copy of your deed will be needed in order to complete the necessary paperwork to transfer the property. You can usually contact the courthouse in the county where the property is located and they can tell you how to obtain a copy of your deed.

Are there any other fees involved in selling my timeshare?
There are no hidden fees involved when listing with LFBC. The only fees you will incur from us will be for the deed transfer from our deed preparation services. If you list your week with LFBC, you are required to use our deed preparation services for a fee of $399.00. Please keep in mind that if your resort charges any fees to verify the information we require in order to list your week, those fees must be paid by the owner before the property will be added to our inventory. If any other outside fees are incurred, they are the responsibility of the owner.

Will my resort resell my property?
Most resorts do not offer resale programs. Most resorts have unsold inventory being sold by their sales department which means they focus on selling that inventory rather than getting into resales.

How much should I pay for a timeshare?
The cost of timeshares can vary widely depending on whether you are buying from an individual owner or from the resort/developer. Since the resort/developer has high sales and marketing costs, you will most likely pay more if you purchase from them. If purchasing from an individual owner, those initial sales and marketing costs have already been paid. The cost of purchasing a timeshare depends on a number of factors including:

• Location and size of unit
• Season
• Quality of the resort (new resort or older and in what condition)
• Rating of the resort and the amenities they offer
• Being sold by resort/developer or an individual owner
• Type of timeshare (Deeded or Certificate)

Other costs to consider before purchasing a timeshare week are the annual fees the resort charges for maintenance, insurance, and utilities. You may also have to pay fees involved in the preparation of the transfer documents, recording, and transfer fees, along with the initial maintenance fee. The expense of traveling to and from the resort should also be included if you are figuring your total costs for owning a timeshare and using it each year.

How do I close on the deal once I accept an offer on my property?
Once you accept an offer to purchase your property, we will prepare the necessary paperwork to transfer your timeshare week for a fee of $399.00. After we prepare the new deed, we will send it for signatures, and then file it with the appropriate courthouse to be recorded. Once we receive the original recorded deed back from the courthouse, we will notify the resort of the change and mail the deed to the new owner. We do not handle escrow, so the transfer of monies is up to the buyer and seller (owner).