The Buying Process
 Negotiation is the point at which the buying process may begin, or the point at which a buyer or seller moves onto other prospects. Price is usually the topic of negotiations. But sometimes a buyer may request the seller to pay maintenance fees for the upcoming year as well. Another topic of negotiations is often what to do with fees in arrear for a property being sold. Most resorts will not allow a property to change ownership until maintenance fees or membership dues are brought current. There are multiple ways to deal with this kind of scenario, but the policies on how to sell a property with fees in arrear may vary between resorts and may or may not have room for negotiation. In many cases, if a buyer is to pay for amounted fees, they seller will adjust the sales price of their property accordingly, and in many cases, this is how the negotiations will affect the total amount paid for a property with fees in arrear. The topic of negotiation is only relevant to the resale market. Negotiations do not take place when buying a property at retail.
Completing Negotiations
Once negotiations are complete between a buyer and seller, a purchase agreement is created to note the terms of the transaction and the agreement between the two parties. Earnest money put forth by the buyer as a show of good faith in the intention of buying the property from the seller. An estopples certificate may also be put forth to address and confirm issues that may affect title.
It’s also important to note that some resorts retain a right known as right of first refusal or ROFR. The right of first refusal essentially ensures that the resort in which a property was purchased primarily, has the first chance at buying the property back should you decide to sale. Only after the resort has refused their option to buy the property back from you, can you enter a contractual agreement to sale with a third party. Even when a property is bought on the resale market, the resort will still own the right of first refusal.
The steps of the buying process can be simplified in explanation, but the paperwork that is required to ensure the substantial validity and adherence to state and federal laws can be lengthy, and numerous. Whether or not you decide to forego the buying process yourself or request the aide of a timeshare resale specialist, the supporting paperwork, documentation and contracts are a requirement for a timeshare property sales transaction. There are for sale by owner companies that exist online and at real estate offices that provide the formalities to support a legitimate sale of a timeshare between a seller and buyer as well as timeshare sales agents who specialize in mediating the sale of timeshare property between buyers and sellers. Regardless of the method chosen by the seller, it is your responsibility as the buyer to ensure legitimacy, legality and morality of the sales process taking place.
I want to mention the topic of pricing briefly. In developing this guide, nothing would be more helpful than listing a pricing guide. The problem, however, is that pricing for vacation property fluctuates on the retail market, and is at the seller’s discretion in the resale market. It’s difficult to even suggest a price range that is within reasonable dependability. I acknowledge that it helps to have an expectation of price when attempting to set a budget, but you may not have that luxury until you begin shopping around for timeshares. One way to tackle this problem is to get in touch with a timeshare resale specialist and share your list of demands with them, and give them an idea of what amount you are content with putting to buy timeshare property. You may be surprised at the potential offers you get.
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Selling Timeshare Owner's Guide: Contents
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