Trade-In
Trading-in a timeshare is a very similar transaction to that of trading a used car for a new car. With a trade-in option, you would be “trading-in” the old timeshare for a new timeshare which you like more. The first step to doing a trade-in is to get an appraisal, which our agents can do for you for no additional cost. The second step is to analyze how you are vacationing now and determine which timeshare might be a better fit for you. Once that is determined, our agents can arrange for you to travel to stay on the property and attend a sales presentation with the new developer. The new developer would then make you an offer to trade-in the old timeshare by giving a discount off of the new timeshare. This is generally the only timeshare exit strategy which allows you to receive consideration close to what it is actually selling for in the primary market (what you paid for the timeshare).
Pros:
- A True Exit Option: You are able exit the old timeshare (so you are no longer obligated to pay the maintenance fees).
- You are generally offered an amount that is comparable to what your timeshare is selling for in the primary market (what your timeshare company is selling them for now in their sales rooms).
- The second developer usually hires a third party trade-in or transfer company, so that you are not directly responsible for exiting the old timeshare (in other words, a pro handles the paperwork for you).
- Is a way to apply a previous timeshare purchase towards a new timeshare
Cons:
- Expense: You are required to purchase a new timeshare! (but hopefully you like…no love! the second one!)
- This process can take time. This process can take anywhere from 6 months to 2 years, depending on how quickly you can visit the new timeshare company.
- You will be obligated to pay the maintenance fees for the old timeshare until it is officially transferred out of your name. There is a possibility that there might be a year where you pay the maintenance fees for both the old and new timeshares at the same time (however, this can be negotiated at point of sale with the new developer).
TSR charges a $495 advisory fee for trade-in services. This includes the property appraisal (done ahead of time for free), the interview to help you discover which new timeshare might be a better fit for you, arrangement for discounted travel so you can see the new timeshare in person, coordination with the new timeshare company to arrange a presentation which includes negotiation to trade-in the old timeshare. At the end of the day, the negotiations to trade-in the old timeshare for the new one will be up to you and the new timeshare company, but we can help and advise you every step along the way.