This question gets asked a lot. Usually it happens after someone receives their annual maintenance fee bill from Whyndham. It is never a bad idea to try and sell your timeshare back to the company you purchased it from, but in most cases you are going to have little luck in the process. And here is why…
Why can’t you sell your timeshare back to Wyndham?
It comes down to dollars and cents. You have a contract that obligates you to pay a maintenance fee indefinitely. Most times, timeshare facilities don’t make their money of the initial sale of the property. In reality, a large portion of that sale fee goes to the sales staff that generates the sale and to cover the cost of marketing. Where they make their money is in the endless annual maintenance fees. They are not in a hurry to give those up.
If you are property is in a highly sought after area like Orlando, Fl. near Disney, you may have better luck. Often times these properties are more open to taking back properties that they know will be easy to resell when because the property is already sold out. This is more of the exception than the rule.
My best advice is this… call up Wyndham right now and check. And when you (chances are that you will) get a “NO… we won’t take it back” reply, it’s time to take the more reliable route…
If you are not interested in selling your timeshare directly to another 3rd party wishing to buy, your best bet is to use a third party timeshare group. These are companies that take title of your property directly instead of claiming to help you sell it to another person. When they have enough of them, the larger companies like Wyndham will take them back in bulk. The odd’s of Wyndham being interested in your single timeshare low. These companies basically specialize in all the pain staking tasks required to transfer timeshare title and ownership.
Is there a fee to use one of these companies to sell? My timeshare is worth money right…?
The answer is that it depends. Sometimes they will offer the service at no cost if the property does actually have some value, but in most cases you are going to have to spend a little money for the convenience of not having to go thru the hassle of dealing with title transfer, legal services, and the myriad of other issues that arise when trying to exit a Wyndham timeshare property or any other property.
How do you know if using a paid service makes sense?
It is really a time & money thing. How much is your time worth? On average, attempting to sell a timeshare yourself will take you between 150-300 hours of effort after all said and done. Remember the last time your sold a house? Remember how much of an effort that was. A Timeshare sale is similar if not more complicated and most real estate agents don’t know the nuances required to make sure that you are protected and are no longer legally obligated to pay maitenance fees.
Think about how much money you make working 150-300 hours and then decided whether it makes sense to at least talk to a 3rd party assistance service, you can always decide later after you have all the information. We have several listed on our website that have good reputation in the industry. Each is a little different and has their own benefit, but they are a great place to start your search for an exit solution from a Wyndham timeshare or any other.