For some owners, there may come a time when you are not getting enough use out of your timeshare to justify keeping it. Or, due to lifestyle changes or ongoing maintenance fees, your timeshare is no longer a good fit. Luckily, there are options, and listing it on the resale market is a safe and straightforward way to let go of your timeshare. If you’re curious about how to sell your Westgate timeshare, we can help. This complete guide can help you decide which is the next best step for you.
What is Westgate Timeshare?
In 1982, Westgate Resorts was founded by David A. Siegel. The brand now has 60 resorts across the United States. Additionally, it is the largest privately-held corporation in Central Florida. The vacation experiences offered by Westgate timeshares traverse snowy mountains and sandy beaches. The Orlando location is an owner-favorite since it is situated right near the Disney and Universal theme parks. What’s more, the Westgate Smoky Mountains resort boasts an indoor/outdoor waterpark for family fun.
Westgate Owners Have Exchange Options
You may be considering selling your timeshare because you want a change of pace and to vacation in other destinations. A great thing about being a Westgate owner is that you are eligible to join the Interval International exchange network to experience more vacation options. With Interval International, members can exchange time at their home resort for a vacation at another one. The diverse locations within Westgate’s network also allow members more choices. We recommend contacting your developer to determine your options for exchange.
If you are a Westgate owner and have already considered exchange as an option and would still like to sell, keep reading for more tips.
Sell Westgate Timeshare
The first step you should take when selling your Westgate timeshare is contacting your resort. They will be able to guide you through their recommended selling process and discuss what you own. You should also visit ResponsibleExit.com. This is a website created by the American Resort Development Association and is designed to help Westgate owners exit their timeshare safely. Westgate Resorts also offers its Legacy Program. This is a case-by-case program where Westgate walks you through your options of letting go of your timeshare to help you find the best solution for you. They can explain their developer-release program and offer advice on navigating the resale market.
Important Considerations When Selling
Before diving into the sales process, keep in mind a few key aspects that can impact your experience:
- Title company costs: There are often fees associated with transferring ownership, typically handled by a licensed third-party title company.
- Market value versus perceived value: The resale market for timeshares is different from the retail market. Be prepared that your timeshare will likely sell for less than what you originally paid.
- Tax implications: Selling your timeshare could have tax consequences, especially if you experience a gain or loss. It’s a good idea to consult a tax professional to understand your specific situation.
Can I Sell My Timeshare Back to Westgate?
This is a question you should ask your developer. Additionally, if you have recently purchased your timeshare and have decided you no longer want it, review your contract and give Westgate a call. When a timeshare is purchased, there is a short rescission window where you can cancel your purchase. If the time for this has passed, call Westgate and see what they recommend for you to do.
Avoid Timeshare Exit Team Scams
Many timeshare “exit” teams advertise that they can cancel your timeshare contract for you. Be wary of these promises as many owners have been victims of fraud by such companies. Since a timeshare is most often a deeded property, you should be cautious when someone tells you they can “cancel” it, especially if you have a mortgage.
When choosing a company to work with, we recommend choosing one that is approved by ARDA. ARDA-accredited companies are held to a high standard of quality and integrity in order to protect timeshare owners. At Fidelity Real Estate, we are accredited by ARDA and the BBB for our work in timeshare resales. Our Licensed Real Estate Agents are timeshare resale experts and have helped countless owners sell their timeshares.
It’s important to note that working directly with a trusted, licensed real estate agent gives you the best protection throughout the sales process. Before considering any third-party “exit,” “transfer,” or “relief” services, always consult with your resort or an ARDA-accredited company first to ensure you receive accurate information about your ownership and steer clear of fraudulent resale scams. Remember, reputable companies will be transparent about your options and will never promise unrealistic results or request upfront fees without providing clear details about their services.
By choosing a professional agency with proper credentials, you can have peace of mind knowing your interests are protected from start to finish while you sell your Westgate timeshare.
Sell My Timeshare Now
After you have contacted your resort, give us a call at 1-855-291-6163. Our agency of Licensed Real Estate Agents have over 20 years of experience selling timeshares. During your initial phone call, one of our agents can walk you through the steps to sell your timeshare with Fidelity if you choose to do so. By working with us, you will have a trusted agent by your side during the entire sales process.
What Are the Legal Requirements for Selling a Timeshare?
When it comes to selling Westgate timeshare, the process isn’t as simple as handing over your keys and calling it a day. There are a few legal hoops to jump through to ensure a smooth and legitimate transfer. By working with a licensed real estate brokerage like Fidelity, these details are handled seamlessly.
Key legal requirements to keep in mind:
- Title and Ownership Verification: Before listing your timeshare, confirm that your ownership is clear and all fees or mortgages are paid up. Having outstanding dues can stall or block the sale.
- Resale Regulations: Different states have their own laws around timeshare resales. It’s smart to check with the relevant state real estate commission or consult the American Resort Development Association (ARDA) for up-to-date guidance.
- Resale Contracts: All transactions should be documented with a proper sales contract. This contract needs to outline financial terms, usage rights, transfer fees, and any resort-specific rules.
- Transfer of Deed: Depending on the type of timeshare and location, the deed or usage right will need to be officially transferred, typically filed with the local county or resort.
- Licensed Brokers: While you might be tempted by flashy third-party companies promising quick sales, work with licensed real estate brokers who specialize in timeshares. The Better Business Bureau (BBB) or ARDA’s list of approved resale brokers are good places to vet options.
Doing your homework on these requirements will not only help you avoid scams but make the selling journey a lot less stressful.
How Do I Sell Westgate Timeshare?
First, we work with you to list your timeshare for sale on our online marketplace. When a buyer makes an offer, your agent will give you a call and can help you negotiate pricing and terms. After a contract is drawn up and signed by both parties, the contract will be sent to the resort. The resort has the Right of First Refusal (ROFR) before the sale proceeds. If the resort accepts the contract, the sale proceeds as usual, except that the resort assumes the terms of the buyer. If the resort declines the ROFR, the sale proceeds as before with the initial buyer. Our team will recommend a licensed title company to transfer the title out of your name.
