SellMyTimeshareNow Review

So far, we've given you an introduction to how timeshares work, and told you about SellMyTimeshareNow's role as a timeshare resale network.  But the question needs to be asked: why use SellMyTimeshareNow to buy, rent, sell, or rent out a timeshare, as opposed to using alternatives?  We'll outline some of the possible reasons you may or may not want to make use of its services.

Pros

  • Great for all kinds of timeshare transactions — Whether you're looking to buy, sell, rent, or rent out a timeshare, SellMyTimeshareNow has ways to make it happen. At the very least, they can put you in contact with someone who can make it happen.

  • Size equals exposure and choice — SellMyTimeshareNow is one of the largest timeshare resale networks of its kind, with over 50,000 timeshares for sale or rent from over 5,000 resorts worldwide.  It also gets as many as 10,000 unique visitors daily, which means more people who might find your timeshare advertisement and want to do business with you!

  • Get away in a hurry — If you're looking to vacation immediately, SellMyTimeshareNow has a "Book Now" feature, as well as a “Last-Minute Rentals” page.  These allow you to rent a timeshare on the spot for a fixed length of time and at a fixed rate.  No muss, no fuss! Just book your stay and pack your bags!

  • Need the extra info? — In addition to acting as a portal for advertising timeshares for sale or rent, it has lots of extra resources on how timeshares work.  From common questions asked by people looking to sell their timeshares to tips on avoiding shady timeshare deals and promotions, SellMyTimeshareNow will make sure that you are as informed as possible about the ins and outs of timeshare transactions.  It even has a function that lets you estimate the market value of your timeshare!

Cons

  • I know what to do, but how do I do it? — Though SellMyTimeshareNow has lots of helpful resources on buying, selling, renting, or renting out timeshares, they notably lack a centralized "help" section for how to use their website.  Fortunately, TechBoomers is here to walk you through the basic functions!

  • Take it offline — With the exception of the "Book Now" feature, most timeshare transactions on SellMyTimeshareNow have to be completed off the website.  You will usually have to get in contact with a property owner/manager, an agent, or both.  After all, buying or selling a timeshare is a complicated process, but SellMyTimeshareNow can make it less so.

The bottom line: 7.5/10

SellMyTimeshareNow is one of the best resources around when it comes to buying, renting, selling, or renting out a timeshare on the secondary market.  It's one of the biggest timeshare marketplaces of its kind, and is full of all sorts of information on how timeshares work… including how to make timeshares cost-effective alternative travel accommodations for your vacation.  Plus, if you're in a hurry to get away, SellMyTimeshareNow features timeshare owners who are willing to rent out their property to you for a fixed length of time and price!  Just book and go!

One of the major drawbacks of the timeshare platform is that almost all of its functions need to be completed off the website, unlike other common online marketplaces.  You often have to exchange phone calls and/or emails with a SellMyTimeshareNow resale agent, a timeshare owner/manager, or both.  However, this is largely to account for the complexity of timeshare transactions, and to make sure that the advertising, sale, and/or purchase process goes as smoothly as possible. 

Our other nitpick with SellMyTimeshareNow is that, while it contains a lot of information about timeshares, it doesn't include much help regarding how to actually use its various services.  That's why TechBoomers wrote this course to show you how the main functions work!

Is SellMyTimeshareNow legitimate?

Yes, SellMyTimeshareNow is a legitimate company and has been in business since 2003. It is also one of the largest and most active timeshare resale and rental marketplaces. More to the point, it has never had a case involving fraudulent timeshare activity brought against it in court.

However, keep in mind that not all companies have the same record as SellMyTimeshareNow, and that timeshare scams can still happen. So if you choose to go with another timeshare resale company, be sure to read our article on how to avoid timeshare scams.

 

Well, that's our review of SellMyTimeshareNow.  Check out the other articles in this course to learn how to rent, buy, or sell a timeshare on SellMyTimeshareNow.


What Is SellMyTimeshareNow?

Now that we've explained what timeshares are and how they work, you may be wondering how a website like SellMyTimeshareNow.com fits into the picture.  Well, as we explained, it's a great resource for getting into the timeshare resale market, where you can buy, rent, or sell timeshares without going through the usual channels of dealing directly with resorts (or owners at resorts).  But what exactly is SellMyTimeshareNow?

SellMyTimeshareNow is the largest online marketplace for discounted timeshare rentals and sales by owner.  Similar to other vacation rental sites, all properties on SellMyTimeshareNow are owned and/or managed by individuals. However, these properties can be bought and sold in addition to being rented.

Why use SellMyTimeshareNow to buy or rent a timeshare?

If you are searching for a better and more affordable way to get away with your loved ones, SellMyTimeshareNow has your perfect solution.  Here's why:

  • Buying or renting a timeshare on SellMyTimeshareNow is more cost-effective than staying at a hotel, as you can negotiate the price of your purchase  or rental directly with the owner.

  • Timeshare suites offer more in-unit amenities than a hotel room, including multiple bedrooms and bathrooms, full kitchens, living and dining space, and even private balconies.

  • Staying at a timeshare means that you get the added services and amenities of a lavish resort right at your fingertips.

  • Timeshares give you the option to book and lock in your future vacation accommodations at a discounted rate

So, in short, what does buying or renting a timeshare through SellMyTimeshareNow offer for your vacation(s)?  All the comforts of home, combined with all the features of an upscale resort, for less than the average area hotel cost!

How SellMyTimeshareNow works

For prospective timeshare buyers and renters

At SellMyTimeshareNow, you can browse through a vast selection of timeshares for sale or rent at thousands of different resorts worldwide.  Or, if you're looking for timeshares in specific locations or with specific amenities, you can use the website's convenient search options to narrow down your choices. Best of all, you can shop for timeshares on SellMyTimeshareNow at your own pace, in the comfort of your own home, without having to go directly to a resort and sit through a high-pressure sales pitch!

When you find an advertisement for a timeshare that you're interested in, you can negotiate the purchase or rental price with the owner directly.  Or, you can contact SellMyTimeshareNow and have them handle the haggling for you.  If you decide to go it alone when renting a timeshare, you can make an offer on the property that you like.  Or, you can use the "Book Now" option on qualifying timeshare rental listings if you're in a hurry to book and think that the initial asking price is fair.  If you want to purchase a timeshare instead, the website will refer you to a preferred licensed closing company to assist with all the legal paperwork.

For timeshare owners looking to sell or rent out their property

If you're an owner looking to sell or rent out your timeshare, SellMyTimeshareNow offers simple, comprehensive services.  First, use their free three-step market value survey to determine the resale value of your timeshare ownership.  Then, work with their experienced staff to choose a subscription package for advertising that makes sense for you.  You can even create a customized advertisement based on the specifics of your unique timeshare!  From there, you can field offers through your personal email account, or have them call you directly whenever an offer is made on your listing(s). 

 

We’ll teach you everything you need to know about using SellMyTimeshareNow to rent, buy, or sell a timeshare in the rest of the SellMyTimeshareNow course on TechBoomers.


What Are Timeshares and How Do They Work?

Timeshares may seem like a complicated concept at first, but the more you know, the more you can benefit from timeshare ownership. If you are a new timeshare owner, or someone who is interested in purchasing a vacation ownership property, there is no doubt you are wondering: how do timeshares work? This goal of this lesson is to provide you with an overview of timesharing and its benefits.

A timeshare (also often called vacation ownership) is an arrangement in which multiple owners share the rights to use a vacation property. Each owner is allotted a specific amount of time (typically a week). Timeshares appeal to many avid vacationers, because you can guarantee your vacation accommodations each year.

However, the term “timeshare” is now often used to generally describe systems of joint ownership of vacation properties or resort units. There is now more flexibility than ever before in the types of timeshares you can own, and how you can use them. To learn more about the types of vacation ownership now available, read on.

How do timeshares work?

There are two main types of timeshare ownership.  With deeded ownership, you own the timeshare indefinitely; you can rent it out, give it away, leave it to heirs, or sell it at any time.  With “right to use”, you can still rent out or sell your timeshare, but when your lease expires, the developer regains ownership.

Within the two types of ownership explained above, there are a number of different options available to you as a potential buyer. Which you choose will depend on your vacation habits and need for flexibility.

  • Fixed Week Timeshares — you own a specific unit type for a specific week at a single “home” resort. This is a great choice for owners who like to return to the same destination every year.
  • Floating Week Timeshares — you own a specific unit type for a week within a specific season (defined as blocks of weeks).  As a floating week owner, you can reserve a different week within your season each year, giving you greater flexibility in when you can travel. Some floating week ownerships may also offer the option to book stays within a network of resorts rather than at a single home resort.
  • Fractional Timeshare Ownership — though technically not a timeshare, it’s similar to timeshare ownership in many ways. With fractionals, you own a timeshare for a longer block of time than a single week (usually ranging from 4 to 12 weeks), and — similar to a fixed week timeshare — your usage falls within the same period each year.
  • Timeshare Points — possibly the most flexible timeshare ownership option. With this type of ownership, you purchase an allotment of points that you can use within a “vacation club” or network of affiliated resorts. You can think of points as a form of currency that can be redeemed for vacation accommodations. Points also do not tie you to a single unit type or size. Vacation clubs that offer points also frequently offer the option to roll your points over into the next year and enjoy a vacation upgrade.  You can also often split your points up and go on a couple of shorter vacations each year.

In most cases, you can also choose how often you’d like to make use of the timeshare yourself.

  • Annual — the most common frequency; you can use your timeshare once every year.
  • Biannual — you can use your timeshare twice every year.
  • Biennial — you can use your timeshare once every other year.
  • Triennial — the least common frequency; you can use your timeshare once every 3 years.

In addition, timeshare owners can take advantage of timeshares outside of their resort network through a process called “external timeshare exchange”. So, if, for example, you own a Wyndham timeshare, you automatically have access to all of Wyndham’s timeshare resorts.  But what if you want to visit a Marriott resort one year instead?

For an annual fee, timeshare owners can purchase a membership to a company that manages external timeshare exchanges, such as Resort Condominiums International (R.C.I.) or Interval International.  This gives them access to vacation properties affiliated with their external timeshare exchange company of choice, regardless of what brand or resort network those properties belong to.  Though additional fees apply to each exchange, having a membership with an external timeshare exchange company gives you greater freedom in choosing exactly where you want to stay while on vacation.  It can also sometimes result in you being offered discounts on additional vacation rentals and opportunities.

What are the pros and cons of timeshares?

Pros

As we’ve mentioned, one of the biggest “pros” of timeshares is their reliability.  That is, since you own the right to use a property for a specific period of time, you have the final say in whether or not you will be using the property yourself for that period of time, or will be temporarily renting it out to someone else.  This is useful if you have a favorite vacation spot and like to go there at the same time every year; you won’t have to run around booking other accommodations, because you can just use your timeshare instead.

As we’ve also explained, timeshares can be flexible, too.  If you don’t feel like using your timeshare during the same block of time every year, there are some arrangements in which you can pick a week (or two) from among a particular block of weeks in a season.  In some arrangements, you can also split up your vacation time between two different properties in your resort network, or forego vacationing for one or more years so you can save up for a vacation at a higher-end property in your network during a later year.  You can even vacation at timeshares outside of your resort network if you buy a membership to an external timeshare exchange group.

Cons

One thing to be wary of if you’re thinking of purchasing a timeshare is the potential cost involved.  First of all, you have to pay for the ownership of the timeshare (for whatever length of time you’ll be using it each year).  In addition, if you cannot pay for the timeshare in full at the time of purchase, you will incur interest charges through financing the purchase through a mortgage, line of credit, or the like.  Finally, you will be expected to share annual maintenance costs — for things like upkeep, landscaping, and renovations — with your timeshare co-owners.  Note that these costs can vary greatly depending on what type of timeshare you purchase, and where it is located.

Another potential “con” to owning a timeshare is that it’s a very competitive industry, at least right now.  This means that there are plenty of people looking to sell or rent out their timeshares, but not as many looking to rent or buy them.  This is where having a company such as SellMyTimeshareNow on your side to advertise your timeshare to a larger audience can be a big help.  See our article on how to sell timeshares on SellMyTimeshareNow for more information.

Where can I buy, rent, or sell timeshares?

Timeshares are most commonly purchased at resorts.  This usually follows the buyer’s attendance at a timeshare sales presentation. And there is something to be said for experiencing a resort first-hand before purchasing a timeshare on it. However, keep in mind that timeshares sold this way are often much more expensive than timeshares sold elsewhere. Resorts often engage in expensive promotions and giveaways to bring in potential buyers, resulting in markup to cover marketing expenses. Another thing to keep in mind is that you can negotiate with the sales representative. If you are considering purchasing a timeshare directly from a resort or developer, be wary of accepting the first price that is offered to you.

Less commonly known is the option to buy a timeshare on the resale market.  Owners who no longer have a need for their vacation properties can advertise them on the resale market.  Similar to traditional real estate, you may find timeshares for sale by owner, as well as timeshares for sale through licensed real estate agents.

One of the main benefits of purchasing a timeshare through the secondary market is that you can often find timeshares at incredible discounts, compared to the pricing you would find when attempting to buy one directly from a resort.  Another advantage is that you can submit offers for a timeshare that are less than the asking price, just like you would be able to if you were looking to purchase a home.  Again, SellMyTimeshareNow is a great resource if you’re looking to deal with this side of the timeshare industry.

That completes our introduction to timeshares! For more information on timeshares, consider reading the other articles in our SellMyTimeshareNow course. To learn about further advantages of purchasing or renting timeshares by owner, check out the information guides available on SellMyTimeshareNow.com.