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What is a reasonable sale price for your timeshare?
- Calculate Sale Price -
(Worksheet and Checklist)
Printer Friendly Checklist in Word format
Worksheet
Please keep the following factors in mind as you estimate your timeshare resale price:
- Estimate the cost of a similar but “new” timeshare
- Then subtract at least 20% to 30% to be viable in the resale market
- Compare this figure with what you originally paid for your timeshare
- Calculate what you need to receive to cover your costs
- If necessary, allow for legal fees to clear & transfer title to the new owner
- Estimate value of the banked and/or bonus weeks you are offering the new owner
- Go to the Listings page to view comparable timeshare resales listings
- Allow a little room for negotiation!
If you choose to have a realtor represent you, then please factor in the following costs:
- Allow for the 7 to 15% Real Estate Commission payable on the sale price. Commissions may be higher on lower priced transactions, such as timeshares
- Allow for 7% G.S.T. payable on the commission amount
Having considered the above, decide on a price.
Remember, you can always negotiate
further when you get an interested buyer.
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Checklist of documents needed for the sale
You may need a copy of the following documents for your file so that you can properly offer background information to pass along to prospective buyers when an offer is pending. In this way, they will understand exactly what benefits and obligations they are assuming when they purchase your timeshare. If for any reason you are missing one or more of the following kinds of information, please call Pacific Shores Resort & Spa and/or RCI as appropriate, to get a current copy.
- Confirmation of legal names on title, legal description, type of timeshare, Property Identification number (PID), unit and week purchased. This information can be found on the following:
- BC Assessment Authority statement and/or
- Legal document from Dorothy Clarkstone, Notary Public or other legal office used to purchase
- Confirmation of maintenance fee paid or payable for the current calendar year. This information can be found on the “2003 Maintenance Fee Invoice” sent to you by Pacific Shores.
- Confirmation of your intended use of your timeshare for the next calendar year as stated on the “2003/4 Usage Notifications” sent to you by Pacific Shores.
- Confirmation of your banked or bonus weeks or points as stated on your Spacebank deposit acknowledgement forms from RCI. Please highlight expiry dates if any of your banked time must be used this calendar year. This could serve as an incentive for a buyer to purchase sooner rather than missing out on available vacation time!
- It would be helpful to know the start date of your usage year, if different from the typical calendar year starting January 1st each year (i.e., the date your maintenance fees are payable and when points, if you are on the points system, are added to your RCI account).
- Please verify the status of any other Real Estate listing arrangement you may have made in the past to be sure that it has expired. Also, if you have listed your timeshare with a brokerage firm, please verify your obligation to that firm if your timeshare sells.
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Prefer a Realtor?
Should you require a realtor, please call any local real estate office to see if they have a realtor experienced in timeshare sales.
Need a notary?
Dorothy Clarkstone, Notary Public has worked extensively with PSRS resales. You can reach her at:
Dorothy Clarkstone
Notary Public
3151 Third Avenue, Port Alberni, B.C. V9Y 4C7
Phone (250) 723 9747
Fax (250) 723-9721
Email dclarkstone@notaries.bc.ca
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