Buy backs are frequently said rarely done. At the very core you must understand that your home resort is a business. If you have a deeded or fixed vacation contract with a limited supply available for the resort to sell you can bet your bottom dollar that they will be interested in purchasing back and flipping any of that inventory. Most contracts now a day have flexibility built into them. This flexibility will be experienced two ways. The members will have the availability of more “freedom” in choosing different destinations without fixed weeks and the resort will be able to maximize their inventory almost unlimitedly. This makes the resorts inventory very high, and their interest in anything other than selling it ASAP very low.
Like in standard real estate many factors influence current cost on a given membership. One stark contrast is that the vacation property market can be very volatile. Things ranging from travel bans to social media can lead to sudden depressions or spikes in the market. Halicon Brokerage Group agents are true negotiators and are seasoned in the vacation property field we are at your disposition for a helping hand in pricing and sales expectations.
Travel and tourism generated US$7.6 trillion (10.2% of global GDP) in 2016 alone! It’s no wonder that this industry has gained a lot of momentum and by all means attention in the past years. A large number of fictitious companies have been identified in the resale industry. Claims to successfully market or list vacation memberships at a high upfront service fee with no success have been very prevalent in the past years. Under FTC regulations it is highly advised to pay company service fees at closing, after a job well done. We highly encourage this and use licensed professionals to manage any transactions.
Start by making sure you have sufficient time left on the vacation contract you would like to sell. Ideally 20 + years will be a good standing but depending on the resort and resort type that could be up to debate. Then make sure any dues have been paid, resort fees can be sneaky a quick call can clear this up.
Once you know your offer will be widely accepted look into getting a certified broker. Listing companies will usually promise big pay offs at what seems a lower price (always up front). Let’s say that they ended up finding you a buyer, you will then need to find a broker to negotiate, draft docs (if needed), and get you through closing.
It’s best to start out with a broker. You won’t have to worry about upfront service fees and they will take you from start to finish.
Short answer – To keep you from buying from anyone else but the resort, resorts are big business. Long answer – An original member holds a special place in the resorts heart. At the resort sales presentation benefits plans and amenities are hand-picked for each member during the six hour initiation process at which time the sacred “original member/resort” bond is formed. Simply giving these hand-picked benefits and amenities to an unworthy third hand purchaser would be a slight against this sacred bond. We like the second answer - but the first one holds its own!
Normally these costs are split...but everything is negotiable.