Marquis Villas Resort

How do I make my vacation home a timeshare?

If I own a home out right, worth about $750,000. What do I do if I want to make it into a timeshare? Who receives the money that the timeshare holders pay? Do I loose all interest in the home if I do this? I can't find anything online that will give me any helpful answers. Can anyone enlighten me?

Public Comments

1. Well, First of all you have to asses where is your vacation home located at and if it has any demand from people on vacation just to find out if it's worth to sell it like that (this will cost you money). Then you have to go trough what ever license you need to operate or be able to sell the weeks(more money), I am talking county license and maybe ARDA license (American Resort Development Association). The basic concept is that you divide your house in 52 weeks, you sell 50 and leave 2 for maintenance. The price of the weeks has to be divided according to the demand of the season (high demand weeks cost more). The maintenance fee is equal for all the weeks. After you figure all that, then you have to HIRE some hardcore sales team to market it and sell it (and pay super money). Usually this will cost you around 40% of the Price of the week. At this point after everything I explained to you (witch it is just the tip of the iceberg). In order for you to just make your $750,000 you will have to sell some of the weeks at prices over $30,000 USD. Here is my question back to you: Do you think a week a year in your house is worth that much?
2. What the person said before me is half right. You need to go to the town where your home is located and first get the deed of your home changed into 52 week deeds. This is only possible if the town where your home is located allows this. If your house is in a community that has association fees then you might face another hurdle in getting their permission to allow you to have this kind of rental for sale property. Most associations won't allow it. Once you have your deed broken up you you are then able to sell it you don't need a license to sell by owner. You don't need an ARDA License. So now your ready to sell and just need a way to market your timeshare to people who might be interested. Check out http://www.sellatimeshare.com I sold my timeshare with them awhile back great people to deal with. You might be better off hiring a property manager and renting your property weekly for rent. You could probably get a good amount of money for your property and just have the property manager deal with the clean up and maintenance. Good luck