A timeshare can be a great way to guarantee fabulous vacations each year, offering you the chance to enjoy a vacation home without the full cost and hassle of ownership. However, circumstances change, and you may find yourself needing to sell your timeshare. If you own a Westin Ka’anapali Ocean Resort Villas timeshare in beautiful Maui, Hawaii, you might be wondering how to go about selling it. This definitive guide will provide you with the necessary steps to effectively sell your Westin Kaanapali timeshare.
Understand Your Ownership
The first step in selling your timeshare is understanding what you own. Timeshares at the Westin Ka’anapali Ocean Resort Villas are typically sold as either fixed or floating week timeshares. With a fixed week, you have the ability to use the same week every year. A floating week allows you to choose your week within a specific season.
Furthermore, Westin timeshares are part of the Vistana Signature Network, meaning that you also have StarOptions points that can be used for stays at other resorts in the network. Understanding these details will help you accurately present your timeshare to potential buyers.
To gather this information, you might already have several documents at your disposal. These documents include:
If you’re having trouble accessing these documents, you usually can contact Vistana directly to request a copy of them. Once you have these documents, you can use them to find the following ownership details that will be of paramount importance to selling the timeshare:
- Deeded Names: The exact spelling of your deeded name, as well as if the property is co-owned, or possibly held within a trust
- Resort Phase: Westin Ka’anapali timeshares are offered in both the North and South phases of the resort
- Annual StarOptions: How many StarOptions your week or Vacation ownership interest awards you each year
- Banked StarOptions: How many unused StarOptions are saved, or banked
- Villa Type: The room size and type you are deeded to
- Season: All Westin Ka’anapali timeshares are Platinum Plus season
- View: The view type that you are deeded to
- Usage: If you have annual usage or if you have biennial usage (every-other-year-usage) whether its odd year or even year usage
- Maintenance Fees & Taxes: Your annual maintenance fees & tax charges
Understanding Your Deeded Villa Type
One the of great features of Westin Ka’anapali timeshares is that there is a variety of villa types and sizes to choose from, but it is important to determine the villa type you are deeded to in order to accurately represent the property on the resale market.
If you’d like to explore all available room sizes, features & more for each villa type offered at both Westin Ka’anapali Ocean Resort Villas for both North & South phases, you can read our article here: Westin Ka’anapali Ocean Resort Villas: Villa Types, Sizes, & Features.
Understanding What Benefits Transfer On The Resale Market
Some Vistana Signature Network (VSN) resorts will lose the ability to utilize StarOptions to book other VSN resorts when transferred on the resale market. One of the benefits of owning a Westin Ka’anapali timeshare is that it is classified as a mandatory resort, which means you can offer the use of StarOptions to your buyer on the resale market.
Resorts classified as mandatory necessitate every owner’s participation in the Vistana Signature Network (VSN). If a buyer purchases a resale at a mandatory resort, they will retain the ability to use StarOption points for reservations at other resorts within VSN. This provides the flexibility to travel to any Vistana resort, provided there is available accommodation and the owner has an adequate number of StarOptions to secure the booking.
Determine A Fair Market Value
The resale value of Vistana timeshares often tends to be significantly less than the price quoted at presentations or when purchased directly from Vistana. Thankfully, Westin Ka’anapali timeshares do retain their value more-so than many other resorts, but owners do need to research the current fair market value of their ownership on the resale market. To gauge the resale value of your ownership, you can begin by comparing prices of similar listings available online. However, it’s crucial to remember that these are listed prices and may not necessarily reflect the final sale price.
When trying to find the value of your timeshare on the resale market, the main factors that determine the fair market value are:
- Deeded home resort
- Size of deeded unit
- Deeded season
- Deeded view (if applicable)
- Annual allotment of StarOptions
- Number of banked StarOptions (if any)
As a newcomer to the timeshare resale market, it’s recommended to consult with a Licensed Real Estate Broker who is an expert in timeshares from your specific developer. The insights and experience of such a broker can be invaluable in understanding the current selling price of similar timeshares and guiding you through the selling process.
Any reputable broker will provide a free, no-obligation consultation that can save you substantial research time, so be sure to take advantage of any free resources that help you gain the knowledge you need to successfully sell your Westin Ka’anapali timeshare.
How To Sell Your Westin Ka’anapali Timeshare: Exploring Your Options
Selling Your Timeshare On Your Own
If you’re considering selling your timeshare independently, it’s essential to start by researching the current Vistana resale market value of your property. You can find this information on platforms like ours, eBay, or Craigslist. However, remember that it’s crucial to conduct thorough research to ensure a safe transaction.
The process of selling a timeshare yourself involves advertising personal details, handling inquiries, and successfully transferring ownership to the buyer.
Even if you opt for self-marketing, we highly recommend listing your timeshare for free with no upfront fees through a reliable broker. This approach can only enhance your chances of selling by giving you access to multiple potential buyers.
Using A Timeshare Broker To List Your Vistana Timeshare
Many sellers opt to use a Licensed Broker due to their knowledge and expertise in the timeshare resale market. This expertise proves extremely beneficial in correctly pricing your timeshare, negotiating offers, and effectively handling the closing process. Make sure you choose a licensed and accredited business that provides a free listing for selling timeshares and doesn’t charge any upfront fees. Like any traditional Real Estate agent, your broker should manage all aspects of the resale process and only be paid once your ownership has been sold.
In this digital age, Timeshare Brokers are harnessing the immense potential of digital marketing, search engine optimization, and cost-per-click ads to sell your Westin Ka’anapali ownership. So why not leverage their marketing budget when it poses no risk to you?
Timeshare Exit Companies & Paid Listings
When considering timeshare exit companies or solutions, or those that demand a fee just for listing your timeshare, proceed with caution. These companies often require upfront fees, transfer costs, and marketing expenses to facilitate your timeshare exit.
However, Westin timeshare resales are typically not suitable for this approach due to their substantial value in the resale market, making them attractive to a wide range of potential buyers. It’s important to note that the timeshare exit industry is fraught with fraudulent schemes, so it’s crucial to stay vigilant.
Listing Your Westin Timeshare For Sale
The process of listing Westin resales is quite simple. By completing a form on our website, you can gain access to a complimentary timeshare market analysis and free listing. After you’ve filled out this form, an agent will be assigned to you who can guide you through the procedure of selling your Westin Kaanapali timeshare.
Be Patient & Negotiate
Selling a timeshare can take time. Be patient and prepared to negotiate. Potential buyers may make offers below your asking price, and your broker can help advise you regarding the best course of action. It’s important to get a fair price, so knowing the current market value of your property while being flexible can help close the deal and ensure all parties are treated fairly.
Once you’ve listed your timeshare and a prospective buyer shows interest in making an offer, there are certain pieces of information you’ll need to ascertain to fully comprehend the terms of the proposal:
- Offered price
- Amount of any seller-paid closing costs
- Commission costs
- Projected closing date
- Name of 3rd party closing company
- Broker’s opinion if offered price will pass Right of First Refusal
Vistana’s Right of First Refusal
Right of First Refusal (ROFR) is a contractual clause that is built-in to some Vistana ownerships which states that Vistna may have the option to purchase a property back from their timeshare owners, before allowing the owner the ability to sell to a third party on the resale market.
If you’d like to get a more in-depth introduction to how right of first refusal works with Vistana timeshares, you can read our article on the subject here: Vistana Right Of First Refusal: Westin & Sheraton Resale.
Closing The Sale
Once you’ve found a buyer, it’s time to close the sale. This involves transferring the title and StarOptions points to the new owner. It’s highly recommended to use a licensed escrow company to ensure a smooth and secure transaction.
The transfer of any timeshare should be handled much like a real estate sale. It’s typical for a third-party closing company to secure the buyer’s funds in an escrow account and supervise the transaction, ensuring both parties fulfill their obligations as per the purchase agreement contract.
The closing company will also collaborate with Vistana to confirm the timeshare is completely transitioned from the seller’s to the buyer’s name.
Closing costs can fluctuate depending on the escrow and title services offered, the type of title or liability coverage provided, your state, and the selling price of the timeshare. You should consult your agent when reviewing offers to explain the exact closing costs specified in the purchase agreement.
Once your Westin Kaanapali timeshare has been fully transferred to the buyer, the closing company will forward the sale proceeds to you, typically via check.
Contact Us For More Information
Selling a Westin Ka’anapali timeshare doesn’t have to be a daunting task. By understanding your ownership, determining a fair price, avoiding upfront fees, and being patient and willing to negotiate, you can successfully navigate the selling process.
As always, seeking more information for such a large transaction is a wise choice. Fill out the form on our Contact Us page if you have general questions, or visit our listing agreement page and fill out the form there to get started right away.
