Frequently Asked Questions About Selling a 47 Park Street Timeshare
Read through the following seller FAQs to learn more about the selling process for your 47 Park Street Ownership.
What is my 47 Park Street timeshare worth?
It is often difficult to price a timeshare unit due to the many variables of timeshare ownership such as week numbers, bedroom size, maintenance fees, etc. Our Marriott Grand Residences specialists are trained to provide you with a competitive range of resale values, based on these variables. Due to their scarcity on the resale market, 47 Park Street timeshares tend to retain their value well.
Will all of my ownership rights transfer to the next buyer?
All ownership rights included in the deed for your 47 Park Street apartment will be transferred to your buyer at the point of sale. Certain bonus amenities, such as extra weeks or free rounds of golf, remain in your name and do not transfer.
What do I need to know before I can advertise online?
To speed and smooth the resale process, have all of your ownership documentation and financing details on hand prior to contacting us. This way our 47 Park Street specialists can provide you with the most accurate advice and assistance as possible. If you are unsure of your ownership details, our specialists can help you locate this information, simply contact us to get started.
Why can’t I just sell my timeshare back to the developer for the original amount?
A large part of the retail price paid to the developer is used to cover the salesperson’s commission. In addition, high pressure sales tactics (such as free giveaways) tend to inflate the price you pay far above what the unit itself is worth. For this reason, the resort will rarely purchase the unit back from you at the original price.
How long does the resale process take for 47 Park Street properties?
The timeshare resale market, like other real estate markets, is subject to fluctuations. This means that sometimes your apartment may sell more quickly or more slowly. However, given the extreme popularity and scarcity of 47 Park Street properties, as long as you price within the market average, you should be able to sell in a reasonable time frame.
What is the Right of First Refusal (ROFR)?
The Right of First Refusal (ROFR) is a clause in the purchase agreement you signed with the developer. It states that the company that sold you the timeshare (such as Marriott) has the right to purchase it back from you once a resale agreement has been reached with a third party buyer. As an owner, you receive the same purchase price that had been agreed, only the resort is paying you, not the buyer.