Westgate is the largest privately owned timeshare company in the world. It offers 28 resorts around US, which translates into a large number of timeshare ownership. Every year, thousands of Westgate timeshares change hands. If you are a Westgate timeshare owner in need of getting out of your timeshare contract, below are some options for you.
Sell Your Timeshare
Unfortunately, the value of a Westgate timeshare does depreciate quickly. Even if you are able to sell it, you won’t receive anything near what you paid for. Westgate Resorts does not have a buy back program. You’ll have to find a buyer yourself. However, Westgate has Right of First Refusal (ROFR or RFR), which means it has the first right to purchase your unit back should you find a suitable buyer. You need to notify Westgate Resorts at (407) 355-1000 ext. 51089 and obtain a waiver, if you are selling your Westgate timeshare to a potential buyer. Westgate then reserves the option to actually buy your timeshare back from you at exactly the same price that you and the buyer agreed on. As a seller, this may benefit you. A bidding war between the buyer and Westgate may push up the final sale price.
Depending on popularity of your timeshare, you can find buyers via a licensed timeshare broker or via timeshare for sale sites such as Redweek, TUG, Craigslist or our own Timeshare For Sale section. More information can be found in our How to Sell Your Timeshare post. The top 5 popular Westgate timeshares are: Westgate Vacation Villas, Westgate Town Center, Westgate Lakes Resort and Spa, Westgate Towers, and Westgate Blue Tree Resort. All are located in Orlando, Florida.
Give Away Your Timeshare
If you can’t find a willingly buyer for your timeshare, you may try giving it away. For timeshares that are not in demand, even giving them away won’t be easy.
If your account is up to date on the maintenance and taxes and the mortgage has been paid in full, you can contact Westgate Resorts Developer Services at 407-355-100 ext. 53317. This department is in charge of their Deed Back program. Yes, you will voluntarily give title back to the resort. Your money is gone. On the bright side, you no longer need to worry about the annual fees.
If you are behind on your fees or loan payment, you can ask for WDIL or Warranty Deed In Lieu of Foreclosure from Westgate. This is not easy. You may have to put on a fight to get it. A Deed In Lieu of Foreclosure does negatively impact your credit score, just not as badly as a foreclosure.
In all circumstances, do not pay any person or company up front fees to get rid of your timeshare.