Selling my deeded unit in same year I have a reservation

I have a Maui Ocean Club, Oceanfront unit, deeded property. I want to move forward to sell my week now, but have a confirmed reservation for the week of Christmas this year. Can I sell the unit with first usage in 2024 and still use my week (or rent it out) even though it will have already been sold?

ronm148 wrote:

I have a Maui Ocean Club, Oceanfront unit, deeded property. I want to move forward to sell my week now, but have a confirmed reservation for the week of Christmas this year. Can I sell the unit with first usage in 2024 and still use my week (or rent it out) even though it will have already been sold?

Sure, it can be done, but your buyer must overtly agree to that specific contingency within a mutually signed contract agreement formally executed as part of the sale. Otherwise, absent any such formal agreement, you would become legally and permanently out of the picture the moment a new deed got officially recorded. A cautious (and smart) buyer might be inclined to reject the “rental” option you mention, if s/he was concerned about potentially ending up on the hook for damages caused by someone unknown to the buyer and provided only by you; someone who the buyer had absolutely no knowledge of (nor likely any intentions of ever allowing) to occupy the week that buyer presumably now owns. If I was your buyer, that "rental option" would be a non-starter for me if it was to occur "post-closing".

Anyway, your plan may be achievable, but only if very clearly spelled out and mutually agreed to in writing and under signature acceptance, or written up so that the first usage for the buyer (AND the buyer’s first responsibility for paying any maintenance fees) does not even take effect until CY 2024. Even then, the buyer may be reluctant.Think of it from the buyer perspective --- If YOU were buying and paying for something today, would YOU accept the seller saying "Thanks for buying it and paying for it now, but I'd still like to keep it for another year before you can use it. Would that be o.k. with you?". I know what MY answer would likely be....

Absolutely you can do this and it simply needs to be written into the contract by your broker. We do this all the time for our clients and it doesn't create any concern for our buyers. Lots of sellers want that "last" vacation before they sell. Happy to help you, if needed. Good luck!