How to Buy Timeshare Resales
Timeshare resales cost less than purchasing from the resort developer. However, resale timeshare buyers need to be cautious when buying them and should personally check out the timeshares before investing on them. They should not just rely on what the timeshare resellers say and one should be aware of the maintenance fees involved as well as the property taxes of those timeshares.
Just like purchasing a vehicle, majority of the timeshares immediately depreciate on the resale market, so, it mostly makes little sense buying them directly from the developer especially since many timeshare corporations don’t exercise right of first refusal for any resale transactions and so the values keep plummeting. Although that isn’t a good thing for the original buyer, It’s a great one for the buyer.
You may often find timeshares being sold at a 25-75% discount out in the resale market and there could be some sure-fire discounted prices as high as 90% from the original developer’s price. You’ve got a wide range of alternatives for purchasing a resale timeshare. eBay contains numerous timeshares on their own auction site and it’s one good place one can pick up bargains but you may also opt for your local paper’s real estate section, various website as well as some timeshare forums where timeshare owners purchase and/or trade with one another.
Something that you should have in mind is that you don’t wish to be paying for the owner’s inflated sense of their timeshare’s value, therefore, you should first do some research. In the event that you decide not to use eBay, it is worth checking out completed auctions so as to get a clue of resort prices that you could be interested in buying.
However, if you decide to shop from a timeshare resale website, you should find out if they make sales. Plenty of timeshare owners usually hand them over to what they call “postcard companies”. Such companies charge an upfront fee and then they post it on their website at very unrealistic asking prices. They don’t care if they can’t sell the property because they have already made their money from the fees they charged the owners. If a website’s listing looks stale and doesn’t seem to change, do not bother to make an offer because you probably won’t get the best deal.
Make a point of negotiating before buying the timeshares. Besides eBay, you will notice that purchasing a timeshare is just like buying a house. The asking price is subject to negotiation. If the owner has been attempting to sell them for some time and is also want to avoid paying the annual maintenance fee, then you could get a very good deal. Due to this reason, you mostly tend to get the best deals in November and December, just before the due time for paying the annual maintenance fee.