How to Buy Timeshare Resales
Timeshare resales are much cheaper than purchasing from the resort developer. However, resale timeshare buyers should be very careful when buying them and they need to personally check out those timeshares before investing on them. One should not just rely on what the timeshare resellers say and need to know about the maintenance fees involved and the property taxes of the timeshares.
Similar to purchasing a vehicle, the majority of the timeshares immediately depreciate on the resale market, therefore, it mostly makes little sense for one to buy them directly from the developer especially because lots of timeshare corporations don’t exercise right of first refusal for any resale transactions and so the values do plummet. As much as this is not a good situation for the original buyer, It’s a fantastic one for the buyer.
You can find some timeshares selling at a discount of 25-75% in the resale market and some sure-fire discounted prices that could be as high as 90% from the original developer’s price. There are a wide range of options for buying a resale timeshare. eBay has numerous timeshares on its auction site and it’s one good place that you can pick up bargains but you may also consider your local paper’s real estate section, other websites and timeshare forums where timeshare owners trade with one another.
You should remember that you don’t want to pay an inflated price for the owner’s timeshare’s, so, you need to do a little research first. If you don’t go for eBay, it is worth checking out completed auctions to get an idea of resort costs that you could be interested in buying.
However, if you opt to shop from a timeshare resale website, you need to 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 appears stale and don’t seem to be changing, you should keep off making any offers because you probably won’t get a good price.
Ensure that you negotiate 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 long and is also hoping to avoid the yearly maintenance fee, then you could get a great deal. For this reason, you will probably notice that you get the best deals in November and December, just before the due time for payment of the annual maintenance fee.