Tips for purchasing 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.
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 that isn’t good for the original buyer, It’s a great 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 opt for eBay, it is worth checking out completed auctions to get a clue of resort costs that you could be interested in purchasing.
Moreover, if you choose to shop from the website of timeshare resale, you need to find out if they make sales. A lot of timeshare owners tend to hand them over to what is referred to as “postcard companies”. These companies charge them an upfront fee and then post it on their website at high asking prices. They don’t even care if they will be able to sell the property since they have already made their money by collecting those upfront fees from the owners. If the listings of a website appear stale and do not seem to be changing, it is ideal to keep off making offer since you probably won’t receive the very best 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 can be negotiated. 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. 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.