Tips for purchasing Timeshare Resales
Timeshare resales cost less than purchasing from the resort developer. Resale timeshare buyers ought to be very careful when making the purchase and they need to personally check out those timeshares prior to investing any of their money. It’s advisable not to rely only on what the timeshare resellers say, you also need to know about the property taxes and maintenance fees of the 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 come across timeshares being sold at a 25-75% discount in the resale market and even 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 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.
One thing you should have in mind is that you don’t want to be paying for the owner’s inflated timeshare’s value, so, you need to first do some research. 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 decide to shop from a timeshare resale website, you should 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 care if they will be able to sell the property because they have already made their money from the upfront fees made by 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.
Be sure to negotiate after you decide to buy the timeshares. Besides eBay, you will realize that purchasing a timeshare is almost similar to buying a house. The asking price is actually negotiable. In case the owner has been attempting to sell them for some time, and the owner is hoping to avoid the yearly maintenance fee, then you could land 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.