A Buying Guide For Timeshare Resale

Looking for a good timeshare to purchase? Are you tired of the time consuming presentations of timeshare companies? I have got a solution for you that is really quite simple. Find the timeshare resort you like the best and then search for pre-owned timeshares that other owners are selling at massive discounted rates. Years ago this would be practically impossible, but this is now a cost effective reality for those of you that are looking into buying a timeshare. Timeshare resales are everywhere these days. You will find timeshare resales in classified ads, auction sites, and even firms that deal exclusively in timeshare resales. The biggest reason anyone would want to buy a timeshare resale would be because the cost of a timeshare resale is can cost 30%-50% LESS than a new timeshare. The largest factor in the pricing of new timeshares is due to the advertising that the timeshare company has spent promoting the timeshare resort. However, there are things that you need to remember when looking into buying a timeshare resale.

The first thing to remember is to NEVER believe the word of mouth from the seller when they tell you that it is in a great location. If at all possible, go see the timeshare yourself or have a family member close by go and visit the property. Owning a timeshare can be a great investment for you as long as you know you are buying the right one for you. Also bear in mind if the timeshare property is in a high demand area and close to grocery stores, restaurants, shopping malls, and other amenities. You might even want to look to see if there are any major attractions nearby. It is also beneficial to buy your timeshare resale in a prime season that will give you more options for exchange later down the road.

Secondly, consider the floor plan of the unit you are buying. Some timeshare properties were previously motels that were converted into a timeshare unit. You will want to look for a well planned and designed unit. Also try and look into the other units and take into consideration at how well they have been maintained. If it is clean and free of dust with no structural damages or squeaking doors, that is a positive sign about the management company because well maintained and well kept units are indicators of good management. This will add value to the unit.

The low cost of a timeshare resale could obscure the underlying cost such as maintenance fees, property taxes and if there was any special assessment for the year. Always ask the timeshare seller if all of these fees have been paid and that the fees are up to date otherwise you will incur these fees once you take ownership. If at all possible buy a timeshare resale unit in a timeshare resort that has a low maintenance fee, as this is a yearly fee that cannot be avoided even if you pay extra money.

If you are purchasing your timeshare resale through a company that is a broker, make sure to not fall into the pit of buying through an unlicensed broker. The timeshare industry is not completely free from the scammers who commit this type of fraud. Always go to a licensed timeshare resale broker because they have more at stake than an unlicensed timeshare resale broker. Also use an escrow account to make the purchase so that when the deal is done and you have received your timeshare, you can release the money from the escrow account.

The most important benchmark of your timeshare resale is of course the price. Always do your homework. Research the prices of other timeshare resales in the area you are looking to make your purchase within. A timeshare should be an investment for you and you should always invest wisely. Always bear in mind that the prices of timeshare resale units can be as low as 30% to 50% of the price of a new unit. Some of the great places to research prices of timeshare resale are through auction sites like eBay or Bidshare.com. If you are using a licensed timeshare resale broker, have them show you a comparitive analysis of prices.

Lastly, remember that the bigger the unit the better the value and chances of exchanging. Most people are likely to buy bigger units because it accomodates large families and even friendly gatherings. Also remember to ask the seller as to why they are selling their timeshare unit. You do not want to find out that the seller is only selling because of problems with management or other issues. This could be vital information as to whether or not you want to buy that particular timeshare unit.