|How do I find the best
Timeshare Resale Prices?
This article will describe Timeshare Resales from the point of view of a potential Timeshare Buyer!
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How do I find the Best Timeshare Resale Prices?
This article will apply to both buyers and sellers of Timeshares, as the information included will be important for both sides. This however will not be a "How to sell your Timeshare" article as that has already been written and contains the information relevent to sellers, so this is intended to assist someone looking to buy a Timeshare.
I want to Buy a Timeshare, where do I look?
Fabulous! The fact that you are doing your research BEFORE buying your first timeshare means you are well ahead of the curve! Fact is (for reasons I dont care to go into in this article) that if you ask 100 potential buyers, I would guess than more than 90% have no idea you can buy a Timeshare anywhere other than from the resort itself! This could not be further from the truth!!!
Fact is, there are thousands of existing Timeshare owners all currently looking to sell their Timeshare intervals, far more so than people like yourself looking to buy a Timeshare! What does this mean?
ITS A BUYERS MARKET!
While "resales" have always existed in the Timeshare Industry, it is not something that has ever been promoted (or in many cases even acknowledged) by the industry itself. The reasons behind this are very simple. Resorts couldn't possibly charge what they do for their Retail Timeshares, if everyone knew you could buy Timeshares for pennies on the dollar from existing owners already!
Its a given that anyone can make a choice between a new or pre-owned vehicle, but the vast majority of potential Timeshare Buyers have no idea you can buy from an existing owner, and save up to 99% in many cases!
Wait, did you say I can save 99%, sounds like a Scam!
Not at all, although it does sound too good to be true, and in some cases it is! The fact is some timeshares have reached such a high cost of annual maintenance fees, and have so many of its owners looking to sell, that you will find these Timeshares being GIVEN AWAY FREE by the owners. They simply just want out and would be happy to have someone take over paying the annual fees for them!
Note this is not to say all timeshares can be purchased for next to nothing, but in nearly ALL cases, the resale price of a Timeshare is anywhere from 50 to 99% less than what it was purchased for from the developer! This means a savings to you as a buyer, of THOUSANDS of dollars, for the EXACT SAME PROPERTY someone bought at the resort.
Get to the point, where do I find
these amazing deals?
Note: Ebay is also the home of many huge timeshare resellers that list a very large number of units they obtain through various methods. It is not uncommon for these ads to contain errors, so you MUST be sure to verify what you are buying before you finalize the purchase!
How do I know these are Legit deals?
Fabulous question, and there are a number of separate articles in the TUG Advice section that discuss things to look for when purchasing a Timeshare to make sure its what you want! Please remember, just because its being given away for next to nothing does NOT make it a bargain! It is up to you as a buyer to do your research and ensure that the amazing deal you are contemplating is right for you! Read up on the advice articles that apply to resales, ask questions on the TUGBBS forums from existing owners to find out if there is a good reason folks are anxious to get rid of their timeshare at such a low price!
Is buying a resale Timeshare as simple as paying and I own it?
Sadly no, and this is one of the downsides to purchasing a Timeshare (although it applies to both resale and retail). All Timeshares are considered Real Estate, and thus the closing process for them can be long and expensive! As mentioned above, before making a commitment on any Timeshare, you must determine how much the closing costs are going to be, are there any additional fees that need to be paid to transfer the ownership, are there any outstanding fees the need to be paid (maint fees, special assessments, property taxes).
One big tip I always suggest is for you to choose your OWN closing company. Many of the larger Timeshare Resellers will try to insist on you to use their closing company/services, and many cases this can cost significantly more than it should! Remember, this is a buyers market and the fact that you are an interested party means you hold all the cards! Its not uncommon nowadays for sellers to even pay all of the closing costs just to get rid of their unit. This of course is all negotiable like all transactions, but you certainly want to make sure of all of the individual parts of the deal before you make any sort of commitment!
Note: There are so many amazing deals out there, you do not have to jump at the first deal you see, if you wait and do your research, you will end up with exactly what you want, and be amazed at how little you paid!
We hope this article helps you maximize your vacation dollar, and gets you to Rent a Timeshare from a TUGGER!
Feel free to stop by our Timeshare Community Forums if you want to ask specific questions, with more than 60,000 other Timeshare owners and experts, no question goes unanswered!
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