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!!!
IT IS A BUYERS MARKET!
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?
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 with hundreds if not thousands of active resale ads being offered completely free!
Can I really buy a Timeshare for 99% off?
Absolutely! 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 75 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.
Editors note: Some Timeshare developers place restrictions on resale purchases while others do not, it is important to research any potential Timeshare purchase to know exactly what you are buying, even if being offered to you for free!
Get to the point, where do I find these amazing deals?
One of the of the best places to search for amazing Timeshare Resales is right here on TUG. The TUG Timeshare Marketplace has Thousands of Timeshare rentals at any given time! Other frequently mentioned resale rental websites are located here in this article for reference!: Frequently Mentioned Timeshare Resale Sites
One tip that many Tuggers will insist on is for you to visit the Bargain Deals forum on the TUGBBS! This forum contains ONLY Timeshare resales that owners are looking to give away!
One of the largest places for bargain Timeshares has now become Ebay! Dont believe they sell for that cheap, log into your Ebay account and check the completed listings for the Timeshares category and be amazed at how many sell for pennies on the dollar!
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!
The Final Word on finding the best Timeshare resale prices!
There are so many amazing deals out there, you do not have to jump at the first deal you see even if it looks like an amazing offer! If you wait and do your research, you will end up with exactly what you want, and be amazed at how little you paid and you can utilize those incredible savings (average of around $18,000 dollars) to put towards years of future family vacations!
If you have more questions or want to search topics, be sure to register on our Timeshare Online Discussion Forums where tens of thousands of Owners and Experts ask and answer all Timeshare related questions! Registration and participation on the forums is 100% free! Timeshare Buying Forum!
Sign up for our Free Owner Newsletter
The TUG newsletter contains the most recent topics being discussed (or argued) by owners, as well as the most recent Timeshare reviews, Free Exchange ads, Last minute Timeshare rentals, and latest industry news!
With more than 50,000 subscribing Timeshare owners, it is the best way to keep up with topics and information important to owners and is completely free! Sign up today!