If you’re looking to buy or sell a timeshare, you’re probably doing as much research as possible to really understand the process. You may have even come across the possibility of buying or selling a timeshare on eBay. While the low prices on e-commerce sites may entice you, you should definitely proceed with caution before buying a timeshare on a site like this. Likewise, with selling a timeshare on eBay, it may seem easier to list it yourself without getting anyone else involved. Sure, this may eliminate the “middle man,” but it also puts you at risk of getting scammed! Before you buy or sell timeshares on eBay, here is what you should know.
Buying A Timeshare On eBay—Things to Consider
One of the biggest factors that come into play when deciding which timeshare to buy is the price! Of course, buying directly from the timeshare brand is going to be the most expensive option. This is why timeshare resale is such a great option! Owners who are looking to sell their timeshare sell them for much less than what the resort would sell them for. This is why timeshare is not considered an investment, as the value of the ownership decreases over time. Sometimes when people are desperate to sell their timeshare, they will go to sites such as eBay to sell them for pennies on the dollar. While this low price might seem tempting to someone who is looking to buy, there are some things to keep in mind before committing to purchasing a timeshare on eBay.
1. Are Timeshares On eBay Legitimate?
Unfortunately, there is no way to know for certain if the timeshare that you’re looking to buy on eBay even exists. Since you are buying directly from the owner, there is no way to confirm if the listing is legitimate. Sometimes fraudulent sellers will use eBay to scam timeshare resale buyers into paying for something that isn’t real. This is one of the biggest risks you take when buying a timeshare this way. If you are seriously considering buying a timeshare this way, you can ask the seller to go through a trusted escrow company or even work with the developer to confirm the legitimacy of the listing. This can help avoid being scammed and will give you some confidence in proceeding with the purchase.
2. You Have To Go Through The Entire Closing Process On Your Own
When you buy a timeshare directly from the owner, there are many steps that you will have to take responsibility for along the way. As with the purchase of any timeshare resale, buyers will have to go through the closing process when buying a timeshare on eBay. The downside is that you will have to find reliable services, such as title companies, all on your own. When you work with a trusted timeshare resale marketplace, they are able to suggest established title companies that will make the closing process simple. Having to find all of these resources on your own may add an unnecessary layer of stress when buying a timeshare.
3. There Is No Expert To Guide You Along
Buying a timeshare can be overwhelming and sometimes confusing! This is why timeshare resale companies exist. Having a resale expert by your side along the way can help you navigate the process of buying a timeshare with ease. When you buy a timeshare off of eBay, you don’t have that expertise by your side. All of the research and negotiation is solely your responsibility, which can definitely be challenging.
4. Do Your Research!
Developers often have restrictions on timeshare resales, which can sometimes make buying a timeshare more complicated. Resale experts at trusted companies will know the ins and outs of all of these restrictions. Unfortunately, when buying a timeshare on eBay, you will have to find out all of this information on your own. These restrictions may affect how you use your timeshare, so it’s extremely important to do thorough research before you buy. This research will definitely make the buying process much longer and maybe even more confusing.
Selling A Timeshare On eBay
If you would do anything to just get rid of your timeshare, then selling it on eBay may seem like the easiest option for you. Why not just list it yourself and get it over with? Well, there are certain risks that you need to be aware of before you decide. While this method has become quite popular, selling your timeshare on eBay can make things more difficult for you.
1. Fees and Policies For Selling A Timeshare On eBay
As with any e-commerce site, there are tons of policies when it comes to selling on eBay. There are certain regulations that sellers have to adhere to and these rules may make selling your timeshare more complicated. There are fees that need to be paid to sell your timeshare on eBay, so it might not even be the cheapest option. Fees such as listing fees, third-party payment fees, transfer fees, and more. Also, unlike selling a timeshare with a resale company, there is no way for your listing to be promoted. It may be difficult to get buyers to even see your listing!
2. Is It A Financial Risk?
When using sites such as eBay, there is always the risk that the person trying to buy your item is actually a scammer. There are ways in which people can dispute the sale and get all of their money back, leaving you with your timeshare. There is little to no protection for sellers on eBay, so there is a chance that what you thought was a confirmed sale can quickly go south.
3. Think Of The Alternatives
Before you make the choice to sell your timeshare on eBay, you should research alternate methods. Oftentimes, the timeshare company can either buy back your timeshare or suggest trusted resale companies to work with. Another alternative to selling is renting out your timeshare. This is great if you aren’t confident that you actually want to get rid of your timeshare but just want a break or can’t use it for a year. Some people are even able to cover the costs of their maintenance fees with the money they earn from renting out their timeshare.
4. Are There Restrictions To Selling Your Timeshare On eBay?
As we mentioned before, timeshare companies often place restrictions on resales. This might be an issue if you are looking to sell your timeshare on eBay. Many companies have a right of first refusal, known more commonly as ROFR, which means that they have the right to buy back any timeshare. We’d suggest first speaking to your timeshare developer about their restrictions before putting your timeshare up for sale on eBay.
Buy And Sell Timeshares With A Trusted Marketplace
If you’re reconsidering buying or selling a timeshare on eBay and would rather work with a trusted resale company, Timeshares Only is here to help! We can walk you through the process of buying or selling a timeshare. Timeshares Only is a Member of ARDA, with an A+ Rating on the BBB as an Accredited Business. Browse timeshares for sale now and make an offer at top resorts or brands. If you’re looking to find out how to sell your timeshare, we can certainly show you the way.
If you’re ready for an expert to reach out now, simply fill out the form below and a representative will contact you as soon as possible. Or call us at 1-800-213-7733 Monday – Friday from 9 AM – 9 PM EST.