Surprisingly, timeshare resale is still a relatively new concept in the vacation ownership industry. Since timeshare was designed to be a lifelong product that owners could even pass down to their children, the emergence of the resale market has been a slow and steady process. Today, the resale market is thriving and is a great way to buy a timeshare without breaking the bank.
About the Resale Market
With most products, there’s retail and resale. It’s common for us to buy something one day and absolutely love it, but the next day it might not fit our lifestyle any longer. When timeshare had its beginnings, owners loved having their annual vacations at the same time and place. It was a great way for the extended family to get together, or plan out those quality family vacations.
Timeshares are also known for having annual fees and dues. Although you might have paid for your share up-front, every owner is required to pay annual timeshare maintenance fees. Or maybe you just don’t use your share anymore, and so you’d sell it to someone else to use. For these reasons and more, the timeshare resale market was born.
Before ARDA became the regulating force for the industry, however, there were some bad apples out there. Timeshare sales representatives for smaller resorts would lead buyers to believe that their timeshare was an “investment.” As we know now, that’s not the case.
While owning a timeshare is like owning real estate (yes, you do own a piece of your timeshare), a timeshare does not appreciate in value as real estate does. It can drastically go down in value like a brand-new car when you drive it off the lot.
Step-by-Step: How to Buy a Timeshare
A Complete List of Timeshare Resale Scams
Before you decide to buy a timeshare or place one for sale, make sure you’re aware of what’s going on in the industry. There are some tricksters out there that take advantage of owners every day. Lucky for you, we keep up with the news and timeshare resale scams you should be aware of. One type of scam that’s especially important to watch out for is timeshare cancellation. This concept is usually brought up by timeshare exit companies who claim they can “cancel” your timeshare. In reality, these companies are usually made up of lawyers who will try to find a loophole in your contract. This strategy rarely succeeds. Like most other contracts, you can’t just cancel a timeshare.
Are Timeshare Resales Worth It?
If you’re passionate about vacations but aren’t too sure about vacation ownership, there are ways to test the waters. Before diving in headfirst with a timeshare straight from Club Wyndham or Marriott Vacation Club, you can rent one first. As a legitimate timeshare resale company, credited with the BBB and ARDA members, we have a selection of timeshares for rent by owner.
You can also save a ton of money by buying a timeshare resale. With savings of upwards of thousands of dollars, that makes timeshare resales worth it just right there. Many of the same benefits transfer to a resale owner, like vacation exchange.
How to Buy Shares Off of the Resale Market
If you’re interested in buying a timeshare resale, make sure you go about it the right way. Using a credible resale company that is an ARDA member and credited by the BBB will help you avoid any pitfalls. Learning how to buy a timeshare can be easy with the right help.
Using our online resort marketplace, you can search and filter timeshares posted for sale by brand, destination, season, and more. When you have an idea of what you’re looking for, it’s as simple as making an offer online. Or if you prefer, you can call one of our representatives at 1-800-610-2734.
How to Sell Your Timeshare
If you’re interested in placing your timeshare for sale, the steps are fairly simple. By calling one of TSO’s trusted representatives, we can gather the details of what you own to create an eye-catching advertisement. Using sophisticated marketing technology and having a trustworthy presence will help put the right buyer on your timeshare for sale.
After a buyer places an offer on your timeshare, our preferred broker Fidelity Real Estate will offer their services to help facilitate the sale. As licensed real estate agents, Fidelity will assist with negotiations, writing contracts, navigating the Right of First Refusal, and more.