Resale timeshares are timeshare properties which are resold by their original owners. For people interested in timeshare ownership, buying a resale can be an excellent way to get a savings on the cost of a timeshare property. However, the process can take a long time and the specifics of the transaction need to be handled by specialists who are familiar with working with timeshare properties. People who have a preferred real estate agent may be able to get a referral through their agent for an agent who handles timeshare transactions.
With a timeshare, people buy a share in the ownership of a property which entitles them to spend a set period of time there each year. There are many different ways to organize timeshares. Some have a fixed time schedule, others allow people to use flexible scheduling, and many allow people to rent or trade their shares if they are not going to use them or they don't want to use them. In addition to paying for the timeshare itself, people also usually need to pay fees for upkeep.
In the case of resale timeshares, a stake in a timeshare is offered for sale by the original owner, instead of the developer of the property. Some people list their resale timeshares themselves, and there are a number of publications that have classifieds for resale timeshares along with general information about timeshare sales. Once people find a buyer, they may need to find a lawyer to handle the specifics of the transaction to ensure that it goes smoothly.
Timeshare resales can also be handled by a professional agent, who will take a cut of the purchase price in exchange for handling the sale. This can be more convenient for people who do not want to deal with the administration of the sale. However, agents may charge whether or not the timeshare sells, which is something to be aware of when considering the use of an agent to handle a timeshare resale. Sometimes it can be very hard to tell a timeshare, and it may sit for months or years on the market without attracting attention from buyers.
Resale timeshares tend to sell for less than their purchase price. Unlike other real estate, timeshares do not appreciate in value, unless they are in a hot market with a lot of competition among buyers. Depending on the economic climate at the time of the sale, the location of the timeshare, and the condition, timeshare sales can fetch as little as 50% of their original price. People should keep this in mind when making a purchase, considering whether or not they will really use the timeshare, and if the price is worth it for them.
