How to Buy a Timeshare on the Resale Market

Smart timeshare investors know that the best way to buy timeshares is through private sales by owner, rather than straight from the developer. Though the resort price can be high, timeshares depreciate rapidly, and owners sell them for far less than what they originally paid.

If you like to stay in timeshare condos during your vacations, but don't want to sit through a timeshare presentation or make exorbitant payments, here's how you can buy a cheap property on the resale market.

Instructions

1. The first place to check for listings is eBay, where you can make bids and set a cap on how much you are willing to pay for a timeshare. eBay is quickly becoming the number one market place for timeshares for sale by owner, so you can browse thousands of listings.

2. Many people who are selling their timeshares may not be able to post on eBay because their accounts were closed. So, make sure to check out other for sale by owner sites as well. A search using the keywords " sell timeshare by owner," or "timeshare resale" will yield hundreds of hits.

3. Make a list of all the timeshare properties you like. Don't discard timeshares that are priced to high, you can bargain down very easily. The resale market for timeshares is a buyer's market.

4. After you have a list, contact the owners or the middlemen brokers. Ask about specifics that weren't addressed in the ad, such as maintenance fees and taxes.

5. Next, make an appraisal of the timeshare and make your offer based on that figure. Buying and selling timeshares is not like buying and selling a home, where the buyer usually pays for the appraisal. Because the market is flooded with timeshares for sale by owner, you can often get the owner to pay for the appraisal.

6. You should compare the appraisal price to the developer's price. If the resale value is not at least 30% less than the price of buying directly from the resort, then the appraisal is not accurate.

7. Always be wary of scam brokers who ask for an upfront fee, or even ask you to attend a "tour" of some sort. We all know what those are!