How to Buy & Sell a Time Share
A time share is a method by which an apartment or a hotel room is owned by a person for a fixed or flexible period of time. The owner can use the facilities of the establishment during a specified period. The concept began in Europe in the mid-1960s and became a popular way of owning vacation time by splitting the costs of the maintenance of establishments with other owners of time shares.
Other People Are Reading
Instructions
-
-
1
Buy an affordable time share. When a time share is purchased, the purchase money is not the only payment required. There will be annual maintenance fees, management fees and commissions to be paid. Affordability is a major consideration when purchasing a time share. If you are selling a time share, it is important to price the time share realistically. A high price will mean delayed sales and the need to keep paying annual fees for a longer time.
-
2
Investigate the different types of available time shares and buy the most suitable for your purpose. A fixed time share will be for a specific time of the year, a floating time share will have flexible dates and time will be allotted on a first come first serve basis, some time shares are owned while others allow the purchaser to choose from a number of vacation destinations. Before selling a timeshare, check the exact type of timeshare owned by you. Check whether you own the property or have mere right to use the place. Keep all your documents ready to show prospective buyers.
-
-
3
Purchase the time share from developers. Developers build and sell new time shares. Before you purchase time shares from developers check the website of the Real Estate Department of your State and understand the laws to have a better understanding of the type of purchase you plan on making. For sellers, some developers assist in reselling time shares to prospective buyers.
-
4
Buy a time share from an owner of a time share. Many owners sell time shares because of changes in their life, families growing up and many other reasons. These time shares can be purchased at a fraction of the cost of a new time share. For those looking to sell, real estate agents who specialize in time shares will list the time share on their websites to be viewed by prospective buyers who are not looking to buy a new time share.
-
5
Research all the time share purchase options available. Knowledge is power and an informed purchaser will get to negotiate the best deal. Sellers should research their market and find cost effective methods to advertise their time share.
-
1
Tips & Warnings
For both buyers and sellers of time shares, knowing the rules and restrictions governing the time share they plan to buy or sell will make the process smooth. When dealing with an agency, it is important to check the reputation with the Better Business Bureau.
The process of buying and selling time shares should be done with care. There are many time share scams that promise quick sales and unbelievably low costs.
