Tips on Buying and Selling a Timeshare

By Thomas Zenovic

Introduction

A resident of New York, certified financial planner Thomas Zenovic possesses knowledge on a number of money matters. One aspect of Thomas Zenovic’s background is assisting individuals looking to buy or sell their timeshare. Here are some tips on buying and selling a timeshare.

Tips

1. Purchase the Timeshare Through the OwnerInstead of buying a timeshare through a development company, purchase it directly from the owner. There are a number of websites, such as My Resort Network and The Timeshare User’s Group, that provide excellent listings.

2. Buy the Timeshare with CashSince the rates for timeshare loans are higher than mortgage loans, it is better to purchase the timeshare with cash. Additionally, the value of the timeshare will depreciate over time, meaning that the buyer will be left to pay off a hefty loan after a period of time and unable to sell the timeshare.

Conclusion

3. Use a Local Real Estate AgentWhen choosing a broker, look for someone that has experience in selling timeshares. Even though the agent will typically be successful in selling the timeshare, be ready to pay a high commission.

4. Sell the Timeshare OnlineThere are a number of timeshare-sales websites, including RedWeek, TransAction Realty, Craigslist, and eBay. When listing the timeshare, make sure to showcase its unique features. Moreover, post the ad at least two months before vacation time as this is when most people are looking for timeshares.