How To Buy A Used Timeshare
The title is a bit misleading, there really isn’t anything “used” about a timeshare purchased on the secondary market (anytime you buy it from someone who isn’t a developer), so calling it used is a bit misleading. Since a timeshare is a fractional ownership of a resort, which can shift from one unit to another (or remain fixed), you aren’t really super concerned with many of the things that are unappealing about used.
With a used car, you might be concerned that the car wasn’t properly operated, that it wasn’t maintained, or that it has hidden damage you don’t know about. With a used timeshare, you have none of those fears. An annual maintenance fee ensures the resort is maintained to the owner’s liking, that any damage is repaired quickly (so the room can be given to another timeshare owner), and everything is on the up and up.
The only thing you don’t get, when buying on the secondary market, is the opportunity to pay the exorbitant marketing and sales fees! So, where should you go if you want to buy a used timeshare?
- Resort Office: If you have a particular resort in mind, give the resort’s management a call. They should have information about any timeshares up for sale or they may be able to contact their owners to see if anyone has been considering selling. Dealing with the resort management puts you at a disadvantage because you often won’t get many data points to help you determine the fair price.
- Timeshare Resale Broker: There are probably as many timeshare resellers as there are sellers, so locating a timeshare reseller in the area you want to buy a timeshare will be helpful. The advantage of a broker is that they can usually give you a bunch of different options that will help you gauge the average prices.
- Internet: There are plenty of timeshare resellers and bulletin boards on the Internet, Google is your friend!
Those three are probably the best places to look but you can also try online auctions, Craigslist in the area, or even the local newspaper. I think you can save yourself a lot of searching time by going with the Internet or a broker.