Buying a Timeshare on the Secondary Market
It may be frowned upon at the presentations, but buying a resale account can afford you great vacations at cheap prices. If you are thinking about investing in a timeshare ownership on the resale market, you have many factors to consider during the course of your purchase. You can spend a lot of time on deciding which club or size of ownership is best to suit your needs, but it doesn’t have to be a difficult experience.
Selecting the Product
You have many choices of timeshare products in today’s market. The major differentiating factor can generally be explained by the difference between a week-based ownership and a points base ownership. Based on your vacations needs, you may opt for a flexible points based ownership that allows for multiple unit sizes or different locations.
A weeks based timeshare can be great for those that would like to travel to one specific location at one specific time of the year. You should keep in mind that many weeks based timeshares can also “float”, meaning owners can choose their week of the year based on availability.
Dependent on how much vacation time you are planning to take each year, or where your family likes to travel, there may be major benefits for owning one type of ownership over another.
Safety of Transfer
You wouldn’t do business with an unlicensed agent when buying a home, so why risk your timeshare purchase with someone who many be hard to track or report? Look for Licensed Real Estate Agents who do timeshares, with many years of experience in the timeshare industry. Taking advantage of their knowledge can help you save valuable time in researching each individual product.
In order to protect your deposits and assets, demand the use of a licensed, bonded and insured closing company, which should be used on each and every transaction. This step will ensure that you receive exactly what you are expecting. Each transfer should be detailed in a written agreement, which acts as a guideline for the closing company to ensure all terms come to fruition. Know your rights. Each ownership can be verified with resort’s transfer’s department or the county in which the deed has been recorded, prior to any transfer documents being ordered.
Buying on the resale market can offer a very low price in comparison to the retail presentations. Due to the fact that you are buying directly from the owner, you will not have to shoulder the costs of the presentation model that has been adopted by the retail developers. In many cases, used timeshares sold on the secondary market offer banked usage already in the account that the previous owner has already paid for, so you many want to look for accounts that have a large amount of currently available vacation time. Although, if immediate usage isn’t as important you can seek out timeshares with littler to no usage that carry a more affordable price.
If you are looking for more information, feel free to contact us, and we will have one of our Licensed Agents contact you.