An appraisal is an estimate of a timeshare property’s market value, as assessed by an appraiser.
Market value is commonly defined as the price a potential buyer would be willing to pay a voluntary seller, which, in turn, reflects in recent sales data. While some timeshare owners make seek an appraiser for their property ownership, a sizable amount of timeshare appraisals have been shown to have issues with legitimacy in pricing, as they may fail to show legitimately comparable data, and/or do not provide any additional credibility to the overall sales process. Be sure to inquire with the resale company who owns the appraisal company before accepting the market value as being fair. There have been some situations that have arisen in which some resale companies requiring an appraisal to accept a listing also own the appraisal company they recommend.
If you have any additional questions regarding timeshare appraisal and the role it plays in timeshare property ownership, feel free to contact us to speak with a licensed agent.