In these slower economic times, people are watching their dollars more carefully than ever. Many consumers do not have the resources for investing in and then maintaining luxury items such as vacation home properties. While the challenging economy has caused the wholesale timeshare market to struggle, you may be surprised to learn that the online timeshare resale industry continues to thrive.
One would expect that in a tough economic climate, the number of timeshare owners trying to resell timeshares would rise, yet interestingly, just as the number of sellers has increased, so have the numbers of buyer offers on properties. Interest is still strong and timeshare buyers haven’t gone away; buyers are just looking in different places to buy timeshares, trying to find better deals.
Many consumers are recognizing that online timeshare resale websites offer an excellent way to become a vacation owner without paying the developer’s full asking price. There is essentially no difference between a timeshare resale and one bought through a resort – other than the price the buyer pays to become an owner.
Timeshares do not appreciate in value and anyone who implies that they do is not a reliable source for information about vacation ownership. Instead, think of buying timeshare as being much like the process of buying an automobile. You buy a timeshare, use it, enjoy it, and recognize that the “day you drove it off the lot,” the resale value of that timeshare began to decline. Yet the timeshare resort itself doesn’t typically deteriorate. Timeshare owners pay annual maintenance fees designed to cover the cost of updates and refurbishments to the unit and at the resort.
Most resorts offer the same benefits and perks to owners who purchased a timeshare on the secondary market as they do to owners who paid full price and purchased their timeshare directly from the resort. Some resort brands may limit which benefits transfer to owners of a resale timeshare. For example, timeshare owners who purchase timeshares as resales will be able to enjoy all the same usage and amenities as owners who bought their timeshare directly from the resort. But the resale buyer may have different timeshare exchange benefits than the benefits afforded to the resort buyer.
As a buyer, if certain perks are important to you, you’ll want to research which benefits can be transferred to you as part of the resale purchase. Many timeshare buyers feel that the slight differences in owner benefits that one experiences by buying timeshare directly from the resort are not worth paying double, triple, or even more in price for the same property they can buy for much less as a timeshare resale.
In the online resale market, sellers can choose whether to sell by owner (known as an FSBO sale), or to use a licensed timeshare broker. Many sellers elect to handle their timeshare resale themself, turning to an online advertising website to help them publicize their timeshare for sale by owner, and reach interested buyers.
In a by-owner timeshare sale, resale offers are submitted directly to the current owner, which gives the buyer and the seller the capacity to work out acceptable terms without dealing through a middleman. Sellers go to the online resale market to sell their unwanted properties, pay a fee to advertise their timeshare, and when the timeshare sells as a by-owner sale, they do not pay any brokerage commission.
For sellers who prefer a turnkey approach to resales, a licensed timeshare real estate broker is a good choice. A timeshare broker will advertise the timeshare for sale, charging the owner no upfront or advertising fee, will handle all details of the timeshare sale, and then will take his or her commission from the final purchase price.
Whether the choice is a brokerage or by-owner sale, timeshare resales are a win-win situation for both the buyer and the seller. Sellers benefit by getting out of their annual maintenance fee obligations and perhaps making money back, while buyers benefit by getting a better deal than they would by buying directly from a resort. Timeshare resales online often are being sold at up to 70% off retail resort price. What accounts for the difference in developer prices versus online resale prices? Properties bought directly through a developer are priced to cover sales commissions, marketing fees, and all those “free” gifts offered when you sit through a timeshare sales presentation at the resort.
The development and growth of the timeshare resale online market has given power back to owners to sell and rent out their property on their own. For those fortunate enough to buy a vacation property, the timeshare resale market has become an opportunity for big-time savings of the purchase price of what could prove to be a lifetime of great vacations.
For more information about selling a timeshare, go to: http://www.sellmytimesharenow.com/ . Here you will find information not only on selling your timeshare, but also on renting out your timeshare, finding out what your timeshare is worth, advertising your timeshare, or even find a last-minute timeshare if you’re looking for a vacation place to stay.