Timeshare buying can be accomplished in several different ways. It is important to understand the choices available because there may be $1000s of dollars at stake. It is very possible to save $1000 of dollars with the correct choice. This article will look at 3 of the most common methods of timeshare buying.
Most people are sold timeshares through a presentation at a resort. Free vacation weekends are the usual method of attracting people to listen to a sales presentation. There is a lot of pressure to buy during a presentation because that is how the salesman makes a living – by selling you a timeshare. A resort salesman makes a living by earning commissions from selling you something. Timeshare salesman are not the best and most reliable source of information concerning the advisability of your purchase. The cost of the sales commissions and support staff salaries are all included in the cost of the purchase of your timeshare.
Timeshare resellers are the second most common source of timeshare purchases. These companies act as brokers and bring together property sellers and property buyers. When using a reseller service there are a number of things to consider. As a buyer you need to understand what type of fees they have that have been added onto the price. You also need to understand what fees there are above and beyond the price of the timeshare. A partial list of these would be title fees, state transfer tax, special resort assessments and unpaid maintenance fees. It is also important to be aware of when you will have access to the property. If this year has been used you will have to wait a whole year before planning your vacation.
The third and possibly the least expensive method of purchasing a timeshare is to buy one directly from the owner. There are many places that list timeshares for sale by owner. Of all the places that list these timeshare my favorite place is Ebay. There a many examples that I can site but one that comes to mind is of a timeshare that is selling for $14,000 less then the resort’s sales price. Now that is an incredible savings. As with any direct purchase of a timeshare the additional fees that are seen in a reseller purchase apply here as well.
In any purchase the buyer should always be aware of any pitfalls. Do your homework and carefully research your potential purchase. The advantages of buying a timeshare directly from an owner are incredible. Using the above example you would see a savings of $14,000 not including the cost of interest. Incredible.
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