Purchasing a used timeshare can be much more lucrative than buying new as a timeshare depreciates quickly in the first year. A good part of the cost of a new timeshare includes the sales and marketing costs which aren’t necessary in the resale market. Many new timeshare owners are lured into high pressure meetings that result in the buyer purchasing a timeshare before they actually know what they are getting into. Once they decide to sell, they discover they cannot sell for the price they bought it for because of the competition.

When looking for a used timeshare, check online and do a search for used timeshares for sale by the owner. Having a certain location in mind, search for used timeshares in that area. Go to the property and scout out certain amenities desired in the timeshare such as a pool, gym, restaurants or a nearby golf course. The client should ask to look at several units to insure proper maintenance is being kept up to par. Stay away from properties with unclean floors, shoddy workmanship or unkempt grounds

Other areas to inquire about include the fees associated with the timeshare purchase. Most timeshares require maintenance fees that may increase from year to year. Inquire about fees from past years and how much they increased. Ask current timeshare owners how they like the property and if they have any complaints. Current owners that aren’t actually selling a timeshare may be more forth coming with information valuable to a buyer for a used timeshare. Comparing prices of used timeshares helps the potential buyer get the most for his money.

Another item the client should inquire about is getting a certificate or a deed to the timeshare, along with looking at the contract a few days before signing. A deed is better than only a certificate of use. If the seller does not want to produce a contract until signing, he may be wanting to hide something. Get the contract at least a week or a few days before signing and have a professional look over any unfamiliar language. The buyer needs to have a firm grasp of what is included and what is not included in the terms of the contract before signing. Ending up with a timeshare that’s not what the client expected is not a good purchase.

Make a counteroffer if the price is higher than you want to pay. The price is negotiable and with a competitive market, the buyer has the upper hand.

Knowing the ins and outs of purchasing a used timeshare will go a long way in helping secure the right vacation property.

An increasing number of travelers are embracing the flexibility and convenience of timeshare properties around the world. A timeshare is a jointly owned property that is set aside for the use of certain owners at particular times of the year. Often these are condominium-style properties that are close to resorts and major tourist attractions. Timeshare properties can be found throughout the world.

It sounds like a great deal and in most cases, it is. However, as the popularity of timeshares has grown, so have the scams involving timeshare sales. Getting tangled up in such a scam can be infuriating, expensive and stressful. By keeping a few simple safeguards in mind it is nonetheless possible to purchase a valuable timeshare without getting scammed.

Consumers should always check out a potential timeshare purchase with the Better Business Bureau. Contact the local office to find out how many complaints the timeshare company has recently endured and how those complaints were resolved. Keep in mind that almost every business will have a few complaints, but an inordinate number should tip off wary consumers to stay away. Similarly, if the timeshare company is not listed with the BBB, then the consumer should steer clear.

Another safeguard is to get everything in writing. Insist on written contracts detailing the precise terms of the purchase contract. Do not be afraid to have an attorney review any paperwork before signing or paying any money. A qualified attorney can likely review such a contract quickly and without charging an arm and a leg. Do not do business with any timeshare company that is reluctant to put everything in writing and allow it to be reviewed by an attorney.

As with all major purchases consumers should be wary of deals that are too good to be true. If the annual fees and cost of upkeep on the property seem far lower than they are for comparable timeshare properties, then this may be a scam to elicit an initial down payment just before the timeshare company mysteriously goes out of business.

Great timeshare companies do exist and they represent excellent vacation opportunities. They can truly help save money while also allowing travelers to visit some of the most popular destinations in the world. By keeping a few simple tips in mind it is possible to avoid possible scams to ensure that any investment in timeshare property really is worth the money.

When people first receive the phone call that they have won a drawing for a free vacation, or another prize of similar value, but that they need to come and sit through a timeshares presentation in order to receive their prize skepticism is a natural reaction. It is normal to feel a bit apprehensive and even uneasy about such a situation, wondering if it some sort of scam. The truth is that these prize drawings are not scams but tactics in which timeshare companies can get potential customers to sit in on a sales presentation. Those who do sit through the presentation, whether or not they purchase a timeshare, do receive their prize as promised, but the cost is their time and having to stand against high pressure sales pitches.

Upon entering the company where the sales presentation will occur, the atmosphere is usually friendly and luxurious. This is to get potential customers in the right state of mind before entering the presentation. Generally speaking there is only a short wait before a group of prize winners are ushered into a room where they may be shown a video presentation about the wonderful aspects of owning and vacationing at a luxury timeshare around the world. Sometimes it is not timeshares but variations that they are selling, such as memberships into a program that allows you to visit a variety of resorts around the globe. The video is alluring and can be quite seductive.

After the video has concluded, each individual or couple will be partnered off with an individual sales representative and escorted to a private setting to discuss the video and the options for purchasing. The first sales rep is generally quite friendly. He or she will try to establish common ground with the individual, share about his or her own life and build a general feeling of endearment. Then the sales begins. The sales rep will share more about the programs for sale, the many benefits, show pictures of people in paradise on the beach, explain the importance of getting away and unwinding and more.

When it gets to the costs involved, the sales rep will explain that anyone can afford the program because there is financing and payments plan options. This is where the pressure builds. After listening to the video and private presentation, if the person is not interested in buying a timeshare the rep will turn up the heat. If he or she cannot push through the sale reinforcements are brought in by means of a senior sales representative. This second sales rep will come across as a bit more pushy, high-pressuring and almost belittling in his or her attempt to sale the product. Many buckle under this pressure, but for those who persist in declining to purchase after quite a while of back and forth discussion, the prize awaits them as they walk out.

The free vacation ends up usually being a voucher for a free night’s stay at a hotel somewhere. People do take advantage of it and enjoy their free vacations. After all, they sure earned it!

Owning a timeshare is not the same as owning other property. The physical property itself is broken into shares with each person owning a prescribed time period in which to use the property. Strict rules apply to its use, maintenance and repairs. Touted as a sound investment by real estate developers, many individuals find it difficult to sell their share(s) to another party.

There are options for the timeshare owner to increase the odds of selling. An unpleasant fact is the owner can expect to lose thirty to fifty percent or more of their initial investment.

First, establish the realistic value of the timeshare. Hire a real estate agent experienced in this type of sale to give an honest evaluation of the value. If no agents are found in the local area, an online search may prove beneficial. Research other timeshares in the same area and record their sales prices. Do not be shocked to find the price far below what the original price was. Many sellers do not have the sales pitch, presentation or prizes of the real estate developers.

Second, advertise the timeshare in the local newspaper and on online timeshare sites, auction sites with a minimum price set, and other sites. Describe the property honestly and include pictures. Clearly state this is a timeshare, not the whole property. You can expect to pay a small amount to post on the auction sites, but if you are asked for several hundred dollars, beware.

Third, list the asking price below other prices in the area, but above the lowest price. Buyers are looking for bargains; they will skip the highest and the lowest price tags. Listing above the other prices looks inflated while listing the lowest price gives the impression something is wrong with the property.

Fourth, if hiring a real estate agent is too costly, hire a real estate attorney to handle the paperwork for the sale. This ensures all the details are covered, no hidden fees will surface later, and the sale will be final.

Fifth, if a loan still exists on the property, be prepared to pay it off with the sale proceeds. If the sale does not garner enough money to pay off the loan, the title might not transfer. This is where a real estate attorney can give advice and help to the seller. Some owners take out home equity loans to pay off timeshares, but this is places the primary residence at risk. Selling property, such as vehicles, stocks, etc., may prove a better option.

Lastly, be honest with prospective buyers. The annual maintenance fees, repairs, the view, local businesses and prices, everything the buyer asks deserves an honest answer. If the buyer double- checks and finds the seller dishonest, the sale is dead. The seller may find it impossible to sell the timeshare.

With work, a timeshare will sell. It just takes work and patience.

Things to remember:

• Be prepared to sell for less than you bought it for.
• Work with a reputable agent to sell.
• Don’t pay anything in advance to sell your timeshare, other than a small listing fee on a popular site.