Introduction to Timeshare Resales
Many people are familiar with the concept of timeshare ownership – you purchase a real estate interest in a vacation property, which allows you to make use of the property on an annual or more frequent basis. Timeshare ownership is usually promoted and sold by major resort developers such as Marriott, Hilton, Hyatt, or Disney, but few people realize that there is another option for purchasing vacation ownership.
When a current owner opts to sell a timeshare, it is listed on the timeshare resale market, often through a licensed real estate broker, such as Fidelity. For prospective timeshare buyers, the resale market is an opportunity to purchase the same product available from developers, but at a substantially discounted price. Rather than being set by developers, timeshare resale prices are determined by current owners in accordance with supply and demand. As a result, some properties will be available for thousands of dollars less than the cost of buying from the developer, while others may be available at discounts up to tens of thousands of dollars.
Timeshare resales have tremendous benefits that have gone largely overlooked by the vacationing public, and this is primarily due to a lack of awareness. In the past, unwary consumers have fallen victim to timeshare resale scams, however, increased regulation has led to the rise of legitimate resale companies that operate with integrity and offer incredible opportunities for savings. In fact, the Federal Trade Commission has written extensively about safely buying and selling timeshares on the resale market.
Whether you’re a prospective timeshare buyer or seller, there are two simple keys to ensure a satisfactory experience with timeshare resales:
- Do your homework. Often you’ll be surprised by the value available on the resale market, but it’s important to set realistic expectations before pursuing a timeshare resale transaction.
- Work with a reputable broker. Timeshare resales differ from typical property sales and involve unique transaction processes that requires specialized market knowledge.
If you would like more information about the timeshare resale market, or you’re interested in buying or selling a timeshare, Fidelity’s licensed vacation consultants are available to provide assistance. Simply call or click below and one of our consultants will inquire as to how we can serve you.