The timeshare resale market is primed to explode. It’s a perfect storm of interest and availability. It’s about to be a bull market for timeshare owners.
Statistics from the American Resort Development Association indicate that timeshare sales have risen every year for the last 10 years. It’s guaranteed there are going to be people who need to resell their timeshare for whatever reason.
Keep reading to learn what you need to know about the timeshare resale market, whether you’re buying or selling!
Timeshare Resale Market 101
Some have a vested interest in making the timeshare resale market as confusing as possible. Some real estate companies that work with timeshares would like to make it seem like you’re locked into owning a timeshare. That simply couldn’t be further from the truth.
To start, if you’re considering timeshare resale you should start by getting a second opinion. Don’t just rely on your real estate agent who sold you the timeshare, if you have one.
You should start by talking to the property managers of the timeshare itself. They’ll be able to give you a better idea about the current resale market as well as give you some options.
Once you have a better understanding of the current market you’ll have a better handle on your choices, like choosing between retail vs. resale, for instance.
Timeshare Resale Market Warning Signs
Unfortunately, not all timeshare resale companies are acting in good faith. There are a ton of excellent businesses to help people buy timeshare resale but there are also some who take advantage of the resale market.
Luckily, there are signs you can look out for to help you identify untrustworthy timeshare resale companies.
Asking for unusually high upfront fees is the first sign a timeshare resale market might not have your best interest in mind. It’s not uncommon to ask for some money upfront. This means you should do some preliminary research into the timeshare resale market so you’ll have an idea of the going rate.
Keep your eyes out for threats from a resale company, as well. Some will claim that they’ll cancel your timeshare contract if certain criteria aren’t met. After a certain amount of time has elapsed, that’s impossible to do in most states.
This means you should also be wary of companies that claim that they can get you out of a timeshare contract with fancy lawyers. Again, the fanciest lawyers in the world can’t change laws.
Finally, you should be wary of unsolicited offers to buy or sell your timeshare. Even if you’re looking to sell a timeshare, real estate companies need explicit permission to contact you.
These are some of the reasons why it’s a good idea to work with a dedicated timeshare resale company if you’re looking to resell a timeshare. The industry’s got its own rules, laws, and regulations. A dedicated timeshare resale company will know the ins and outs of the industry so they can help you get the best deal possible!
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