The Truth About Timeshare
Timeshare is and always will be a difficult
topic of discussion. Most owners currently sharing time
think of their week as "real estate" and sadly
so, this is not true.
Although real estate agents may sell timeshare, technically
it is simply deeded time and here's why:
- You can't make any modifications to the unit.
- You can't place a for sale sign in front of it.
- How can you show it to a buyer when it's not your
week?
- Would you hang your family pictures in it?
Timesharing is merely several owners all using
the same vacation property during different intervals.
When a buyer signs on the dotted line, all they are
purchasing is a block of time, and not the physical
property.
Most owners who purchased these resales directly from
the resort have over paid compared to what private owners
are selling for today. This is a sad truth but your
timeshare is still worth something and selling for a
bit less than you planned is still a good thing.
Once you're done with the timeshare you must now
sell it. Doing that can sometimes be difficult.
You will have to solicit the help of a resale advertising
company or somehow sell it yourself. If you decide to
use a company they will charge an up
front fees for their services. Be cautious at this
point, think about the money and don't get scammed!
We're not saying timeshare is worthless or that
all timeshare loses value, but it must be looked at
realistically. In the real world it was purchased for
$10,000 and the same owners kept it for 20 years, to
sell it now for $4000 or $5000 is fantastic, unless
it's one of those timeshares that really hold their
value or the resort has a team of sharp suited salesmen
selling these units from the resort. Check Out Our Pricing
Guide
Think of it this way, if the resorts are selling the
same property now for $15,000 and private owners are
selling for half that, how can one expect to sell for
more?
Timeshare is a great idea as long as it is kept
in the correct perspective. Owners should carefully
weigh all their options and keep the truth in mind about
timeshare. It's not real estate, and most often the
return on your investment was the many years of vacations
spent there with family and friends in that timeshare.
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