In some cases, consumers looking to purchase a timeshare interest for a reduced cost may find a suitable option on the resale market. In fact, eagle-eyed buyers may be able to find listings for as little as a few dollars available on certain platforms.
However, it’s important to remember that this resale marketplace is not without its own set of pitfalls for consumers. There are certainly questions worth asking before attempting to purchase a timeshare on the secondary market.
One such question that tends to come up goes along the lines of this: “What is the difference between buying a timeshare on the resale market through an owner directly, or through a broker?”
Our own Michael Finn recently took on this common FAQ in a video interview, available here:
And here’s a transcript of his remarks:
“…Whether or not you use a broker depends on a couple of factors.
If you’re buying it from a family member or somebody that you know very well, the chances are that you’re going to get full disclosure as to exactly what you’re buying. If you’re buying it on the open market from a stranger, that stranger has no motivation to tell you things that might discourage you from wanting to make the purchase.
So, I do recommend – unless you’re buying it from a very close and trusted friend or family member – that you use an experienced real estate broker. There are just too many pitfalls out there, things you would have no way of knowing that that broker is going to be able to help you with. In my opinion, if you’re going to buy on the resale market, which I recommend, use a broker unless you’re buying it from a very close friend or family member.”
Other Timeshare Articles of Interest:
- ‘Why Should I Purchase a Timeshare Resale Instead of From a Developer?’
- ‘Does the Timeshare Resale Market Really Favor Buyers?’
- The Unconscionable Suppression of the Timeshare Resale Market
Led by Attorney Michael D. Finn with 50 years of experience, the Finn Law Group is a consumer protection firm specializing in timeshare law. Our lawyers understand vacation ownership as well as the many pitfalls of the secondary market of timeshare resales. If you feel you have been victimized by a timeshare company, contact our offices for a free consultation. Know your rights as a consumer and don’t hesitate to drop us a line with any questions or concerns.