Resell A Timeshare?
Whether you’re interested in purchasing a timeshare for the first time, or you’re finding yourself looking to somehow get out from under your interest after a period of ownership, you may hear tales of your fellow consumers struggling to find a buyer on the resale market.
You may hear stories of scammers eager to prey on timeshare consumers looking to resell their interests. You may hear that some owners have no luck selling their interests, even if they list them on public-facing sites for as little as a few dollars.
So, you may well be wondering, what’s the bottom line? Is a timeshare interest going to be difficult to sell on the resale market? True or false?
Our own Michael Finn recently addressed those questions in a video interview, which you may watch below:
And here’s a transcript of his remarks:
“Absolutely, true. In fact even if your timeshare is paid off and your maintenance fees are paid up to date, still very, very difficult to remarket.
Why? You might ask yourself. Probably two main reasons.
Number one, you’re competing against the developer who sold you your timeshare. They don’t want you trying to resell that timeshare at the minimal price that you are going to be asking for it. Number two, the maintenance fees that you’ve had to pay are very comparable to what you would pay if you just booked online for a one-time vacation. So, why would you want to incur the annual cost of the maintenance fees if you can simply book and get a comparable vacation experience? Timeshares are just not a very good overall investment.”
For more of Michael’s thoughts on the nature of the timeshare resale market, you may wish to peruse some of the articles below:
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.