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The Truth About Timeshare Resale
TIMESHARE HAS ZERO PROPERTY VALUE
A timeshare deed is a title that grants you “ownership” of a connected week number or a sum of points.
You own “time” (a membership), while the resort developer owns the actual property. The resort contracts stipulate that a room does not have to remain available for you without a reservation. Then, even if you are unable to book a reservation due to non-availability or a point limitation, the contract stipulates that it must continue to be paid.
The contract lives longer than you do. Most timeshare contracts are perpetual, which means they are forever. Even when the timeshare purchase price is paid off, the contract still ties you to maintenance fees.
Maintenance fees are annual dues ranging upwards of $400 which the resort charges, supposedly to “maintain the property”. Maintenance fees will rise every year to whatever amount the resort developer would like.
The contract and fees are perpetual, so when you pass away, rolls over to your beneficiaries, whether they want the bill or not.
There is almost no resale market for timeshares.
It’s common for timeshare owners to want to get rid of their property and maintenance fees by selling them online for a very low price.
Unfortunately, it’s rare for anyone to make a profit when selling a timeshare. Those who own a timeshare with a paid-off deed often sell or give away their contracts on websites like eBay or Facebook.
If you’re looking to sell your timeshare, be aware of scams where a supposed “buyer” offers to purchase your property for double what you paid.
Although the buyer may not ask for an upfront fee, they will ask for a “tax fee”, “insurance premium”, “advertising fee” or something similar in the middle of the transaction, which is completely fake.
The scammer will continue asking for more fees, promising to reimburse you later, but in reality, there is no buyer, and you won’t get your money back.
If you’ve fallen victim to a timeshare scam, call our Timeshare Cancellation Experts at +1 (786) 665-8290.
If timeshare truly had value, wouldn’t resort developers be eager to take it back?
Call our Timeshare Cancellation Experts at +1 (305) 724-3557 Stop yourself from falling deeper into the timeshare money pit and avoid resale scams.