How to Discover the Expected Resale Value of a Timeshare..
Valuation is perhaps the most confusing aspect of timeshare ownership, and the one area consistently targeted by many timeshare related scams that prey on consumer misinformation. Discovering the potential value of a timeshare, however, is a relatively easy process if the proper time and attention is devoted to the task.
To discover the expected resale value of your timeshare, follow these three simple steps:
1) Understand the vacation ownership product that you own.
2) Search online for ads of comparable timeshares that are for sale.
3) Request a comparative market analysis from a respected real estate broker specializing in timeshare and vacation resorts.
Step One: Understanding What You Own..
A big part of the issue facing timeshare owners is that many unscrupulous develops sold vacation ownership packages as real estate investments. This is one of the most common misconceptions of timeshare. Vacation ownership products will generally diminish in monetary value immediately after purchase. It is not unusual for resale prices to be less than 50% of developer pricing, and in a highly competitive seller market realistic values can quickly diminish to nothing at all!
Step Two: Find Comparable Timeshares for Sale Online
The next step in determining the resale value of your timeshare is to step into the mindset of a potential buyer. The incredible power of internet search engines makes this very easy. Within minutes, you can likely find numerous for sale classifieds that are either exactly what you own, or are very similar. When you do this, always bear in mind that a potential buyer will be looking for the lowest priced ads- so never settle for any results that "average" asking prices and don't base your valuation on anything but the lowest priced comparables. Never forget that most upfront fee companies make money from selling advertisements, not selling timeshares! Always take the time to search several different venues.
A perfect example of this type of price confusion can be seen with the timeshare classified website Sellmytimesharenow. At the time of publish, there are 4,898 timeshare ads on that website alone that are priced higher than $25,000. Many of these same timeshares can also be found with asking prices as low as $1! The popular forum website Timeshare Users Group features more than fifteen pages of "Free" timeshares. Always remember that a buyer will search for the lowest available price, so the lowest price you find should be the primary basis for your timeshare valuation.
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