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Can I and/or Should I Buy Resale?
While you can, in most cases, buy a timeshare resale, either from the original owner or a resale company, it is important to find out why the timeshare is on the resale market. Conservatively speaking, 90 percent of timeshares on the resale market are there because they don´t work, or more to the point, don´t work as they were promised to work. For instance, if you plopped down $5,000 on a week of timeshare in Possum Breath, Alabama, and were "promised" by your salesperson that you would be able to trade it for a week in Hawaii, New Orleans, Gaitlinberg or Australia every year, you are likely to be disappointed and possibly attempt to recoup some of your purchase price by reselling. Now, you could possibly pick up that week of timeshare for say $2,000, which on the surface seems like a steal, but if you wish to go to those same places yourself, you are going to be just as disappointed as the original owner. Case in point: I met a young man at the resort where I was working who claimed to know "everything about timeshare" and further informed me that "My Daddy bought three weeks of timeshare in Galveston, Texas, on the resale market for only $1,000 each" and that "I know that Orlando is more expensive and I won´t buy here." "Great," I said to him, "and could you tell me where your Daddy has been able to exchange with these weeks of timeshare?" "Well, actually, he hasn´t been able to exchange it yet," the young man admitted. "And tell me, does your Daddy like to vacation in Galveston?" I asked. "No," he answered glumly. "Well then, what good does it do your Daddy to own three weeks of cheap timeshare in Galveston, Texas?" I asked politely. Three hours later, Daddy´s son had purchased a $12,000 timeshare from me because he understood timeshare. Only 10 percent of what is out there on the resale market is there for what I consider "legitimate" reasons, such as death, divorce, the need for quick cash, etc. If you are considering purchasing a timeshare on the resale market, it is best to hire someone with a legal or timeshare background to do your work for you and insure that it is everything that it is advertised to be. Cheaper is not always better.
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