The one important almighty truth that you should know about timeshares that salespeople will certainly not tell you is that timeshares lose value in much the same way a car loses value when you drive it off the lot. They will all lose value. However much money you put into the purchase of the timeshare, you can be certain that you will not be able to sell it for that price or higher.
There are an estimated 4 million timeshares owned across the U.S. with more than 3 million of them up for sale, according to Ed Hastry, the president of the National Timeshare Owners Association. Despite even the best sales pitches, the odds of selling a timeshare in a market of over 3 million are not in your favor.
Other reasons for the loss of value in timeshares include the simple fact that timeshare salespeople continue to sell shares for rooms already owned.
These salespeople have a lot more at their disposal, including masterful sales techniques and a captive audience. You, however, are left with little else but to post your timeshare on a site and watch it sit there with little attention.Now, for those of you who don't own a timeshare, this comes as welcome advice if you're thinking about purchasing one. For those of you that are in the position of looking for timeshare relief, you've hit a brick wall with very little options.
Timeshare ownership presents several problems, none of the least of which are yearly fees and special assessments. There is nothing you can do to stop these fees. Not only are you bound to pay them, but if you look to stop paying, the companies will go after your credit, send a collection agency after you, and effectively seek out payment until they receive what is owed. And even after your credit is battered like a pumpkin in a hurricane, you're still left paying the fees.
The best solution for those who no longer want their timeshares is to unload it as fast as you can for as little as you can. There is no guarantee that a timeshare can even be given away with a price tag of $1 on eBay, or even free on Craigslist. Serious buyers are hesitant of these sales, and look to find other means of buying timeshares. The rental market is also stacked against sellers of timeshares.
These are some issues to keep in mind when considering your timeshare relief options.
Shocking Evidence Reveals Timeshares Lose Value As Soon As The Ink Dries