Need Professional Help? Talk to a Lawyer.
I've been told that I shouldn't by a timeshare because it will be hard to sell it later. Is this true?
3. I've been told that I shouldn't by a timeshare because it will be hard to sell it later. Is this true?
Very likely, yes. Timeshare owners face a few difficulties when they try to sell. The first hurdle is the lack of a strong resale market. Although statistics vary, all studies show that there are many more timeshare owners wanting to sell than there are people looking to buy a timeshare.
Another problem is the likelihood that you will lose money on the sale of a timeshare. The original price of a timeshare may have included premiums of up to 40% to cover sales costs. Also, timeshare properties age and can become less desirable. So your resale price may be anywhere from 20% to 60% of the original purchase price -- plus you will have to pay a commission to the broker (often as high as 20% of the resale price) who sells the property for you.