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Re: WALK AWAY FROM TIMESHARE (by R P.):

andrea364 wrote:

I have questions about timeshares. I am seriously thinking about buying a timeshare on the beach in my favorite place New Smyrna Beach, Florida. There is a listing on eBay I am thinking about bidding on and the auction ends in less then 24 hours. The cost would be whatever the auction ends at, plus closing cost of about $400.00. It is week 2 for inventory purcpose and floating week 1-52, 2 bedroom, annual mainentance fees are about $425 right now. I have never bought a timeshare before, so I am hesitant to do it. Are these things worth it? There is no way I could stay on the beach for anywhere $425 per year. I could also buy through Redweek for up to $1500 for a 1 bedroom. This is at Islander Beach Resort a very nice place as I have seen it from the outside, while driving by. Can some one please help me to decide. Are these easy to sell if I loose my job, etc and need to get out or am I going to be stuck for the reat of my life? Also, what about RCI, etc. I know nothing about these things, please help!

Thank you,

Andrea

Andrea, I don't know if this has been answered previously, but I will try to answer your questions.

Before I bought any timeshare I would peruse timeshare auctions on Ebay ..... do a search for where you would like to own. Ebay has the very lowest cost resale timeshares due to PCCs (postcard companies) that retained ownership by transferring it to themselves (or using a power of attorney) after receiving it from an owner that just wanted to be rid of it and paying the PCC $3000+ for that privilege. The PCCs then turn around and put them on Ebay for $1.

You could possibly get what you want for nothing to $1 on Ebay, but you asked if timeshares are hard to sell if you lose your job. It depends on supply and demand of the resort and your time owned. Many timeshare weeks can't even be given away, so keep that in mind. Also, exchanging is a crap shoot and is expensive.

The mantra from most seasoned timeshare owners is to buy where you like to go every year, don't buy to exchange because you may be sorely disappointed in your choices.

In closing, especially in this economy, it's much easier to buy a timeshare than to sell a timeshare.