Timeshare properties are initially sold by the developer or resort. However, a timeshare can become available for resale by the current owner (private owners).
What is a timeshare resale?
Timeshare resales are sold by owners that no longer wish to use their timeshare. It may help to understand timeshare resale as a second hand timeshare. Developers or resorts do not buy back timeshares from the owners. The rooms you stay in are exactly the same as rooms used by owners who bought directly from the resort/developer.
Timeshare resales come with lower price tags
Timeshare resale price tags are about 50% to 75% lower than direct sales by the developer. Here at Ocean Wind Realty, we have a list of timeshares available resale, ranging from Hilton Grand Vacations, Marriott to Disney Aulani and Wyndham.
While developers and resorts have the abundance of resources to promote their timeshares, resales don’t entail a heavy campaign. In addition, owners are usually the ones deciding on the selling price. If there are many timeshares for sale, the price tends to go lowers as there are many owners wanting to sell.
Timeshare resale restrictions
It is however, important to note that there are some limits to timeshare resale. Perks change time to time so it is important to check the restrictions before purchasing.
For example with Marriott Vacations Club, you will only be able to purchase a weekly ownership on the resale market (no points), specifcally tied to a particular resort. If you buy a Koolina ownership, you will only be able to book a unit at Koolina for one week every year (or every other year). Also, you will not be able to book Marriott hotels.
With Disney Aulanil, you will not be able to use the points for cruises and other Disney timeshares opening after January 19, 2019. As a resale owner, you will also not be issued a member card that provides discounts at certain shops.
With Hilton Grand Vacation timeshares, you will not be a Max member if you buy a timeshare on the resale market. A Max member provides you access to both HGV properties and Diamond Resorts properties. You will also not be able to become an Elite member and trade-ins are not allowed.