Precautionary Steps for Timeshare Resales

As reported last month, the American Resort Development Association (ARDA) has released their two advisories that provide timeshare owners with tips to help them have a good experience when considering a timeshare resale. In an effort to dispel misinformation and confusion in the secondary timeshare market, the advisories include tips on: how to review timeshare resale companies, best practices to look for and general information on costs for services.

"It's simply a matter of buyer beware.” Says Cindy Thomas, Stoneridge Resort Manager. “With the state of the economy today, a large number of our owners are being approached by a variety of companies, with offers of previously unheard of rental revenues or resale prices, and even just "getting out from under" one's timeshare week. Many of these offers are hard to understand, even for the savviest of timeshare owners. Unfortunately, we have heard from many owners who were dissatisfied with the end result of these transactions and little can be done about it after the fact. As always, if a deal sounds too good to be true, it just might be. Be aware and be diligent. Do your own research and check with your own timeshare resort association before doing anything.”

The first timeshare resale advisory focuses on the types of timeshare resellers with four steps to guide consumers through the process: utilizing existing resources, understanding timeshare resale companies, choosing the best option, and following basic rules.

The second timeshare resale advisory provides tools to evaluate resale companies with a list of tips.

All consumers and timeshare owners who are considering reselling their timeshare should conduct their own research and do their due diligence. See the timeshare resources section of RedWeek.com for more details on Selling Your Timeshare.