We hear many horror stories about consumers being scammed into buying timeshares that don’t exist or are lower than the quality that they were promised or in wrong location. These leave the owner trying to get out of his timeshare contract. However, the trend of buying timeshares through internet auctions today is catching up.
There are a number of internet auction sites for timeshares these days. With these sites, the vendees have the freedom from those nasty sellers who adopt illegal methods to sell their timeshares. Popular auction sites like eBay and bidshares allows users to buy and sell timeshares through their site. Although there are quite a few other sites for timeshare auctions, eBay and bidshares are considered the most reliable and safe sites to conduct timeshare auctions. Such sites charge absolutely no upfront fee either to put your timeshare on sale or to bid on timeshare sales. They just charge after your bid is successful.
When bidding on a timeshare, there are a few points to be considered. First, try to establish a conversation with the vendor as soon as possible and know whether the seller is responding well to your queries or not. If yes, how soon and find out whether he is giving you the total info or not. The above practice would eliminate a couple of the possibilities of you being trapped in timeshare scams.
Another significant aspect to remember while bidding on a timeshare is to do your homework in advance by finding out the complete info about the vacation property. The details include the name and location of the property, amount of bedrooms, number of bathrooms, Exchange Company’s name that seller’s resort manage, the date by which the property is ready to use, annual maintenance fee of the resort, sizes of bedrooms and if there is any appraisal this year.