How do I find out what market value is when buying a resale?

I just rented a week from an owner in Cancun and am seriously considering buying into a timeshare there. We stayed at the Gran Melia and almost purchased thru them but didn't like their best price. We would like a higher end resort in Cancun (Royal, Marriot, Melia, etc) but I have no idea of how to determine what a fair market value to pay is. Obviously I want to get the best deal but I also want the seller to know we are serious buyers instead of simply trying to give lowball offers. Any advice from sellers or buyers would be greatly appreciated.

byronh8 wrote:

I just rented a week from an owner in Cancun and am seriously considering buying into a timeshare there. We stayed at the Gran Melia and almost purchased thru them but didn't like their best price. We would like a higher end resort in Cancun (Royal, Marriot, Melia, etc) but I have no idea of how to determine what a fair market value to pay is. Obviously I want to get the best deal but I also want the seller to know we are serious buyers instead of simply trying to give lowball offers. Any advice from sellers or buyers would be greatly appreciated.

First of all take your time in buying, and as Mike said above, research all the resale sites to see what a comparable week you're searching was sold for. With resale timeshares, it's hard to come up with a fair market value many times, but there are some high end timeshares that hold their value better than others (Royals and Marriotts for instance). It pays to research, research and research some more before buying a timeshare.

byronh8 wrote:

I just rented a week from an owner in Cancun and am seriously considering buying into a timeshare there. We stayed at the Gran Melia and almost purchased thru them but didn't like their best price. We would like a higher end resort in Cancun (Royal, Marriot, Melia, etc) but I have no idea of how to determine what a fair market value to pay is. Obviously I want to get the best deal but I also want the seller to know we are serious buyers instead of simply trying to give lowball offers. Any advice from sellers or buyers would be greatly appreciated.

I wrote couple post in the past and it might help you with some idea's on buying /selling if you could find them!

We sold a condo years ago and some friends after watching us did same thing.

If you like the resort your renting ask the owner if he is trying to sell and if so try deal where much if not all your rent goes on the sale. Agree before going on a price.

We did this and four days after our renters were in PV Mexico and going on the tour called us to start the paper work.

Of coarse you are doing the right thing by checking resale pricing first.Many owners would try and up their price to cover your rental fee so lock price in before going.

If you work this deal get it in writing on your rental contract with total price after rental discounts so the price is locked in!

I wonder why I have not seen people looking to rent on wishlist state they would buy unit under this deal if they like the unit and resort.

You would be shocked with all the timeshares for sale how many owners might jump at this deal. Some not even trying to sell would have to think about it too.

List on Wishlist: Looking to rent at these resorts with option to buy your time share within two weeks of stay. Price to be agreed on with rental fee being deducted from sales price. Willing to pay this amount minus our rental fee.

The worse thing that can happen with this is nothing happens. Best result is you have great vacation,check out the resort and units and become owner at great price. Remember you are planning on spending the money anyway for vacation so this way it works for you if you buy!

GOOD LUCK! PHIL

byronh8 wrote:

I just rented a week from an owner in Cancun and am seriously considering buying into a timeshare there. We stayed at the Gran Melia and almost purchased thru them but didn't like their best price. We would like a higher end resort in Cancun (Royal, Marriot, Melia, etc) but I have no idea of how to determine what a fair market value to pay is. Obviously I want to get the best deal but I also want the seller to know we are serious buyers instead of simply trying to give lowball offers. Any advice from sellers or buyers would be greatly appreciated.

joycee31 wrote:

CAN YOU READ, ARE YOU BLIND ? ? AFTER READING ALL THE NEGATIVES ABOUT TIMESSHARE AND SELLING THEM, HOW ON EARTH CAN YOU POSSIBLY THINK OF BUYING ONE. BUYING A TIMESHARE SHOULD BE AN ACT OF CONGRESS AND TOTALLY ILLEGAL. GOOD LUCK.

Not necessarily ... there are many people that buy a timeshare where they want to go every year and be in the same unit (no surprises) and there are people that buy a timeshare to get a certain unit at a resort (beachfront, near pools etc ... again no surprises).

As long as the buyer buys resale at a fair price and realizes that maintenance fees are neverending and go up every year and that they are responsible for ownership until they sell it, then they would be considered a halfway educated buyer.

Timeshare ownership is not necessarily bad if you buy for the right reasons and you research all the pros and cons of ownership.

jayjay wrote:

joycee31 wrote:

CAN YOU READ, ARE YOU BLIND ? ? AFTER READING ALL THE NEGATIVES ABOUT TIMESSHARE AND SELLING THEM, HOW ON EARTH CAN YOU POSSIBLY THINK OF BUYING ONE. BUYING A TIMESHARE SHOULD BE AN ACT OF CONGRESS AND TOTALLY ILLEGAL. GOOD LUCK.

Not necessarily ... there are many people that buy a timeshare where they want to go every year and be in the same unit (no surprises) and there are people that buy a timeshare to get a certain unit at a resort (beachfront, near pools etc ... again no surprises).

As long as the buyer buys resale at a fair price and realizes that maintenance fees are neverending and go up every year and that they are responsible for ownership until they sell it, then they would be considered a halfway educated buyer. Timeshare ownership is not necessarily bad if you buy for the right reasons and you research all the pros and cons of ownership.

DON'T FORGET TO ALSO RESEARCH THE PROS AND CONS OF SELLING IT IF NECESSARY.

I bought at the Royal Resorts and love it. They are all 5 Star. You can find some goods deals with some research and the best thing about the Royal Resorts is they return a residual when your term is up. Make sure your purchase is deeded and not right to use. You can basically stay every year for the maintenance fee.