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Are you planning to buy a timeshare in the near future?  If you are you may want to read this article to learn how to buy a timeshare cheap without paying the high fees by resorts.

Try Online Resources

The first place to try is online resources like eBay and Craigs List.  These sites are full of opportunities waiting to be snatched up.  Why you might ask, because their are literally hundreds of thousands of timeshares for sale.

In fact their are so many timeshares in Florida alone that their just isn’t enough buyers to take them.  This means big opportunities for you and getting a much cheaper deal in the end.

However, one thing I should mention before I move on is that a lot scammers are also on these sites looking to rip people off.  When looking to buy be careful of those who want just cash or check.  Instead the use of an escrow account should be used to hold the funds.

Check Your Local Paper

Next, another great place to look for cheap timeshare deals is in your local paper.  A lot of times these papers will be filled with people selling timeshare properties.

With the way the economy is today many people are looking to dump their timeshare in order to avoid the fees that come along with owning one.  For most of these people they’ve probably been looking to sell their timeshare for over a year or two now and have finally realized that their isn’t many interested buyers out there and are willing to drop the price to sell it .

A Final Thought…

As a last and quick final thought I should also mention that if you have never used a timeshare before and are still tossing the idea around my suggestion is to go to eBay and find someone who is renting out their timeshare week.  I suggest this first because it will give you more of an idea if this would be something you would like to buy in the first place.

These days, everyone is short on cash, and are trying to sell their assets in order to free up liquidity. One very useful option that is often overlooked is to sell the one asset that everyone owns but nobody uses – timeshare options. Almost everyone got suckered into buying these things before the recession hit, and now they find that they have no time to take a vacation because they are too busy trying to hold onto their livelihood.

The timeshares, then, continue to lie unused. After a few months, most owners forget about them entirely.  Clearly, this is not an efficient use of assets. If you have an asset that is not earning you money, it is not being put to the best use that it can. A far better option, then, is to convert your timeshare into liquid cash by selling it. The question is, how does one sell a timeshare? Do you sell it back to the company, or do you sell it to your friends?

Are there places on the Internet where you can try to sell your timeshare options? If you are trying to sell a timeshare, you should know that there are many avenues through which to do so, and some of these avenues are better than others. Your aim is to find the buyer who will offer you the most money, and we will show you how to do so.
The first option is, of course, selling the timeshare back to the firm that sold it to you. This is almost never a good idea – they will generally offer you only a small fraction of what you originally paid for it, and in many cases will not accept it at all.

The next option is to use online marketplaces, where people get together to buy and sell timeshares to each other. These sites are good, if you have time to wait around for a deal – but quite frankly, if you are in a hurry, the best option is to sell it through word of mouth to your friends.

Because getting a mortgage has become so challenging, more and more people are turning towards rent to own homes as an alternative to conventional financing.  Renting to own lowers the barriers of entry and provides a quick and relatively painless way to get into a home.

Unfortunately, most rent to own contracts do not allow you to qualify the $8,000 first time homebuyer tax credit.  The primary reason for this is that a sale must take place in order to be eligible for the tax credit.  Most rent to own home contracts give you the option to buy, but you have not actually purchased the home nor are you in any way legally entitled to do so.

Does this mean that getting a traditional mortgage is the only way that you can legally get your tax credit?  Actually, no!  The only thing that has to happen for you to be eligible for the tax credit is for you to purchase the home.  It does not matter where the funds come from or how the financing is structured.

What this means to you is that owner financing and contract for deed financing can qualify you for the tax credit.  Of course, you probably know that owner financing can be difficult to find, even in a market where most sellers would do just about anything for a quick sale.  The reason is that few sellers want to offer long term financing and even fewer want to run the risk of having to go through the lengthy foreclosure process in the event of default.

The solution?  A properly structured contract that gives the sellers the protections they desire and allows you to legally obtain the federal tax credit.  This means that you get $8,000 and they get a shorter term and a conversion feature in the event of default.  This creates a win-win for both parties.