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Re: Buying resale timeshares (by Mike C.):

Thanks for the reply and information jayjay. I have another question or two. Before I submit a bid on the unit, how can I be sure that the Owner is telling the truth regarding things like "It's a platinum week" etc. What if he says that, I submit a bid and win, and then the documentation shows otherwise? Is there something I can ask for to "prove" it before I bid? I asked the Owner in an e mail, and his response was "It's a little early in the negotiation for that". Also, he asked me what kind of offer I had in mind - I plan on offering the minimum bid, as no one else has bid on this in the last auction or so far this one, so I figure he is not getting much interest. I did not answer him, as I also wonder if he can have someone (a relative or something?) bid up the price.

jayjay wrote:

You are right to look for a timeshare on the resale market ... you can save a ton of money. I've never bought a timeshare from Bidshares but I've sold a couple there. I like Bidshares, along with Redweek and MyResortNetwork ... 3 of my favorite resale ad sites on the internet.

There shouldn't be any problem with the transaction as long as you use a reputable closing company. I don't know what closing company Bidshares advertises, but I would certainly think it would be legitimate.

After the seller sends a copy of his deed to the closing company they will then handle all of the paperwork such as drawing up a new deed in your name, transferring the ownership into your name at the resort and holding all monies in escrow until the transaction is complete.

If you search 'closing companies' in these forums, you can find others that are also recomended.