Timeshare Foreclosure is a term that is highly overused by timeshare developers as a marketing tool in an attempt to make people believe they are getting the deal of the century. In reality timeshare resales are priced way below most so called foreclosure prices.
Most developers resell their foreclosure inventory at the current retail market price as they still have marketing costs to bring people to them for their high pressure sales presentations. When first presenting you with a price for the timeshare they are attempting to sell, it is in most cases way above what they expect you to pay. They bring in a closer who will use all kind of tools to keep dropping the price until they wear you down or make you believe that you are getting an exceptional below market price. Dropping the name foreclosure is one of those tools in their magic bag of tricks.
In the rare case that you might find a legitimate foreclosure, the property can be reclaimed by the previous owner for up to one year by paying the back taxes. Most likely there are other liens or encumbrances that may also affect the ability to get clear title or there may be back maintenance fees that the previous owner may have neglected to pay. Since resale prices are comparable to these foreclosure prices anyway, why not save yourself a lot of time and aggravation and buy a property that can be easily transferred through a 3rd party escrow company without the risk.
Call 1-800-320-2345 and talk to a qualified timeshare broker today!