Due to the poor condition the timeshare resale market, and timeshare industry in general, is in there are many people scrambling to get rid of a timeshare. With the resale market so over flooded with a high surplus of timeshares for sale some owners have resorted to practically giving their timeshare away. There have been many posts on sites like eBay with timeshares going for only $1. While this is certainly a big deal in regards to how much the timeshare was originally purchased for, you should keep in mind this is not the only cost of the timeshare. Timeshares come with additional fees for upkeep and maintenance and even special assessment fees. If you own a timeshare and your name is on the deed you are obligated to pay these charges.
Not only should you be aware of these additional costs that come with the timeshare but you should realize that these fees have the potential to increase each year. Some timeshare owners have had their maintenance fees double or even triple in one year. If you are thinking about picking up a timeshare for cheap on an auction site you might want to think again. Unless you can afford the costs that come along with it a timeshare for only $1 is no sweet deal.