Yes, it's true: You can find timeshare bargains online.

When most people think of buying timeshares, they think of the "old-school" methods: buying through timeshare brokers or real estate agents. However, more and more people are finding that there are many timeshare deals to be found online--especially in online auctions. timeshare companies have embraced this medium, as have private individuals.

However, it's important that you exercise caution. There are stories almost weekly about someone who fell victim to an online scam: buying a timeshare that doesn't exist or that is far below the quality that the average person would expect. Here are some tips for getting the best timeshare deals online.

1) Do your homework. It's easy to get caught up in the excitement of bidding in an auction, and many people wind up paying more than the timeshare is actually worth. Before you bid, find out what similar units in the desired area are going for. Then make your bid appropriately.

2) Most of the good auction sites have followed eBay's lead of offering a feedback system. Be sure to use them. Never buy a Timeshare from someone unless his feedback score is almost perfect. Remember that when a person is leaving feedback, if they were even moderately satisfied, they tend to give the person a perfect score. It takes deliberate effort and thought for a person to leave a negative score, so think carefully about buying property from someone who has even a few negative marks.

3) Ask questions. There should be a feature on the site that allows you to send messages to the sellers or timeshare companies. If you have any doubts whatsoever about what you're bidding on, ask. And if the person does not respond to the email, this should send up warning flags in your mind.

4) If someone else wins the auction, but you believe (or know) that your bid was in second place, send the seller a message offering to buy the timeshare if the winner does not follow through. The folks at TimeSharePilgrim.com believe you would be surprised how many times the winner will simply vanish--and how many times the seller would be willing to sell to the runner-up, if he expresses an interest. This can be an excellent way to get a great timeshare deal, below what you might expect to spend.

5) Learn patience. Whether buying a timeshare or anything else in an auction, many people get in this mindset of feeling like they have to buy now. They therefore bid more than they should, or settle for a property that doesn't quite meet their needs rather than wait. If you decide to find a timeshare deal via online auction, allow yourself a couple weeks to find and win one. This way, if you don't find one that suits you today, you can look again tomorrow--and then the next day, and so on. And if the bid on a property goes more than you want to spend, that's fine; you can try again in a couple of days.

Follow this strategy for finding your timeshare online and you're more likely to be satisfied with the results.