Timeshare Resales - How To Buy Smart!

Timeshare Resales - How To Get The Best Buy On Weeks To Use For Exchange Purposes.

Key factors to understand in order to avoid overpaying for timeshare resales

In this blog I explain what I have learned in buying, selling, and exchanging vacation timeshare all over the world for over twenty years.

The purpose of this article is to explain how to minimize cost, yet still buy a vacation timeshare that has powerful exchange value through RCI and Interval International.

A separate concept not addressed in this article, involves buying where the intention is to primarily use the timeshare in a very select upscale luxury system of resorts, which warrants paying far higher prices.

1. UNDERSTAND RESORT RATINGS.

If you want to get the most timeshare for the money do NOT insist that the
resort be rated Gold Crown or 5-Star. Contrary to popular opinion, a resort
rating of Gold Crown or 5-Star has little to do with exchange power. Why pay
more than you need? Non rated resorts in high demand areas will trade just fine
into Gold Crown and 5-Star resorts. There is a myth out there that you have to
own Gold Crown or 5-Star to exchange for same. This is not true. In fact
ownership in rated resorts can actually LIMIT your exchange! See article - what the Gold Crown rating means

2. BUY IN A HIGH DEMAND AREA.

By far the single most important factor in determining trade power is location,
location, location! Remember that past demand for a particular resort is the key
factor built into the exchange company software which determines what you will
be offered in exchange.
Examples of high demand areas are Hawaii, California Coastal, Palm Springs Winter, Florida Coastal and Orlando, the Caribbean, Cancun, Cabo San Lucas, Myrtle Beach, Hilton Head Island, ski areas, - in short, any area that is short of timeshare space relative to a high number of people wanting to vacation in that area.

3. BUY PRIME SEASON (Red)

If you buy prime season, you won't be restricted as to what time of the year you
can request to exchange - you can request any time of year for your destination
resort. Both RCI and I.I., the two largest timeshare exchange companies, color-code the prime weeks of the year as "Red".

4. BUY IN A RESORT THAT HAS A REASONABLE MAINTENANCE FEE.

Since maintenance fees go on forever, don't buy in a resort with an extra high
maintenance fee. (Unless perhaps you can buy at a truly below-bargain-basement price.)

5. BUY AS INEXPENSIVELY AS POSSIBLE.

Remember that your goal is to minimize your cost; it is easy to lose focus and
start assigning importance to features that have nothing to do with how well the
timeshare will exchange. You may not even like the timeshare, but who cares
- if it is located in a hotly-demanded area and you buy inexpensively, it
will serve well to trade you into the finest resorts. If you save
thousands of dollars by buying it, you can trade for may decades before the
exchange fees would equal what you saved by buying right in the first place!

6. BUY THROUGH A LICENSED REAL ESTATE BROKER.

It can hardly be imagined the number of problems and challenges that come
up in performing what would seem to be a very simple transfer of
ownership. A licensed Broker has a lot to lose if dealing fraudulently with the
public, unfortunately the same cannot be said if you deal with individual
sellers or non-licensed companies, so why do it? Be sure all funds are
held in a Trust Account until closing.

7. RECEIVE TITLE INSURANCE, IF IT IS AVAILABLE.

Title Insurance is available on most deeded timeshare purchases. It is your
assurance that you are receiving clear title with no liens or judgements
attached to the property.

8. VERIFY THE DETAILS OF YOUR FIRST YEAR'S USE.

Many misunderstandings in a timeshare purchase center around as to when the
buyer can first use the timeshare, whether the week is banked, and many other
details. Whatever your understanding is, have it verified in writing with the
exchange company, the resort management company, and the seller.

9. AFTER THE SALE CLOSES, VERIFY THAT THE CHANGE OF OWNERSHIP GETS DONE ON THE RESORT COMPUTER.

It is NOT standard procedure for most sales companies to
follow through and verify that the buyer actually gets put on the resort
computer as the new owner. This is a crucial step, because it is common for
the
resort to either take a long time, or forget entirely to make the
ownership
change on the computer.

It is my sincere desire that the principals discussed here will help you as you join me in enjoying the wonderful world of vacation timeshare, and that you will be able to get a fantastic buy that will be perfectly suited to your family's vacation needs.

Help for Timeshare Buyers