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Timeshare Resales FAQ's

 

You  have questions?... the most asked questions and answers here!

 

Q. Besides the purchase price are there extra fees involved in the purchase of a timeshare?

Yes. As in all property transfers there are fees involved. There is a document processing fee, recording fees, transfer taxes, postage and in some cases resort transfer fees which are paid to the Resort you are purchasing your timeshare at.

 

Q. What if I change my mind?

With all purchases through a licensed Real Estate company a cool down period is necessary. Should you change your mind within the Five days of signing the purchase order, the licensed Real Estate firm who will handle your purchase and sale will refund you in full, any money that you have paid to them.

 

Q. After seeing your listings, there are a number of resorts we are interested in. How do we proceed with the purchase of one or more of these resorts?

You would contact us and we will answer any questions or concerns that you may have. We will then have the Real Estate firm prepare a contract for purchase.  You would return the signed contract with the agreed upon deposit to the Real Estate firm to be placed in a brokers escrow account and the transfer process would begin.  The process will be the same initially with multiple sales, but may be much different depending on the requirements for each resort.

 

Q. What if I want to see the resort before I purchase?

We encourage our customers to be as familiar with the programs they are purchasing as possible. However, our inventory changes on a daily basis and we cannot guarantee the membership will still be available unless you make arrangements with us to hold the property for you.

 

Q. What is a maintenance fee?

The maintenance fee is an annual charge from your home resort, on top of your initial purchase cost, that goes toward the upkeep of your timeshare. Your maintenance fee usually covers management fees, employee’s to do the maintenance, insurance, utilities, telephone, and all property upkeep such as furniture, carpets, and the common facilities of the resort.

 

Q. What is a transfer fee?

A transfer fee is a cost that resorts charge to transfer ownership from one party to another. This fee is determined by the management of the resort and will vary from resort to resort.

 

Q. What sizes of accommodation is available?

Sizes of accommodation vary, but as a rough guideline the accommodation is broken down by bedroom number and how many adults they sleep. Here is the breakdown:

Studio Sleeps a minimum of 2 People

One Bedrooms Sleep a minimum of 4 People

Two Bedrooms Sleep a minimum of 6-8 People

Three Bedrooms Sleep a minimum of 8-10 People

 

Q. What is a fixed week?

A fixed week is ownership of a specific week each year. The first week of the year will be designated as week #1, and the last week of the year will be week #52. Usually, fixed weeks are assigned to a fixed unit as well.

 

Q. What is a floating week?

Floating week means that the week you own is not a fixed week. A floating week guarantees you one week within a certain time period. Each year, you will contact the resort and reserve the week during your season that you would like to use. If you plan on exchanging your floating week, you may need to make a reservation before you deposit your week with the exchange company. read more...

 

Q. What is a point system?

A point system is a vacation ownership program in which you own points that represent the quality of the unit you will have. More points translate into larger accommodations, and better trading power. For example, a low season studio unit may take 1,000 points to reserve the time, but a high season two bedroom unit may require 30,000 points.  Most systems will allow you to borrow from future years or to carry over unused points to the next year.

 

Q. What is a deeded property?

A deeded property is one in which the property title does not expire, or ownership in perpetuity. Once you own it, it's yours until you decide to sell it, much like home ownership. Deeded properties may also be passed to your heirs. 

 

Q. What is leased or certificate property?

A right to use your timeshare for a specified number of years. Some resorts may allow for accelerated usage, which means that you will have a specific number of weeks you may use, but you may use more than one week per year.

 

Q. What happens after my certificate expires?

In most instances you will be offered an opportunity to extend your membership and purchase additional time for a price, but this will vary from resort to resort. Otherwise, the membership will be placed back on the market by the management company to sell to someone else.

 

Q. What is life property?

A. A membership, which allows usage each year during the owner's lifetime.

 

Q. How soon after purchase will I get my deed/certificate to the property?

The usual time varies from resort to resort.  We have seen these take from 30 days to just under a year. Some counties just take longer to record and process transfers.  Our Real Estate firm will try to keep you informed about the circumstances and any situation, which may cause a delay in transfer.

 

Q. Can I ever sell my timeshare?

Yes. Once you are the legal owner of a timeshare week, you may sell it at any given time.

 

Q. How soon may I use it after purchasing?

As soon as the ownership has been transferred into your name, you may contact the resort and they will have you in their owner database. The exchange company associated with your resort can be contacted to start active participation once you are in the resort database.  The exchange company will contact the resort in insure you are indeed an owner.

We hope these answers help you! If you don't find the answer you're looking for, please contact us!

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Email - tsresale@ptd.net

 

WorldWide Timeshare Resales