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Timeshare Buyer FAQ

Timeshare Broker Sales answers your Frequently Asked Questions about Buying Timeshare.

We want you to be informed timeshare buyers. Before you buy timeshare from Timeshare Broker Sales, or anyone else, learn how timeshares work to enhance your ownership experience and maximize your investment. Read on for some of the most Frequently Asked Questions about Buying Timeshare.

What are Timeshares?

When you buy timeshare you receive the exclusive right to vacation at a specific resort for a given amount of time. Timeshares’ major advantage is that individual owners do not bear the cost of year round vacation-property ownership; instead the cost is divided among multiple owners, making timeshare resales especially budget-friendly.

How Do Timeshares Work?

Generally, timeshare owners purchase one-week intervals at the resort of their choice on an annual basis. In today's industry, "timeshare" may mean deeded property ownership, "Right-to-Use" ownership or a points-based vacation-club. Timeshare Broker Sales can help you determine which is best for your family based on your budget, vacation needs and lifestyle.

Is Timeshare Right for Me?

If you and your family vacation regularly, timeshare ownership may be for you. Timeshares provide spacious accommodations in some of the most highly-desirable destinations in the world. Timeshares can be especially convenient if you travel with the whole family or a group of friends. The most popular timeshare units offer fully-furnished two bedroom, two bath villas with a full kitchen and spacious living room.

Because timeshare ownership provides weeklong vacation accommodations on an annual or biennial basis, timeshares are a great option for families who vacation often. However, if you seldom vacation, 'timeshare resort' ownership may not be for you.

If you've been held back from vacations due to scheduling conflicts or time-commitments, a flexible points-based timeshare can be the perfect option. Many points-based programs allow owners to escape for, say, a long weekend, a number of times a year. Our experienced timeshare brokers will be able to help you meet your vacation needs based on your lifestyle.

Are Timeshares Flexible?

Yes! One of the major benefits of timeshares is their exceptional flexibility. With exchange companies like Resort Condominiums International (RCI) and Interval International (II), and vacation clubs like Hilton Grand Vacations Club, Marriott Vacation Club and Starwood Vacation Ownership, owners have the option to exchange their intervals (or weeks) for another, at one of thousands of affiliated resorts across the globe.

How Do Exchange Companies Work?

Most resorts are affiliated with an external exchange company like RCI or II. Additionally, many resort-companies (like Westin Vacation Ownership) offer internal-exchange programs. RCI and II are the two most popular, and therefore expansive exchange companies; with several smaller exchange companies offering specialized services.

Most exchange companies require an annual membership fee for their services, plus fees to complete the exchange. If you do not plan to use your timeshare week for the coming year, exchange companies can “space bank” your week for up to 3 years, for later use. Most exchange companies offer a myriad of travel benefits and vacation planning services. Between them, RCI and Interval International easily transact more than a million timeshare exchanges each year; so it is easy to see how popular this benefit of vacation ownership is.

What is a Timeshare Point System?

Many resort companies sell timeshare intervals, then assign a point-value based on the size of the unit, season, and location (view). These points are assigned annually, and are treated as a form of currency.

This allows the owner to be completely flexible, from a one-night stay a few time a year to an annual week-long escape. Purchasing points also often allows the choice to travel to one of hundreds of affiliated resorts. Finally, points can often be used toward other vacation-oriented products, such as rental cars, cruises and hotel nights.

There are also points programs available that do not have an underlying specific real estate interest. These highly-flexible timeshare points-programs are often referred to as vacation clubs.

Fixed, Flex, Float - What are "Timeshare Use Periods?"

Based on a standard timeshare calendar, owners can purchase timeshare a number of ways.

A fixed timeshare program gives the owner the right to occupy the same week every year at a resort.

A floating program, at most resorts, refers to an owner having flexibility to reserve a week within a certain season, based on availability.

There are also variations of these programs, known as "flex time," which refers to a specific season you can “float” in. Floating allows you to reserve a week at least at the level of season you own (ie. Platinum), or below. With flex, you must stay within the season-level you own.

Biennial ownership simply means that your week is available every other year, usually stated as an “even” or “odd” year.

What is the Difference between a Five-Star Resort and a Gold Crown Resort?

Most timeshare exchange companies assign different ratings to the resorts they represent. A Five-Star Resort timeshare is the most desirable rating appointed to a resort in the Interval International (II) system, while a Gold Crown Resort is the highest rating assigned to a resort in the Resort Condominiums International (RCI) system.

What about All These Colors?

A color system is used by many resorts and exchange companies to place a rating on the desirability of a particular timeshare week. Reference to a “Red” week is always most desirable (prime season), then white-yellow, followed by blue-green (off-season).

Some resort companies also use Platinum, Gold, Silver and Bronze (respectively) to rate their seasons. When exchanging, you are guaranteed a like-kind color rating if available.

As an Owner, What Other Costs Can I Expect?

Owners will pay a percentage of real estate taxes owed by the resort. They will also pay a percentage of the maintenance fees for upkeep and improvements, and administration costs for management and staff.

According to the American Resort Developers Association (ARDA), these fees averaged $646/per interval of ownership in 2009. Your Timeshare Broker Sales licensed agent will be able to provide this information in greater detail for the specific property and interval you wish to purchase.

Why Are Timeshare Resales So Much More Affordable?

Resort companies spend a great deal of money on sales, marketing, and promotional incentives to entice consumers to visit the venue, and take the “tour," driving the overall price of your vacation property purchase up by thousands. Additionally, the timeshare resale market is inherently competitive and price driven, offering savings of 30-60% off resort pricing.

Since in most cases, a deed is transferred, all the benefits of ownership transfer as well, representing a great value to you. Search our timeshare listings and see how much you can save!

Who Pays Closing Costs?

For most transactions, the buyer will assume the closing costs, with the seller paying the commission to the broker (if applicable). The closing costs include administration fees, deed preparation, escrowing funds, estoppels certificate, closing statements, recording fees, and delivery of documents.

You can expect to pay $400-$700 for a domestic purchase, dependent on the resort transfer fee. Purchases outside the US need to be priced separately. If you desire/require title insurance, you can expect to pay an additional $150-$300 for the policy.

Who Handles Timeshare Closings?

For most timeshare resale transactions, a deed is transferred from seller to buyer. The resort is a “third party” to the extent that most resorts have a First Right of Refusal to complete the sale. If the sale is allowed to proceed, then the resort provides an estoppels letter with instructions to clear the seller’s account of any delinquencies.

Closing documents are prepared by closing companies, specializing exclusively in timeshares, and are licensed and bonded to hold escrow. Our closing department coordinates this activity with the closing company to complete the deed transfer. The resort is notified, ownership is transferred, and congratulations are then in order! And, we’re here to ensure your timeshare transfer goes as smoothly as possible, from selecting the perfect property to closing safely and securely.

Why Choose Timeshare Broker Sales?

Timeshare Broker Sales is a licensed REALTOR®, and a BBB Accredited Business. We are timeshare resale specialists for Premium timeshare resorts.  Most importantly, we are a name you can trust.

We have a complete inventory of timeshare resales available at deep discounts; and timeshare buyers find our hands-on, personalized service invaluable. For more information about timeshare resale, please visit our timeshare basics page or call us, today!

Contact us Toll Free at (800) 985-9946, and see what our clients are raving about! There is a difference hands-on service our brokers provide. Let us help you buy that perfect timeshare vacation on the timeshare resale market, and see how much you can save.