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Buying and Selling Timeshares and Vacation Plans

Buying and Selling Timeshares and Vacation Plans - The thought of owning a vacation home may sound appealing, but the year-round responsibility and expense that come with it may not. Purchasing a timeshare or vacation plan may be an alternative. If you consider a timeshare or vacation plan you must do some homework.

Timeshare Buying and Selling Basics:

Two basic vacation ownership options are available: timeshares and vacation interval plans. You should know that the value of these options is in their use as vacation destinations, not as investments. Because so many timeshares and vacation interval plans are available, the resale value of yours is apt to be a good deal lower than what you paid. Both a timeshare and a vacation interval plan require you to pay an initial purchase price and periodic maintenance fees. The initial purchase price may be made all at once or over time; periodic maintenance fees are likely to increase every year.
 

Before You Buy Timeshares

Before You Buy Timeshares - In calculating the total cost of a timeshare or vacation plan, include mortgage payments and expenses, like travel costs, annual maintenance fees and taxes, closing costs, broker commissions, and finance charges. Maintenance fees can rise at rates that equal or exceed inflation, so ask whether your plan has a fee cap. You must pay fees and taxes, regardless of whether you use the unit.
   

Timeshare Exchange Systems

Timeshare Exchange Systems - An exchange allows a timeshare or vacation plan owner to trade units for a discrete time with another owner who has an equivalent unit at an affiliated resort within the system. Here’s how it works: A resort developer has a relationship with an exchange company, which administers the service for owners at the resort.
   

Selling Timeshare Properties

Selling Timeshare Properties - If you want to sell your deeded timeshare, and a company approaches you offering to resell your timeshare, go into skeptic mode:
   

Timeshare Resale Checklist

Timeshare Resale Checklist - Selling a timeshare is a lot like selling any other piece of real estate. Check with the resort to determine restrictions, limits, or fees that could affect your ability to resell or transfer ownership.

   
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