Timeshare Resale Frequently Asked Questions
Are you thinking about buying a timeshare? Read through our timeshare resale FAQs for helpful tips when buying a timeshare on the resale market. Learn about the different types of ownership, the advantages of timeshare resale, and how to start the buying process.
Do you have your own questions about timeshare resale? Our timeshare specialists can help. Give us a call at 1-844-202-7611.
Frequently Asked Questions from Timeshare Buyers
What are the advantages of buying a timeshare resale?
Many first-time buyers purchase timeshares directly from the resort simply because they are unaware that the same properties are available on the resale market, often for thousands of dollars less. Timeshare resales are vacation properties which had been previously purchased from a resort, and which are now being resold by the current owner. The reason that resale timeshares are significantly less expensive is that individual owners do not have to cover the extravagant marketing promotions and commissions that the resorts do. Think of a timeshare like a new car; as soon as you drive it off the lot, its value drops significantly because the dealership marked up the price to cover its own expenses. A timeshare resale works the same way, except that instead of losing actual value like a car (by adding mileage, wear and tear), the only thing that is different between a resort timeshare and a resale timeshare is the price.
If I buy a timeshare, how much vacation time will I receive?
Timeshare ownership is designated by “intervals,” which is why it’s also often known as interval ownership. A standard timeshare interval is seven days, and most owners choose annual usage with one interval. Other options for ownership include:
- Biannual Ownership: allows the owner two intervals per year
- Biennial Ownership: entitles the owner to one interval every other year
- Triennial Ownership: entitles the owner to one interval every third year (very uncommon)
An increasingly popular form of timeshare ownership is points-based ownership. When you buy a points-based timeshare, the interval will outline how many points are included and what they are equivalent to at the resort. Points required for travel will vary by resort and unit size. This newer form of timeshare ownership allows members to visit different resorts within a vacation network, as well as to split the points to increase the number of trips taken. For example, a resort may require “1000” points for a one-week stay in a two-bedroom lockout, but enable owners to split those points into two 500-point weeks in a one-bedroom unit.
What are the different types of intervals and the differences between them?
If you own a fixed week, then your usage always falls during a specific week every year. A week number will designate your particular week (from 1 to 52). As a fixed interval owner, you typically reserve the same vacation week and unit each year.
Floating weeks usually fall within a particular “season” or time frame at the resort that may be determined by the literal season or the demand at the resort. Owners of floating weeks must call their resort during a reservation period, and may choose to reserve any week that falls within their particular season. Reservations are usually on a first-come, first-served basis.
Should I buy a timeshare resale or join a vacation club?
Vacation clubs are very similar to regular timeshares in that there are still contracts and annual maintenance fees. One of the advantages of joining a vacation club or of buying a club membership through timeshare resale, is that you can visit a variety of resorts in addition to your “home” resort property. Many vacation clubs operate internal exchange programs so that their owners can visit any resort within their system. Often owners are allotted “points” which can be redeemed for weeks within the club’s network. Like normal timeshares, vacation club memberships can be sold on the resale market and rented out with guest passes. However, by purchasing a vacation club membership on the secondary market, you can receive significant savings.
What is an exchange company?
RCI and Interval International (II) are the two major timeshare exchange companies. These companies allow owners to trade in their points or week(s) for use within their extensive networks of affiliated resorts. This allows for more variety in the locations to which you can travel – plus you still get the same high quality accommodations.
Why do I have to pay maintenance fees on my time share resale?
Whether you buy timeshare directly from the resort or you purchase a resale timeshare, you will have to pay a maintenance fee. The purpose of this fee is the maintenance and upkeep of the individual unit which you co-own, as well as the general upkeep and beautification of the resort and grounds. These costs are split among all the owners of an individual unit as well as all the owners at the resort. While most maintenance fees are paid annually, some are paid monthly, quarterly, or biannually. When you are searching through our selection of resale timeshares, keep in mind that maintenance fees will vary by resort.
What is the difference between Deeded and Right-To-Use ownership?
Deeded and Right-To-Use (RTU) are the two most common forms of ownership available to timeshare buyers. Deeded ownership means that you hold a title and own a portion of the resort’s property. With RTU you do not hold a title; rather, you own only the right to use the property, much like a lease or membership. With both deeded and RTU timeshares, the owner has the option to sell, rent, or bequeath the property. RTU contracts usually designate a set number of usage years before the contract expires, a date which does not change if the “property” is transferred to a new owner. Be sure to keep this in mind if you purchase RTU time share resales. A deeded timeshare is a perpetual contract that will not expire.
How to Buy a Timeshare
If you have any more questions about buying a timeshare resale, do not hesitate to contact us today. Whether you are interested in buying a timeshare by owner or you would like the assistance of one of our licensed timeshare resale brokers, we are standing by. Call us now at 1-844-202-7611.
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