Timeshare OptionsWhen potential timeshare buyers are determining their purchase options they need to ensure that the unit is large enough that all their needs can be accommodated – or ensuring that it is not too big for what they need. It is possible to obtain timeshares in the form of studios which are able to sleep two people, up to houses that can sleep twelve or more people comfortably in excess sometimes of four bedrooms. Both RCI and II exchange companies for resort directories differ between total or private sleeping capacity.

Another point to look for is whether the timeshare unit can be separated or split. This is commonly referred to as a lock-off or lock-out unit, and it means that the unit is able to be split into separate units or combined to make one large one. An example would be a two bedroom unit which could be used for a week as a two bedroom unit or for two weeks as a one bedroom unit annually. Certain units are what are known as a physical lock-out, and an example of this is a two bedroom unit that consists of separate one-bedrooms that are connected by a lockable door, which is where the term “lock-out” originates. Some other units will consist of two bedrooms and bathrooms with one main living area, and while these might not be classed as lock-offs the resort might still allow them to be converted into two separate units.

You should always ask if there is a fee to be paid to split up weeks, regardless of what kind of unit you may have. You also need to check if a two bedroom unit can be split or converted into two full-sized one-bedroom units. Very often the resorts will approve a split, but the majority of the time the owner will be left with a studio one week and a one-bedroom the following, rather than two weeks in a one bedroom unit.

 
 

A lot of people are aware that buying a timeshare is not a very simple process. Buyers must be extremely cautious when choosing their options, especially when timeshare resales caught their interests. Buying from resort developers is more expensive than buying timeshare resales. Keep in mind that careful research and observation regarding your timeshare must be undergone to find the best result.

Seeing the timeshare itself is a must. A lot of resellers may lure you to their perfect timeshare through their manipulative sales talks. It would be best to see it for yourself and and see if the reseller is telling the truth. Make sure to select a timeshare that you are most interest in. Timeshares, even timeshare resales, are excellent investments.

Resold timeshare prices can be very tempting but you must be aware that these low rates may or may not include hidden costs. Make sure that you are aware of them all including property and maintenance fees. The timeshare’s cost may be a lot more expensive than its base rate when the fees are not paid at the right time.

There is a possibility that some timeshares are under an exchange company. If this situation is applicable to the timeshare you’re interested in, remember to inquire if you can transfer its membership. Going through this transfer will save you from any complications that you may go through in the future. Also, find out if your timeshare is a point-system timeshare and inquire if its points are transferable as well. Additional bonuses with your timeshare must also be taken into account and if they are transferable.

A number of buyers may not be aware of the amount they have to pay when closing the sale. Make sure that you will not be one of these buyers. Resellers may pay to advertise the timeshare but the buyer will have to pay all the closing cost. It is crucial to understand everything you need to pay for.

When you visit the timeshare, looking around is not enough. You must be very observant and learn everything about it. You should be aware if the timeshare has been remodeled or not. It would be very disappointing to end up spending a huge amount of money for a timeshare that has had serious damage in the past.

Another thing that you must be aware of is exactly when you will be allowed to utilize your timeshare. There are different times to utilize a time share. Some may only be used in an odd or even year. If you happen to be interested in a timeshare that includes usage terms similar to this, it is possible that you will only be allowed to use the timeshare after a year or two. Be familiar with its lease as well. You will need to know when it is expected to expire.

Finally, do not forget to find out the reason behind the timeshare’s availability to buyers. Why is that timeshare being sold? It is possible that its reseller simply doesn’t want it anymore. However, there are circumstances when resellers discover damage in their timeshares. This is why you need to be very observant. Knowing everything about the timeshare means being fully informed of both its positive and negative features. If you still want it, despite knowing its negative features, then it’s safe to say that the timeshare will be a worthy investment.

 
 

People owning vacation time shares should be cautious if someone offers to resell it so long as an appraisal fee is paid. The majority of sales programs such as this are bogus. There is no doubt that there is a very real market for resales, but it is not as easy as it seems. In a recent survey it was reported that fewer than 4 percent of time share owners were actually successful in re-selling throughout the past 20 years.

Some underhand companies contact time share owners via mail or telephone with the promise that for a fee of around $300 – $700, payable in advance, they will be able to sell the property for more than the price you paid for it, or equal to that price. Further enticements are offers of $1,000 government bond or money back guarantees if they are unsuccessful within a year. Other companies may offer to buy your time share for around 80-90% of the value it was appraised for if they cannot sell it in a specific time scale.

The reality of the resale market is such that it will depend on the time of year and the location as to whether the time share can be sold. There are complete lists of agents and buyers who do not know of the company and who do not want to buy a time share. This makes it unlikely that they can sell the time share for any price, least of all at a profit. It is also a fact that unsold time share owners will only receive a government bond to the value of $60 – $70, or they may be told their listing fee gives no refunds.

Time share owners should consider the following precautions if they want to resell their time share and are approached by someone offering help:

  • Make no agreements over the phone. Check out the company first.
  • Request written materials from the salesperson.
  • Find out the location of the company and its business dealings.
  • Contact the Attorney General, Better Business Bureau, or local protection agencies in the company’s state. Check with them for any complaints made against the company.
  • Check if the company is licensed for the selling of real estate.
  • Be cautious if there is an advanced appraisal fee charged for the company’s services.

There are several different options for resale, such as trying to sell it yourself through placing ads in newspapers and magazines, or getting in touch with a reputable agent who is familiar in this area. If your development is full of sold time shares, ask the seller if they will be willing to set up an on-site resale office. Or you could consider using an exchange program. These typically charge a fee to allow trades with different resorts.

 
 

Timeshare Auction SellingIn a little over a year and a half, in excess of 20,000 listings for existing and new homes have been advertized on eBay. Of these posts, an average of 1,000 views per property is generated, but viewers cannot tell which postings were actually successful and resulted in a sale. Executives of eBay Inc state that the company does not track concluded transactions. As well as existing and new homes, postings that include land, time shares and vacation homes are included. A person does not need to be rich in order to sell or buy from an on-line auction for real-estate, and it can be the perfect place for selling your time share accommodation.

But should eBay be used to buy or sell a time share, or are the risks too great? Before deciding to choose this route a person should make sure he or she is familiar with all the rules. The usual formats for selling on eBay are not applicable when it comes to selling real-estate. The first thing to realize is that the bid is not legally binding, it is merely an expression of serious interest concerning the possible purchase and is an indication that you wish to move on to final negotiations concerning the property. There is no legal obligation to the seller or the buyer to actually complete the transaction.

While the internet is definitely an effective way to advertize time shares, it has distinct flaws where the actual sale is concerned, and the absence of a legally binding agreement is one of them. In a traditional auction bidders are generally expected to provide a cashiers check as a deposit, and when the gavel is lowered the buyer is committed and the deal closed.

As far as bidders are concerned one of the main questions is if they can be trusted or not. Bidders can be concerned about bidding possibly not being real when it comes to time shares, and too often eBay is not able to give an analysis of properties to allow sufficient diligence on them.
Vacation time shares have been sold effectively on eBay however, and this is probably because the prices on them are much lower than a typical family home, which means there is less financial risk for potential buyers. A one-week timeshare, for example, close to New York City’s Carnegie Hall was recently on the online market for $10,000. Time shares in the past were mostly marketed through publications for the seasonal industry, but now a time share seller is able to list the time share all year round to almost eight million people on a daily basis. This could mean that eBay is the perfect place for sellers and buyers of time shares to connect to each other.

 
 

Donating Timeshare for CharityThousands of timeshare owners try to sell their property every year. Probably the biggest part of these paid a listing company an upfront fee of up to ₤500 to include their timeshare in the company’s listing. A representative of the company often talks owners into listing their timeshare by telling them that the timeshare has a much higher resale value than it really has. After that the seller has to pay the upfront fee, but the timeshare never gets sold because of the excessive price. After one year the listing expires but can be re-listed by paying up to ₤500 again. Most of the time, the seller doesn’t make any arrangements to use the timeshare in the meantime because he expects to sell it. He also has to pay the maintance fees and taxes over the whole period, of course. That’s why timeshare owners often pay exorbitant sums until their property is eventually sold for a considerably lower price than initially expected.

An alternativ to this may be to donate the timeshare for a certain cause. This way, sellers can get rid of their timeshare within weeks without any costs to themselves and get a tax write-off on top (consult a tax advisor to be sure that you are qualified for a write-off). By donating, timeshare owners can capitalize their timeshare (tax write-off) and help charitable organizations. Statistics show that every year up to ₤200,000 is donated to support cancer research, children in the third world and many more. 

Donating your timeshare has several advantages compared to listing your timeshare for sale:

  • The donation process is fast and easy
  • You usually don’t pay anything for the donation process
  • You can get a tax write-off (consult a tax advisor)
  • You don’t have to pay any upfront fees to a listing company
  • You don’t have to pay your maintenance fees and taxes any more

How do you donate your timeshare for charity?

The easiest way is to contact a charity that donates timeshares, tell them which charitable organization you want to donate your property to and which timeshare you want to donate. Most of the companies will do all the required work for you. As soon as you tell them to donate your timeshare, the charity will evaluate your property and determine its market value. Within a few days, they will tell you whether your timeshare has a sufficient value or not. Your property is only acceptable for donation if it is free of any mortgages, liens, loans or outstanding maintanance fees. If you timeshare qualifies, it is sold afterwards and the net profit ist given to the charitable aorganization of your choice.