Questions to ask when Buying Timeshare
Buying a timeshare isn't too different than buying a traditional piece of property in that there are many questions you will need to ask and have
answered before you put your money down. There are many different types of timeshares with different values. You will need to know what type of
timeshare you are buying and what amount of time is included in the sale. Fixed weeks are very common as deeded ownerships, purchasing this type
of ownership means that you will have ownership of a specific time during the year. This may or may not be a â€˜fractional ownership' meaning that
you have a certain amount of ownership time in one specific facility. There are some time shares that work on a point system, meaning you don't have
any fractional ownership in any specific property but you have a certain value of points that you can use in any of the resorts held under that timeshare
entity. Fractional ownership means the timeshare owners actually own a portion of the property. The points system involves properties that stay in the
ownership of the timeshare entity. You have no real property value at all, only points per year to use at the facilities. However you will still be charged
monthly, bi monthly or yearly upkeep fees by the facility owners.
Make sure you understand all the fees that you are paying not only in the escrow but also in monthly, quarterly, semi-quarterly or yearly fees. In order
to figure out your ability to own, you will need to know exactly what you are expected to pay and exactly what you are getting for your money.
Don't just buy your timeshare from a timeshare company that pops a balloon to signify your purchase. Find out what the timeshare is worth on the
resale market. Resales are not high value items. Make sure that you are purchasing this as a vacation proposition, not as an investment. Timeshares
do not make good investment properties unless you are the builder or the sales team. That said, research the company you are purchasing from also.
If they have