| There are several key factors you must consider | | | | with how well the timeshare will exchange. |
| in order to avoid overpaying for timeshare | | | | You may not even like the timeshare, but who |
| resales. In this article you'll learn the steps | | | | cares? |
| necessary for you to learn how to minimize your | | | | If it is located in a hotly-demanded area and you |
| costs - yet still buy a timeshare that has powerful | | | | buy inexpensively, it will serve well to trade you |
| exchange value through RCI and Interval Int'l. | | | | into the finest resorts. When you save thousands |
| 1. Understand Resort Ratings. | | | | of dollars by buying it, you can trade for may |
| If you want to get the most timeshare for the | | | | decades before the exchange fees would equal |
| money do NOT insist that the resort be rated | | | | what you saved by buying right in the first place! |
| Gold Crown or 5-Star. | | | | 6. Buy Through a Licensed Real Estate Broker. |
| Contrary to popular opinion, a resort rating of | | | | It can hardly be imagined the number of problems |
| Gold Crown or 5-Star has little to do with | | | | and challenges that come up in performing what |
| exchange power. Why pay more than you need? | | | | would seem to be a very simple transfer of |
| Non rated resorts in high demand areas will trade | | | | ownership. |
| just fine into Gold Crown and 5-Star resorts. | | | | A licensed Broker has a lot to lose if dealing |
| There is a myth out there that you have to own | | | | fraudulently with the public, unfortunately the |
| Gold Crown or 5-Star to exchange for same. This | | | | same cannot be said if you deal with individual |
| is not true. In fact ownership in rated resorts can | | | | sellers or non-licensed companies, so why do it? |
| actually LIMIT your exchange! | | | | Be sure all funds are held in a Trust Account until |
| 2. Buy in a High Demand Area. | | | | closing. |
| By far the single most important factor in | | | | 7. Receive Title Insurance, If it Is Available. |
| determining trade power is location, location, | | | | Title Insurance is available on most deeded |
| location! | | | | timeshare purchases. It is your assurance that |
| Remember that past demand for a particular | | | | you are receiving clear title with no liens or |
| resort is the key factor built into the exchange | | | | judgements attached to the property. |
| company software which determines what you | | | | 8. Verify the Details of Your First Year's Use. |
| will be offered in exchange. | | | | Many misunderstandings in a timeshare purchase |
| Examples of high demand areas are Hawaii, | | | | center around as to when the buyer can first use |
| California Coastal, Palm Springs Winter, Florida | | | | the timeshare, whether the week is banked, and |
| Coastal and Orlando, the Caribbean, Cancun, Cabo | | | | many other details. Whatever your understanding |
| San Lucas, Myrtle Beach, Hilton Head Island, ski | | | | is, have it verified in writing with the exchange |
| areas, - in short, any area that is short of | | | | company, the resort management company, and |
| timeshare space relative to a high number of | | | | the seller. |
| people wanting to vacation in that area. | | | | 9. After the Sale Closes, Verify That the Change |
| 3. Buy Prime Season | | | | of Ownership Gets Done on the Resort |
| If you buy prime season, you won't be restricted | | | | Computer. |
| as to what time of the year you can request to | | | | This is a crucial step, because it is common for |
| exchange - you can request any time of year for | | | | the resort to either take a long time, or forget |
| your destination resort. | | | | entirely to make the ownership change on the |
| 4. Buy in a Resort That Has a Reasonable | | | | computer. |
| Maintenance Fee. | | | | A separate concept not addressed in this article, |
| Since maintenance fees go on forever, don't buy | | | | involves buying where the intention is to primarily |
| in a resort with an extra high maintenance fee. | | | | use the timeshare in a very select upscale luxury |
| (Unless perhaps you can buy truly below | | | | system of resorts, which warrants paying far |
| bargain-basement price.) | | | | higher prices. These and other issues are covered |
| 5. Buy as Inexpensively as Possible. | | | | in the Timeshare Resales blog. You'll also learn |
| Remember that your goal is to minimize your | | | | what the Gold Crown rating means and how it |
| cost; It is easy to lose focus and start assigning | | | | affects your buying logic. |
| importance to features that have nothing to do | | | | |