Monday, 4 October 2010
Orlando tiempo compartido
Friday, 1 October 2010
A Guide To Your Timeshare Rights
One of the biggest reasons why many people fall into the trap of scammers and frauds is that they do know their legal rights when buying a timeshare. It is always a good practice to know your rights when you are signing any contract or agreement. As with any other industry timeshare industry is also prone to unscrupulous tactics by some people. Everyday you hear a story of somebody being duped into buying a timeshare and the property doesn’t even exist or in some cases, is not up to the standard and what they were promised. We here these horror stores and we should learn from these. Here are few things that you should remember while buying a timeshare.
To understand our rights let us understand different types of timeshare plans first. They are basically of two types. A deeded and title timeshare and the second one are right to use also as called license to use timeshares. A deeded and title and ownership means the buyer owns the timeshare and acquires a specific facility for a specified length of time each year, for a specified number of years (generally 40 years) and a deed. A right to use timeshare means the buyer has the right to acquire all the above mentioned things except the deed i.e. title. A deeded timeshare is inheritable whereas a right to use timeshare is like a lease which expires after certain number of years.
Timeshare industry has also acquired the reputation of used car industry in terms of selling tactics they use. It starts off with an invitation to a presentation offering you an expensive gift. When you actually go there it turns out to be a pressure selling session of a used car dealer who doesn’t want you to go out unless you sign a paper. And the expensive gift also turns out to be a mere gimmick. And the people have to go through the trauma of sitting through the presentation which goes on for two hours also sometimes, full of pressure selling tactics. But as per the law the people are supposed to be informed about the length of the time they have to sit before receiving a free gift. Also they must be informed about the physical condition of the facility. The timeshare companies are also legally not permitted to misrepresent the market value of the timeshare property. They are also not supposed to misinform you about the resale or exchange potential of the timeshare property.
The law also prohibits the timeshare companies from not including the oral promises that were made before the purchase of the property in the written contract and also including any kind of fees that were never ever mentioned orally. The rules may vary from state to state. Some states also have a cool-off period usually of two weeks to allow you to cancel your contract should you change your mind.
Apart from these rights one should also consider things such as do you really want to buy the timeshare? Did u check out the facility? Did you contact the better business bureau? Did you talk to existing owners in the timeshare property? Do you plan to rent it? Do you plan on reselling it? Do you plan on exchanging vacation sites frequently? The answers of all these questions should be found out before making a final decision about buying a timeshare. PPPPP
Word Count 562
Monday, 27 September 2010
The Facts On Timeshares
Although the concept of timeshares is not new to the public still people have many questions about timeshares. Few of the most important frequently asked questions that people enquire about are discussed as follows:
Is renting a timeshare better than buying it?
Buying a timeshare gives you much bigger choices. As an owner of the timeshare you get the amenities are better and cost much less. Owners can get discounts on lodging, entertainment, food, travel and many other resort facilities. The average rental fee is way higher than the average maintenance fee and is also increasing every year. In addition to all the above benefits a timeshare owner has equity in the property which can come to the advantage of the owner when he wants to sell it.
Is buying a timeshare good investment?
Many people get this question in their minds whether to buy timeshares as an investment. The answer can be disappointing to you because it has been seen that the value of the timeshare depreciates with time and they can go do as much as 30%-50% depending on the location and season. A timeshare should be thought as an investment in life, for guaranteed vacations and better facilities. Also if you compare the cost of owning a timeshare with a hotel in long term period, a timeshare would save you a lot of money.
Can you rent your timeshare to somebody else?
Sure you can as long as you are the legal owner of that timeshare meaning you cannot rent out a timeshare that is received in exchange.
What is the procedure of making an exchange?
Most timeshare companies have business network with timeshare companies and you are automatically enrolled into exchange program and also the fee for the first year is paid by the timeshare developer in most cases. You can also go to the timeshare exchange company and put your timeshare for exchange. But keep in mind few things like you will get similar kind of unit meaning you can’t expect to get a two bedroom timeshare in exchange of a one bedroom. Also plan in advance if you plan to exchange timeshare as it may take a while depending on the availability. Also remember there is a fee for exchanging timeshares.
What are fixed week and floating week?
In a fixed week plan you are entitled to use your timeshare only at a specific week each year and specific unit. But in a floating week you have the option of choosing a range of week but only on first come first serve basis as many owners would like to do the same thing. The advantage of a fixed week is that your timeshare week is assured and also the unit you want. While floating week is advantageous to people who have schedule conflicts with fixed unit timeshare.
Are there any other additional fees when you buy a timeshare?
The answer is yes. Typically there is a maintenance fee and other fee like transfer fee if you are transferring a timeshare. There may be property tax also.
Should I have to pay any upfront fee while buying/selling a timeshare through a broker?
The answer is strict no. Experts say never every pay an upfront fee to buy or sell or rent timeshare. Like any other industry timeshare industry is also prone to many scammers and frauds. There have been instances where people paid huge upfront fee and they got nothing in return.
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Word Count 579
Saturday, 25 September 2010
Other Options To Selling Your Timeshare
Many people simply buy timeshares thinking that they would be able to take out some time from their busy schedule and go for vacation. But many end up not using their timeshares at all. So they start considering selling their timeshares. But if you think selling a timeshare is as easy as any other real estate property then you are completely wrong. Selling a timeshare is real pain in the neck taking several months to sell. Even when it finally sells, it sells at 40%-50% less than the original price. You might think is it really worth selling your timeshare or is there a better alternative to selling it. The answer is yes, there are alternatives to selling your timeshare. We discuss those in detail in the paragraphs to follow.
One of the best alternatives to selling a timeshare is to rent your timeshare instead. You can either work this out with your timeshare developer if he can do it. The developers usually have special classifieds for timeshare, it would be a good idea to put an advertisement in those classifieds as they target people interested in timeshares. You can also search for a real estate agency specializing in renting timeshares or vacation homes. Most popular travel destinations have agencies that specialize in this. But remember there can be a fee if you choose to rent your timeshare through a real estate agency. You can also sell your timeshares by yourself by either advertising directly in classifieds or telling your friends, neighbors, family members and colleagues to see if anyone is interested in buying a timeshare. If not, internet is the best place to find out where you can put your timeshare for rent. There are many popular auction sites like eBay which has timeshare rental section on their auction website.
Another alternative to selling your timeshare is timeshare exchange. Timeshare exchange is getting popular with many people facing problems with fixed schedule. And also many people get bored of going to the same place over and over again and they want a change. Timeshare exchange enables them to exchange their timeshare unit with similar unit at other timeshare location and at different time. Most timeshare companies have this facility and offer free exchange in the first year and charge a free from there on. But you can also go directly to a good exchange company and place your unit for exchange. But you have to remember that you can trade in only similar units only. You can’t trade in a one bedroom for a two bedroom. Also you cannot rent the exchanged timeshare to somebody else. You may also be charged a fee for this service and you will get a timeshare in exchange depending on availability.
Last but not the least, instead of selling your timeshares why not donate your timeshares to a charity if you don’t want to for through the hassle of selling, paying huge upfront fee and much more. The donation is just like how you donate your cars, boats or stocks. Donating your timeshares to charity is tax deductible. But be sure to donate it to a right charity organization who can utilize its full potential. You can compare this with any losses you may incur if you sell your timeshare, donating a timeshare could bring you a handsome tax deduction.
Wednesday, 22 September 2010
An Overview Of Timeshare
A time share is a name given to a piece of property shared among number of owners. This involves use and cost of maintaining the property. Although the majority of the timeshare properties are condominiums resorts but it will not be a surprise if you find a hotel timeshare or a motor home timeshare or a cruise timeshare or a campground. The choices are increasing by the day. The idea of a timeshare property originated in Europe in 1960s when the property rates were skyrocketing and it was impossible for people to afford a full time vacation house. But by sharing the ownership the burden of maintenance and other costs on single person were greatly reduced. These also boosted the fortune of real estate developers as they were able to successfully market and sell the properties to a greater number of people. But a key point to remember in timeshare properties is that a timeshare is owned by a number of people who have no relation to one another like a standard home ownership.
A technical definition of timeshare property is that an owner has specific time to share you own in a property. But as more and more properties are being converted into timeshare, flexible timeshare options cannot be ruled out. The flexible timeshare offers owners the option of choosing more than one timeshare destination and also more than one specific time of a year.
Timeshare properties are usually found in warm destinations like Florida where people like to vacation a lot. They can also be found in cold weather areas near ski resorts. The timeshare properties are typically furnished in full and usually have one to three bedrooms, multiple bathrooms, a kitchen and a living room. It may not come as a surprise if you find timeshare properties with indoor or outdoor pools. They have become a common feature of most timeshare properties nowadays.
The typical duration of a timeshare ownership unit is one week. Depending on what time of the year you own the timeshare the price may vary. For example, a timeshare property in the month of April in Florida will be much higher than in August. So the rates may vary with varying season and demand. Some resorts give color coding to different seasons depending on the demand. For example some resorts term high demand season as red season meaning the prices of the timeshare will be highest in that season.
Timeshares can usually be inherited to your children like any other real estate property. Timeshare offers not only a great vacation but also great investment. Most people rent their timeshare to others when they do not use their timeshare. This has a double advantage. You earn rent also along with appreciation of the property with passage of time. Timeshare properties are exchangeable and tradable with other properties in most of the cases. While it may be easy for the owners of the red season timeshares to exchange their unit with other owners in any season it might be impossible for owners of low season timeshare owners to get a high season timeshare unit in exchange.
Timeshares can be purchased through financing also but mostly the resale properties purchased from individuals are paid in cash. The cost of maintenance, management and cost to maintain common areas like pools and tennis courts are paid by timeshare owners. Fees may vary and always make sure to find it out before buying a timeshare.
There are many types of timeshare properties. A fixed unit, fixed week, deeded timeshare allows you to own a specific timeshare at a specific time each year. A floating time agreement allows you to be flexible about the dates that you can use your timeshare. But reservations may be only first come first serve as many owners would like to go for that option. Right to use timeshare is a leased timeshare. You no longer have rights to the property after the lease expires.
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Word Count 665
Sunday, 19 September 2010
Otras opciones para vender su multipropiedad
Thursday, 16 September 2010
Purchasing A Timeshare Through An Auction Websites
While many people still go through traditional method of buying timeshares i.e. through timeshare brokers or real estate companies the trend of buying timeshares through internet auctions is catching up. We hear many horror stories about people being scammed into buying timeshares which do not exist or sometimes are not up to the quality that they were promised or in wrong location. And these stories cannot be ignored because the number of people that have been cheated is unusually high and increasing by the day. And imagine yourself sitting in a presentation given by timeshare companies to prospective buyers. It is a traumatic experience as you will be subjected to sit for many hours and pressure selling techniques of the timeshare companies. They wouldn’t let you go unless and until you give some of commitment or sign some papers. All these happenings lead to the emergence of internet auction sites for timeshares. Now the buyers have the freedom from those unscrupulous sellers who adopt illegal techniques to sell their timeshares. Popular auction sites like eBay.com and bidshares.com allows users to buy and sell timeshares through their website. Although there are many other websites for timeshare auctions eBay.com and bidshares.com are the most reliable and safe websites to conduct timeshare auctions. These sites charge absolutely no upfront fee either to put your timeshare on sale or to bid on timeshare sales. They only charge after the bid is successful. When bidding on a timeshare few points have to be kept in mind. Try to establish communication with the seller as soon as possible and know whether the seller is responding well to your queries or not, if yes how soon and whether he is giving you the complete information or not. Internet auctions are also not fool proof against scammers and frauds, so beware of them. The above practice would eliminate few of the possibilities of you being trapped in some kind of scam. But it doesn’t mean at the same time that if the seller is not responding he may not be a genuine seller. Some people are not good at written communication; in that case making a phone call to enquire about the timeshare unit is not a bad idea. One more important point to remember while bidding on a timeshare is to do your homework in advance by finding out complete information about the property. The details would include name and location of the property, number of bedrooms, number of bathrooms, Exchange Company’s name that seller’s resort deal with, the date by which the property is ready to use, annual maintenance fee of the resort, and sizes of bedrooms and is there any assessment this year. Also do research about the selling price of similar units sold recently in that location. Do not hurry whether you lose or hurry, there may be a better property in waiting for you. Also it is not a bad idea if you determine the mode of payment before hand by contacting the owner. Although there are many methods of payment available a seller may have a specific preference. Also be watchful if the owner is not responding to this question. Also the auction websites provides seller ratings, feedbacks and transaction history. This very important to you as you ma y not want go to a seller with bad ratings or feedbacks. Also if you miss a bid by a whisker say $10, don’t be discouraged you may contact the seller that you are ready to buy the unit just in case if the winner retracts his bid. Even if it doesn’t happen you may get another unit if seller has multiple units. But never agree to pay over your bid price which defeats the purpose of an auction which provides an open platform for fair and reasonable bargaining but within the jurisdiction of the system adhering to the rules and regulations. PPPPP Word Count 654
Monday, 13 September 2010
Los hechos El tiempo compartido
Friday, 10 September 2010
Gua'�a de compra para la reventa de multipropiedad
Tuesday, 7 September 2010
How To Sell Your Timeshare
Many people would agree that reselling a timeshare is not as easy as buying one. You get loads of invitations in mails; get courtesy calls and emails to attend a timeshare presentation. They offer you bounties and favors in return for attending a presentation. Why all this? To convince you buy a timeshare. Buying is as easy as making a simple enquiry and many companies come knocking to your house to sell a timeshare. But, have you ever wondered is selling a timeshare as easy as buying one? The harsh truth is “no”. Reselling a timeshare can be a real pain in the neck. That is why many experts advice not buy timeshare as an investment. It is never going to rewards you with the returns of a real estate property. It is an investment in your life, dreams but not for financial returns. True that many people buy timeshare with the intention of vacationing only but certain unforeseen circumstances may force some timeshare owners to resale their timeshare unit. So this article is exclusively for those people and may a lso benefit others also who are contemplating selling their timeshares due to reasons such as change of taste, family has grown and you no longer want to go to the same location etc.
1. Check with the timeshare developer who sold you the timeshare. Sometimes the developers offer the original buyer an option to resell their timeshare back to the developer. If not find out if your timeshare is associated with a licensed broker handling timeshare resale.
2. You have to be realistic in your expectations. Do not expect wonders. It is a bitter truth that timeshare properties do sell at less than their original price. Not only that, it may be difficult to resale as well especially if it is in a not so popular destination, is a small unit for example a studio and if the time of use is in an off season. It might be a challenging task to sell a timeshare like the one discussed above. But in case of a property which is located in popular vacation destinations, is reasonably big and offers usage during peak season might sell easily. But again even if the property sells it might sell at 30-50% less than its original price. So be prepared mentally about that, think that it is like your car which depreciates with each passing year.
3. Make sure you do your home work first. Research the market well to know about the prices. Also know what you are selling by thoroughly studying all the documents. Try to ascertain whether your property is a deeded property or right to use one. Some right to use property values decrease considerably when they approach their expiry. Knowing all these facts makes you knowledgeable about your timeshare and helps you in reselling the property with confidence.
4. List your timeshare with a real estate agency. There is no dearth of online and traditional brokers. But do enquire whether there is any upfront fee for listing the advertisement or commission on sale of property. You may not want to go with a broker who charges very large upfront fee or commission. You can also list your timeshare in classified ads offered by many timeshare developers. The latest trend that is catching up is to list your timeshare for auction on sites such as e-bay which lest you develop your own ad campaign with your own ideas.
5. Do not fall prey to scammers who might dupe you by offering quick resale of your timeshare. Never believe their promise to resale it quickly as we have discussed in detail earlier how touch it is to resale a timeshare. There is no guarantee whatsoever that your timeshare might resell in a specified time period.
6. Also do not commit to any offer on phone. Do make decisions in haste. Take your time to make a decision and to come to a conclusion whether to accept the offer or not. Also request the offer in writing and also obtain written contract.
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Word Count 685
Saturday, 4 September 2010
Adquisici�n de Inmuebles a tiempo compartido en los sitios web de subasta
Wednesday, 1 September 2010
Populares lugares de Tiempo Compartido Resort
Saturday, 28 August 2010
Popular Timeshare Destinations
Everyone would think that top timeshare travel destinations would only be in coastal states like Florida, North Carolina, Cancun (Mexico) and South Carolina. But you would be amazed to find that even places like Nevada, California and Minnesota are vying to occupy the top timeshare destination spot. Also the rocky mountain states of Arizona and Utah are also not far behind. Each of these destinations has some special traits which attract visitors from all over the world. Not to forget the kind of amenities these destinations offer which makes them a crowd puller. Talking of Florida, one destination that immediately strikes everyone’s mind is Orlando. It is considered to be the most favorite family destination in the world. Home to some of the world’s largest and most popular entertainment companies it has number of wonderful theme parks to surpass the expectations of families across the globe. The unlimited and impressive list includes Disney World Resort, Universal Studio's Universal Orlando Resort, Sea World Orlando and Islands of Adventure. Millions of tourists around the world are overwhelmed by the joy and excitement offered by these resorts. Daytona Beach is also one of the world’s most famous beaches with nearly twenty three miles of beach front. It offers visitors a chance to experience sailing, surfing and jet skiing. Many competitions take place round the year here. When thinking of vacationing who can forget Cancun, Mexico which is know for its white sandy beaches, great weather, bright blue sky and outstanding hospitality. One can get attractive timeshare packages and vacation discounts here. Next on the list is Hilton Head Island, South Carolina. This destination is popular for its mild climate round the year. It offers excellent golf courses and cruises with the experience of watching dolphins. One of the main attractions of Cancun is the swim with dolphins feature and interactive aquariums. It is also home to many world class resorts. It also offers best of night life with many bars serving free drinks also. Nearly four million visitors pay visit to Cancun every year. One can never ignore California when it comes to tourism industry. While Anaheim is home to Disneyland providing greatest excitement and pleasure and offering great discount on timeshare accommodations one cannot return without visiting San Francisco and experiencing its magic. The list of attractions include Fisherman’s Wharf ,Ghirardelli Square, Coit Tower, the mansions of Pacific Heights, world’s biggest Chinatown outside Asia, Union Square, world renowned landmarks like crooked Lombard Street. Night life is one of the greatest. One can go hiking also in Muir Woods and taste world’s greatest wines. Cable rides, Pedi-cabs, Pier 39 etc. there is fun unlimited in San Francisco offering you the complete experience of your lifetime. Las Vegas, Nevada is not far behind any other timeshare destination as it offers visitors the 360 degree of entertainment. It is second to none in providing the ultimate in fun and excitement. It is the casino capital of the world and wouldn’t be wrong to call it the night capital of the world. Whatever one can think of, Las Vegas has it and that too the greatest of them all, big hotels, big casinos, big convention halls, big malls and what not. You only some good cash in your wallet if you visit this place and rest assured you will get the fun of your lifetime. PPPPP Word Count 563
Thursday, 26 August 2010
Una visi�n general de Tiempo Compartido
Monday, 23 August 2010
Exchanging Timeshare
Timeshare exchange is one of the primary reasons of buying a timeshare for many people because this gives them the flexibility of exchanging their timeshares with other owners principally to visit a different tourist destination each year. Earlier timeshares were not exchangeable. Slowly and steadily things started changing. With the advent of technology and better management tools available today more and more timeshares have the inbuilt feature of timeshare exchange. Though not all timeshares may be exchangeable, it is better to enquire this before buying a timeshare. Most timeshare developers have tie-ups with timeshare exchange companies, so when you buy a timeshare you are automatically enrolled into timeshare exchange program. The fee for the first year is usually free but you may have to pay the fee from the second year. A timeshare exchange gives the owner freedom to vacation at any time of the year unlike only at a specific time. Also it gives the freedom from going to the same unit every year. The way it works is the owner trades his/her unit with owners of different timeshare and different resort. But most of the times there is a requirement that the units should be similar means you can’t trade one bedroom with a two bedroom unit and vice-versa. A timeshare can not only avail the exchange service through the timeshare developer but can also go directly to a timeshare exchange company. But care should be taken to select a right exchange broker. Do your homework first by researching well about the background of the broker. The timeshare industry is not fully protected against non-scrupulous acts by scammers and frauds. Do not pay huge fees or sign any document unless making sure you are doing the right thing. A timeshare exchange member usually deposits his/her timeshare unit into the inventory of the timeshare company’s available weeks. It is not a simple transaction. If the week requested by an owner is in the inventory and the week offered by the owner is a good exchangeable week then the exchange takes place. It does not mean that the owner has to wait until the time the exchange company finds an exchange offer for your timeshare. They already decide it after reviewing the timeshare like what season timeshare it is? What location? Those who have timeshares in peak season have more chances of finding a timeshare and they can request exchange both in peak time and off peak time periods. The owners who have off peak timeshares usually get off timeshares, their chances of getting a peak season timeshare are almost zero. But this may vary from resort to resort. Some resorts may be busy all round the year. The owners in these kinds of resorts generally have no problems exchanging timeshares. If a person cannot find an exchange the exchange company puts you in the waiting list and contacts you whenever an exchange is available and gives you the exchange unit. The owner can also chose in the beginning of the exchange request whether to approve the exchange confirmation at the approval of the owner at least a week before the confirmation or to go ahead and confirm the exchange without the approval. Again keep in mind good planning is necessary to initiate an exchange. If you decide to exchange a timeshare in the last minute, it may not be possible. PPPPP Word Count 563
Friday, 20 August 2010
C�mo vender su multipropiedad
Tuesday, 17 August 2010
How To Rent Out Your Timeshare
Many timeshare owners know how difficult it is to sell a timeshare. But not many timeshare owners know how difficult it is to let your timeshare for rent. The truth is many owners do not take a right approach to rent their timeshares to interested people. A wrong approach can not only increase your net loss on renting but also in some cases your unit may remain unoccupied without being rented. But if you adopt a right strategy and approach you can minimize this liability to a great extent. Basically there are two approaches which are discussed in the following paragraphs.
One approach is to go to your timeshare resort and tell them to let your unit for rent. Although it looks like an easy option which saves us from the hassle of advertising. But timeshare resorts typically charge a fee for renting out the unit. The resort pools the rental income with other timeshare owners. The resort then splits the income if the unit was not rented for a whole week. This is the reality and timeshare resorts tell its owners before hand not to expect the unit to go for whole week of rental. It can be either 2or 3 days or 3or 4 days or rarely may be a week. And worst thing about renting through the resort is its whopping 30-40% commission which is a great loss for the timeshare owner. Let us do a quick calculation of numbers. If you rent out the unit for $150 per night and assume that someone is renting it for 3 days. So three day total rent should be $450. If the resort charges a commission of $150 then you are only left with $300, which is your net rent. Now if you pay $400 in annual maintena nce your net loss will be $100. Now you got to question yourself is this really worth it? Obviously the answer will be no. Let us forget for a moment that you want to make a profit on your rental but at least you don’t want a loss also or to be practical, a minimum loss.
Now let us look at other option of going through a broker to rent your timeshare unit. When I say broker beware, like any other industry timeshare industry is also susceptible to scammers and frauds. Make sure that the broker is a licensed broker and specializes in timeshare rentals and sales. A reputed name will be a safe bet in this regard. Ok now, you went to a licensed broker and he charges twenty five percent commission which is little better than your resort company. There was a huge rush of people to rent their units. You wait for a week, for two weeks and now months have gone by and still there is one to rent your timeshare. Now you have to pay your annual maintenance fee, you feel that you have not done enough to manage your rental property properly. You now consider other options.
The other option is to market your timeshare property by yourself which is the best and most reliable option. What are the available options? You can either put an advertisement for rent in classifieds of newspapers or through the classifieds run by Timeshare Resort which targets the right people i.e. those who are willing to rent a timeshare. The other option is to put your unit on auction sites such as eBay and bidshare.com. And keep in mind that your timeshare will be listed in travel section but not real estate. You have to be preapproved by square trade which can take up to five days. The square trade will also need a proof of the ownership of the timeshare unit preferable deed or the maintenance bill. After this the unit is placed on auction on the website. Remember to be cooperative to the bidders and answer all their queries and give them the complete information about the unit. Your timeshare unit could go as close as your maintenance fee and thus less loss. The bottom line of renting your timeshare is to never to expect a profit on the rent but only less loss.
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Word Count 701
Saturday, 14 August 2010
Lista de verificaci�n para la compra de tiempo compartido
Wednesday, 11 August 2010
Tips On Buying A Timeshare
Every individual waits for that time of the year, a much deserved time off from the hectic activities of day to day life. And when the time comes you keep wondering where to go? Where to stay? Etc. And each time you think I should have planned it out before itself. Smart people plan their vacations long before they actually go out for one. And even smarter people buy timeshare property for vacations to have a peace of mind and a place where they love to enjoy and cherish most beautiful memories in the comfort of your home like atmosphere. Everyone wishes to have a timeshare property at their favorite vacation place. While it may be easy to buy for some, but for some it may be their lifetime savings or hard earned money. So, nobody would like to invest their money in a losing proposition. Here we discuss some of the important things that you have to remember while buying a timeshare.
The first thing to do before buying any timeshare is to understand the types of timeshare. There are basically two types of timeshare plans. A deeded plan, in which you actually buy a piece of real estate property and own it along with other owners but, you can use it only according to the timeshare agreement. A fixed unit, fixed week, deeded timeshare allows you to own a specific timeshare at a specific time each year. A floating time agreement allows you to be flexible about the dates that you can use your timeshare. But reservations may be only first come first serve as many owners would like to go for that option. Right to use timeshare or a non-deeded timeshare is a leased timeshare. Again it is classified into fixed unit and floating time just as in the case of deeded timeshare. You no longer have rights to the property after the lease expires.
Before investing in a timeshare do your homework about the location first. Do a good research about the location, whether you can go there on a yearly basis. Also it wouldn’t hurt if you research the prices of other alternative accommodations in that place. If you are paying for the timeshare then why buy timeshare if an alternative costs you less. But at the same time you should weigh in your comfort factor also. The alternative accommodation might not provide you with the same comfort as the timeshare accommodation. So, it all depends on what criterion is important to you, cost or comfort.
Always find out your timeshare rights before buying. Your rights may be violated in some cases. In most of the cases the timeshare properties are governed by legal documents known as Covenants, Codes, and Restrictions. It establishes rights for real estate property owners and governs how the timeshare should be managed.
Also important thing to consider before buying a timeshare is to decide whether you want to buy it for vacation purpose only or as an investment. If you want to buy it as an investment you should rethink. Timeshares are not one of the most lucrative properties for reselling. Generally timeshare properties don’t have good resale value and the resale is also difficult due to competition from the original seller himself.
While you may think that the cost of buying a timeshare is simply the cost of buying only the real property. You may be wrong. Because you should always calculate the total cost of time share which includes mortgage payments, maintenance fees, taxes, travel cost, closing cost, broker commissions, financing charges etc. That will definitely raise your hair. Compare the cost of alternative accommodation with the total cost of owning a timeshare now. Go with whichever is cheaper.
Also do not forget to read each and every document carefully before signing any agreement. Never ever believe on promises made by word of mouth. Request everything in written. Also find out about the reputation of the seller and whether he is a licensed timeshare seller. Also never accept properties with unfinished facilities, if you do so take a written commitment from the seller that they would be finished within a specific time frame.
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Word Count 699
Sunday, 8 August 2010
Informaci�n sobre Impuestos sobre Inmuebles a tiempo compartido
Thursday, 5 August 2010
Tips On Getting Out Alive From A Timeshare Presentation
Have you ever attended a timeshare presentation? I wish you would never attend one. It is traumatic experience sitting through a timeshare presentation. Compare it to buying a used car from a dealer; this is even more frustrating experience as more money is at stake here. What is a timeshare presentation? It is nothing but a sales pitch by the timeshare companies to force people into buying their timeshares. It begins with an invitation offering you an expensive free gift in return of attending the presentation. Now you go to the presentation thinking that there is no harm in attending and you get a free gift also in return, but you realize that you have made the biggest mistake of life only when you sit through the painful presentation. The expensive gift turns out to be a gimmick and you are subjected to sheer pressure tactics of selling. The presentation usually last for ninety minutes and may go on and on in some cases. After the presentation, the salesperson will encircle you and will ask you if you have any questions. They go to the extent of literally pressurizing you. They want you to either make a commitment or sign a paper before leaving the presentation. When you say constant no to him, the manager will approach and offer you a good deal. Sometimes it becomes very hard to resist the temptation after being offered such great deals. But you have to go mentally prepared to say no to them at any cost. Tell them clearly that you have already spent your precious time and can’t spare your time further. Say that you have an appointment with somebody and you have to leave immediately. And do not forget to take your gift before leaving the presentation after all that was the reason why you attended the presentation. The salesperson and the managers would do their best to convince you to sign some papers by offering many offers, but you should stick to your resolution to not to fall into the trap by constantly saying into your mind that “no, I can’t afford to buy a timeshare” and “will I be able to make payments every month”. Politely say “no” to any offers however attractive it may look. Also say them that you need time to decide, take their contact number or fax number and tell that you will notify them about your decision. Also tell them that you would not tolerate any courtesy calls or emails. You can also tell them that you already have a friends or family members in that timeshare location and you don’t need to buy a timeshare. Also another reason you can give them to escape is that you just came to the presentation for the free gift or you can also say that you just wanted to educate yourself about timeshares and it is too early to make a decision about buying a timeshare. You can also say that you are not one of the frequent vacationers and would be able to vacation year after year and even if you go for a vacation you don’t like to go to the same location every year. Also say that you are not in the financial position to invest in anything now or in near future. Thus we have seen it all depends on our mental setup to sit through a presentation and still survive it.
Monday, 2 August 2010
¿Tiene sentido comprar un tiempo compartido vacaciones?
Friday, 30 July 2010
Consejos sobre la compra de un tiempo compartido
Tuesday, 27 July 2010
What To Look out For When Buying A Timeshare
Buying Timeshares can be rewarding for many people. It might be a money wheel for some. Last but not the least; it can be a profitable investment for many. But the story doesn’t end here itself. While many people may reap the rich benefits of timeshares there are several others for whom the timeshare investment was nothing more than a mere fraud and dream resorts turned into nightmares. Thus investing in a timeshare should always be done with high alertness and caution. Before signing a contract or a check always weigh in both the benefits and the risks involved. If proper precautions are not taken these money spinners can turn into money losers. Always read the finely written statements before signing a contract.
The timeshares are basically classified into deeded and non-deeded plans. In a deeded plan, an individual buys an ownership in a piece of real estate property. The owner usually gets the title of the property and the property is also inheritable to the heirs of the owner. Where as, in a non-deeded plan or right to use plan, an individual buys a lease, a club membership or a license that lets you use the property for a specific amount of time each year and for stated number of years. But in both the cases the cost of the unit is directly proportional to the season of the year and length of time an individual wants to buy. The rights of the timeshare owner ceases after the lease expires in right to use timeshare.
Every individual takes adequate care while making a major investment. And this applies in the case of buying a timeshare also. You must read all the documents carefully and understand fully what you are getting for your investment before signing any agreements or paying any fees. A professional advice might also be critical involving big timeshare investments. So take expert advice from people who have bought timeshare before or your attorney. Here is a checklist of what all people should consider before buying a timeshare property.
? If you are buying a timeshare from a timeshare resale company verify that they are licensed brokers. Easy way to verify this is by asking the license number of the broker. Then you can verify that with the State Department which deals with these kinds of transactions and know about the history of the broker. Be vigilant when you are buying a timeshare from a non-licensed firm, your money would be at stake as the non-licensed firms wouldn’t have much to lose, so greater chances of fraud exist. ? Keep in mind that timeshares are for personal recreational use and do not expect profit or loss. A resale of timeshare may or may not reap good return. ? If you are buying a right to use timeshare watch out, if the sponsor declares bankruptcy, you may lose your rights. ? If you are buying a timeshare in a property where the facilities have not been fully installed take a written commitment from the seller that they will be finished in a specific amount of time. ? Any claims made by the seller about the returns on the investment in timeshare should be questioned because the future value of a timeshare depends on many factors. ? Do not get impulsive when buying a timeshare. Read each and every paper thoroughly. Take adequate time in researching, analyzing and making a decision to buy a timeshare. ? Never believe in the word of mouth, neither on phone or face to face. Request everything in writing especially the promises that were made orally. ? Try to find out whether the exchange program will be guaranteed or not. Sometimes it isn’t. So make sure to find it out before buying. Buying a timeshare without an exchange program is not worth the money because you will get bored going to the same property every year and also you will not have the flexibility of schedule if you don’t have exchange facility.
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