Timeshare sales

What does it mean when the asking price is $0? Is this a give away or is there a mortgage to be assumed?

It means that the seller is giving it away to get out from a lifetime of ever increasing maintenance fees and hard to book reservations. Corporate greed has turned timeshare ownership into nightmares for many owners. They increase fees at their pleasure and decrease availability for the owners . My advice to anyone considering purchasing a timeshare or points is to rent instead. Why commit yourself to a lifetime of fees when somewhere down the road your life may change and these fees become a burden that you cannot handle .

johnd385 wrote:

What does it mean when the asking price is $0? Is this a give away or is there a mortgage to be assumed?

Yes, it's a giveaway. Of course, closing costs and transfer fees would have to be paid and that would have to be negotiated between the seller and buyer. And if there is a mortgage still owing on the unit, the seller would have to disclose that to the buyer and the mortgage would have to be settled before the transfer from seller to buyer can take place.

Just bear in mind what Don P said. The new owner is responsible for maintenance fees and possible special assessments. In many cases, the fees exceed what a decent rental could fetch so, in other words, you can probably rent a week from a current owner for less than what you would pay in maintenance fees. If you're confused or unsure, try renting at least once to see if timesharing is for you.

It means the owners want to get rid of the timeshare probably due to the maintenance fees. BE careful of who is doing this though - ask for a copy of their original contract with the resort and call and check if you are thinking about buying the timeshare. CHECK maintenance fees - they are going up and up so be careful of what you buy.

Considering purchasing a timeshare at the Avila Resort in California. In looking at the listings, I noticed that they were based on a points system through Diamond Resorts. What does this mean in regards to actual cost?

julios14 wrote:

Considering purchasing a timeshare at the Avila Resort in California. In looking at the listings, I noticed that they were based on a points system through Diamond Resorts. What does this mean in regards to actual cost?

Actual cost of what? There's the purchase price which could be anywhere from $0 to thousands. Then there are transfer and closing costs which can be a couple hundred or thereabouts. Then the real killer is the annual maintenance fees. Ask the current owner from whom you are planning to purchase what the maintenance fees are.

On top of that, there are possible special assessments that could come up at any time.

does the $99 fee include recording the deed?

Renee -

The sales price usually does not include closing costs and transfer fees. You would need to contact the owner directly to find out if the buyer pays these fees (which is typical) or if the owner is willing to split the fees or pay them.

If you have further questions, please Contact Us .

Phyllis

Has anyone had any success in selling their points through Redweek or is this just another facet of the time-share ripoff world.

Points are a rip off. What happened is that fixed and floating time were not bringing in enough revenue to the timeshare owners so they came up with this new scheme to make money. Further the timeshare groups such as RCI and II opted in as they make money too doing the "point" system.

Points are any easy way to sell, sell, sell and folks were not discriminating enough to think about what they were being offered. With points you cannot have a fixed time to go somewhere but have to settle for whatever the resorts and timeshare exchanges were offering. Getting points to allow you to at holiday times were really expensive! So you were at their mercy. Kine of like airlines and their point systems to get seats on a certain flight.

PLUS they do NOT have to guarantee you a certain time like fixed time used to be. If you bought Christmas or Easter time, they had to guarantee your time - with points they do not.

Timesharing is a changing industry with groups buying up timeshare for $0. and then renting them to people much like a hotel would rent a room. RCI is infamous for this. We used to give them Christmas and New years weeks for two bedroom units and all we could get is off time studio units. RCI is a rip off. Folks are wising up, groups like RED WEEK are educating consumers and many are going in now to purchase with eyes wide open. RED WEEK is your best bet for getting a unit, renting a unit or selling a unit.

Hope this helps!

fredm145 wrote:

Has anyone had any success in selling their points through Redweek or is this just another facet of the time-share ripoff world.

What type of points and are you looking to get rid of them permanently or just a single use (renting points)?

You did not answer the question. Has anybody had any success in selling their points using Redweek?