buy timeshare

Does anyone have any advice on buying timeshare. I am looking to buy in Orlando at Westgate. I have never owned a timeshare.

ravenw wrote:

Does anyone have any advice on buying timeshare. I am looking to buy in Orlando at Westgate. I have never owned a timeshare.

My advice would be to rent a timeshare at Westgate before you buy. Many times you can rent for the cost of the yearly maintenace fees from an existing owner.

Also, if you have never owned a timeshare, you need to sit back and read all you can on the subject before even thinking about buying.

One more bit of advice ... it's much easier to buy a timeshare than to sell a timeshare when the time should come that you can't afford it or want to get rid of it.

jayjay wrote:

ravenw wrote:

Does anyone have any advice on buying timeshare. I am looking to buy in Orlando at Westgate. I have never owned a timeshare.

My advice would be to rent a timeshare at Westgate before you buy. Many times you can rent for the cost of the yearly maintenace fees from an existing owner.

Also, if you have never owned a timeshare, you need to sit back and read all you can on the subject before even thinking about buying.

One more bit of advice ... it's much easier to buy a timeshare than to sell a timeshare when the time should come that you can't afford it or want to get rid of it.

Thank you for the advice, I am going to tour westgate in july.

ravenw wrote:

Thank you for the advice, I am going to tour westgate in july.

Whatever you do, don't let a Westgate salesman talk you into buying from the Westgate. You can get the same unit type for pennies on the dollar on the resale market.

jayjay wrote:

ravenw wrote:

Thank you for the advice, I am going to tour westgate in july.

Whatever you do, don't let a Westgate salesman talk you into buying from the Westgate. You can get the same unit type for pennies on the dollar on the resale market.

Added a few extra thoughts! Just as a guideline for your investigation, I've checked out selling my Westgate TS (2br, sleeps 6, every year usage) . 1) The price to you from a high-pressure sales person at on-site resale, probably $25,000 or more. (Upon reflection, I don't think that our Westgate resort does resales, so you can't even offload a TS onto them.) 2) The resale scam artists say, "They're selling for around $17,000." (When you pressure them to provide real proof that that's what they've sold equivalent units for, they can't come up with it, of course.) 3) On eBay, I'd be VERY lucky to get $4,000. So I'm keeping it, hoping that a hurricane blows it away some year. My advice: 1) Buy a good unit somewhere at a cheap price but with the LOWEST maintenance fees you can find, then you can trade into wherever you might want to go (with enough notice.) Beware of requirements of having to pay your annual fees IN ADVANCE in order to book a unit more than a year ahead. 2) Rent a unit through this site. 3) Buy a good unit through this site--and there's a great selction out there. Make sure it's every-year use. Or even- OR odd-year use at about half the price of every-year use. 4) Buy a unit that you will use without having to incur expensive travel fees to get to. We inherited our unit in Florida and have never used it because we couldn't afford to fly six people there from the other side of the country. (However it's a great unit for trading elsewhere.)

p319 wrote:

Just as a guideline for your investigation, I've checked out selling my Westgate TS (2br, sleeps 6, every year usage) . 1) Price at on-site resale, probably $25,000 or more. 2) The resale scam artists say, "They're selling for around $17,000." 3) On eBay, I'd be VERY lucky to get $4,000. So I'm keeping it, hoping that a hurricane blows it away some year. My advice: 1) Buy a good unit somewhere at a cheap price but with the LOWEST maintenance fees you can find, than you can trade into wherever you might want to go (with enough notice.) 2) Rent a unit on this site.

75% ~ 80% of the money you pay at the Resort goes to marketing.

jamesc371 wrote:

75% ~ 80% of the money you pay at the Resort goes to marketing.

25 to 35% = Actual Construction 50% Sales & Marketing Costs 15 to 25% = Profit (fluctuates by construction cost)

No way can / does 75-80% ever go to marketing. If that was true, construction and profit together would be only 20%, which is essentially impossible, financially.

I have questions about timeshares. I am seriously thinking about buying a timeshare on the beach in my favorite place New Smyrna Beach, Florida. There is a listing on eBay I am thinking about bidding on and the auction ends in less then 24 hours. The cost would be whatever the auction ends at, plus closing cost of about $400.00. It is week 2 for inventory purcpose and floating week 1-52, 2 bedroom, annual mainentance fees are about $425 right now. I have never bought a timeshare before, so I am hesitant to do it. Are these things worth it? There is no way I could stay on the beach for anywhere $425 per year. I could also buy through Redweek for up to $1500 for a 1 bedroom. This is at Islander Beach Resort a very nice place as I have seen it from the outside, while driving by. Can some one please help me to decide. Are these easy to sell if I loose my job, etc and need to get out or am I going to be stuck for the reat of my life? Also, what about RCI, etc. I know nothing about these things, please help! You can also email me at akg55@optonline.net or call me at 201-750-7004 x11217 (work), 914-260-5278 (cell) or 845-364-6092 (home)

Thank you,

Andrea

andrea364 states / asks, in relevant part: >> Are these things worth it? There is no way I could stay on the beach for anywhere $425 per year. I could also buy through Redweek for up to $1500 for a 1 bedroom. This is at Islander Beach Resort a very nice place as I have seen it from the outside, while driving by. Can some one please help me to decide. Are these easy to sell if I loose my job, etc and need to get out or am I going to be stuck for the reat of my life? Also, what about RCI, etc. I know nothing about these things, please help! << ==============================================

I do not know the particular resorts you've mentioned, but the following is universal advice nonetheless:

1. Make sure (directly from the resort, not just from seller claims) that there are no "blackout periods" on float owner reservations. You don't want to find out AFTER purchase that you can't ever even go there during the time frame(s) you WANT to go there.

2. Do NOT buy just to trade. Buy only where you know you would actually like to go. Exchanging is a gamble (and getting to be more and more so all the time) and RCI is (in my personal opinion, anyhow) absolutely the WORST exchange company on Planet Earth. RCI would rather rent out (and ALREADY DOES rent out) the best member-deposited weeks to the general public for big money, rather than making those weeks available to RCI members for "exchange". Much more profit for RCI, of course, but resulting in much less available exchange inventory for RCI members. This is exactly why RCI is currently the defendant in a class action lawsuit (Murillo vs. RCI).

3. Most timeshares are a whole lot easier to buy than they are to sell. It's a non-essential luxury, not a life necessity. Unless this is available and disposable money for you, without borrowing a penny, think long and hard about making the committment. Then again, if you own a decent week in a decent place, you can usually rent out the week for at least (and usually considerably more than) the annual maintenance fee amount in those years when time and/or money might be a bit tight for you.

4. Be careful of eBay "mega sellers" of timeshares. Some have so many auction ads up that they frequently make misrepresentations and very significant mistakes in their descriptions, as they perform their sloppy "cutting and pasting" from one ad to another. It doesn't mean that the errors are deliberate acts of dishonesty, but wrong information is still just wrong information, whether it's intentional or not. You need to know and fully and accurately understand exactly what you are buying. Also be careful of the associated closing companies these eBay mega sellers often force you to use (because they have contracts and /or kickback arrangements with one another). Some of these "closing companies" are slow, sloppy, and some border on outright incompetent. Read and review every single line of every single document for accuracy and return anything with errors for correction of any and all errors BEFORE you sign...

5. Find out from the resort (not from the seller) whether there are any unpaid "special assessments" in place right now, or any others soon pending or imminent. Seller may very well not even know or have any idea whatsoever. This is an unwelcome surprise associated with timeshare ownership, but it happens, particularly in coastal Florida locations which sustain occasional hurricance damage. Even well insured facilities have high "deductibles" --- and owners make up the difference in the form of special assessments when such damages occur.

I hope that some of this helps you. Good luck.

ken1193 wrote:

andrea364 states / asks, in relevant part: >> Are these things worth it? There is no way I could stay on the beach for anywhere $425 per year. I could also buy through Redweek for up to $1500 for a 1 bedroom. This is at Islander Beach Resort a very nice place as I have seen it from the outside, while driving by. Can some one please help me to decide. Are these easy to sell if I loose my job, etc and need to get out or am I going to be stuck for the reat of my life? Also, what about RCI, etc. I know nothing about these things, please help! << ==============================================

I do not know the particular resorts you've mentioned, but the following is universal advice nonetheless:

1. Make sure (directly from the resort, not just from seller claims) that there are no "blackout periods" on float owner reservations. You don't want to find out AFTER purchase that you can't ever even go there during the time frame(s) you WANT to go there.

2. Do NOT buy just to trade. Buy only where you know you would actually like to go. Exchanging is a gamble (and getting to be more and more so all the time) and RCI is (in my personal opinion, anyhow) absolutely the WORST exchange company on Planet Earth. RCI would rather rent out (and ALREADY DOES rent out) the best member-deposited weeks to the general public for big money, rather than making those weeks available to RCI members for "exchange". Much more profit for RCI, of course, but resulting in much less available exchange inventory for RCI members. This is exactly why RCI is currently the defendant in a class action lawsuit (Murillo vs. RCI).

3. Most timeshares are a whole lot easier to buy than they are to sell. It's a non-essential luxury, not a life necessity. Unless this is available and disposable money for you, without borrowing a penny, think long and hard about making the committment. Then again, if you own a decent week in a decent place, you can usually rent out the week for at least (and usually considerably more than) the annual maintenance fee amount in those years when time and/or money might be a bit tight for you.

4. Be careful of eBay "mega sellers" of timeshares. Some have so many auction ads up that they frequently make misrepresentations and very significant mistakes in their descriptions, as they perform their sloppy "cutting and pasting" from one ad to another. It doesn't mean that the errors are deliberate acts of dishonesty, but wrong information is still just wrong information, whether it's intentional or not. You need to know and fully and accurately understand exactly what you are buying. Also be careful of the associated closing companies these eBay mega sellers often force you to use (because they have contracts and /or kickback arrangements with one another). Some of these "closing companies" are slow, sloppy, and some border on outright incompetent. Read and review every single line of every single document for accuracy and return anything with errors for correction of any and all errors BEFORE you sign...

5. Find out from the resort (not from the seller) whether there are any unpaid "special assessments" in place right now, or any others soon pending or imminent. Seller may very well not even know or have any idea whatsoever. This is an unwelcome surprise associated with timeshare ownership, but it happens, particularly in coastal Florida locations which sustain occasional hurricance damage. Even well insured facilities have high "deductibles" --- and owners make up the difference in the form of special assessments when such damages occur.

I hope that some of this helps you. Good luck.

Ken,

Thank you so mcuh for all the help you have given me here and on the phone. I am about to call the resort to ask all these very important questions.

Andrea

ravenw wrote:

Does anyone have any advice on buying timeshare. I am looking to buy in Orlando at Westgate. I have never owned a timeshare.

boxtop wrote:

ravenw wrote:

Does anyone have any advice on buying timeshare. I am looking to buy in Orlando at Westgate. I have never owned a timeshare.

When and if you want to sell your timeshare Westgate maintains right of first refusal but will not acknowledge your offer. Should you go ahead and sell other than to Westgate they will claim non-negotiation with them and place a lien on the timeshare, inhibiting the sale. But if you never sell your unit they do provide a wonderful vacation at their resorts.

I have no personal knowledge or opinion regarding the Westgate company or of any of its properties.

That clearly stated right up front, I will mention that a number of knowledgeable and experienced TUG folks who own Westgate properties have NOTHING good to say about this company. Some actually refer to it as "Wastegate". One fellow (a Westgate owner), says (only somewhat in jest) as a P.S. to all of his posts, that the Westgate slogan is:

"When you want to deal with the worst, we are the best". Food for thought, to consider along with other input...

Then how does one sell a Westgate timeshare?? I checked out the Donate for a Cause site and they have a wide range of Westgate properties for sale at decent prices. If there were problems, wouldn't they refuse to deal in the Westgate properties? Penny ***************************************************************** Does anyone have any advice on buying timeshare. I am looking to buy in Orlando at Westgate. I have never owned a timeshare. When and if you want to sell your timeshare Westgate maintains right of first refusal but will not acknowledge your offer. Should you go ahead and sell other than to Westgate they will claim non-negotiation with them and place a lien on the timeshare, inhibiting the sale. But if you never sell your unit they do provide a wonderful vacation at their resorts.

ken1193 wrote:

I have no personal knowledge or opinion regarding the Westgate company or of any of its properties.

That clearly stated right up front, I will mention that a number of knowledgeable and experienced TUG folks who own Westgate properties have NOTHING good to say about this company. Some actually refer to it as "Wastegate". One fellow (a Westgate owner), says (only somewhat in jest) as a P.S. to all of his posts, that the Westgate slogan is:

"When it comes to the worst, we are the best". Food for thought, to consider with other input.

Actually, I know of only two Tug members (well one is a Tug member, the other is a freeloader and has been for many years .... see guest under his name) keep pounding negatives against Westgate, which has made many Westgate owners unhappy who are paying members of Tug. The freeloader loves controversy and always has.

While there have been personal legal problems with Westgate's CEO, which one Tug poster (the freeloader) keeps beating that drum incessantly, that has nothing to do with how satisfied Westgate timeshare owners are ..... apples to oranges.

The key word in your last sentence is one fellow quoting his slogan. I don't see a mass of owners following his lead, but the man still owns at Westgate. If I hated a resort where I owned that much, I would get rid of it in a New York minute.

jayjay wrote:

ken1193 wrote:

I have no personal knowledge or opinion regarding the Westgate company or of any of its properties.

That clearly stated right up front, I will mention that a number of knowledgeable and experienced TUG folks who own Westgate properties have NOTHING good to say about this company. Some actually refer to it as "Wastegate". One fellow (a Westgate owner), says (only somewhat in jest) as a P.S. to all of his posts, that the Westgate slogan is:

"When it comes to the worst, we are the best". Food for thought, to consider with other input.

Actually, I know of only two Tug members (well one is a Tug member, the other is a freeloader and has been for many years .... see guest under his name) keep pounding negatives against Westgate, which has made many Westgate owners unhappy who are paying members of Tug. The freeloader loves controversy and always has.

While there have been personal legal problems with Westgate's CEO, which one Tug poster (the freeloader) keeps beating that drum incessantly, that has nothing to do with how satisfied Westgate timeshare owners are .....apples to oranges.

The key word in your last sentence is one fellow quoting his slogan. I don't see a mass of owners following his lead, but the man still owns at Westgate. If I hated a resort where I owned that much, I would get rid of it in a New York minute.

I don't disagree with anything you've said above, but I also don't actually ever see much objection expressed on TUG to the negative "Wastegate" postings there.

The current Westgate owner I quoted who obviously so despises Westgate management is clearly well respected by other TUG members. The "guest" on TUG you refer to is a former Westgate owner himself. I certainly agree that he is an "argumentative" sort and a bit of a "know-it-all" as well. Nonetheless, he IS a former Westgate owner.

All the foregoing aside, my intent was just to make a prospective Westgate buyer aware of the observations and opinions of others outside of RedWeek forums regarding Westgate. As clearly stated already, I have NO personal knowledge or experience (or opinion) myself regarding Westgate, and certainly no ax to grind concerning them. Given that timeshare weeks are usually much easier to buy than they are to sell, I think any prospective buyer should assess all the input they can possibly get before buying --- good, bad or indifferent. Or, just to repeat... Food for thought, to consider with other input.

ken1193 wrote:

I don't disagree with anything you've said above, but I also don't actually ever see much objection expressed on TUG to the negative "Wastegate" postings there.

The current Westgate owner I quoted who obviously so despises Westgate management is clearly well respected by other TUG members. The "guest" on TUG you refer to is a former Westgate owner himself. I certainly agree that he is an "argumentative" sort and a bit of a "know-it-all" as well. Nonetheless, he IS a former Westgate owner.

All the foregoing aside, my intent was just to make a prospective Westgate buyer aware of the observations and opinions of others outside of RedWeek forums regarding Westgate. As clearly stated already, I have NO personal knowledge or experience myself regarding Westgate, and certainly no ax to grind concerning them. Given that timeshare weeks are usually much easier to buy than they are to sell, I think any prospective buyer should assess all the input they can get before buying --- whether that input is good, bad or indifferent.

Actually there have been many satisfied Westgate owners that have objected to the continuous bashing by the two people mentioned above on Tug. They have said that they hesitate to post on Westgate threads due to being harrassed by the two argumentative posters as has happened in the past.

Once again, if I hated a resort and it's owner then I would sell immediately. Continously trashing a resort is repetitious and boring. That's what Tug resort reviews are for, not the BBS. The two posters have had their say concerning Westgate ..... it's time to move on.

The freeloader was on a tangent bashing Orange Lake a few years ago and kept the trashing going adnauseum, but he continued to trade into that resort every year.

Why Brian and the moderators let this continue is beyond my imagination. Just look at how the two negative posters concerning Westgate influenced your thinking when you admitted you knew nothing about Westgate but what you read on Tug.

Posts are merely opnions, no more no less.

jayjay has stated: >> Posts are merely opnions, no more no less.<< ==========================================

I agree, mostly. Some posts are pure fact, no opinion.

Once again for the record, I have NO knowledge about, NO opinion on (and NO interest in) Westgate. Others do. Some of those others are current or former Westgate owners, whose opinions certainly count for SOMETHING. In the end, a prospective buyer should weigh and assess any and all available information for themselves, as they may see fit.

ken1193 wrote:

We are using a whole ot of words to basically agree...

:o) touche'