Buying a worldwide timeshare can be confusing and many people don't know where to begin. I hope some of the following helps. Owning a timeshare is a significant financial investment in terms of your family's future holidays rather than your finances so it is important not to make mistakes.
Simply, you can either buy from new or invest in a resale timeshare property.
Many people find when buying a timeshare, they do so from new. This is often following a timeshare presentation. This is frequently followed by a visit to the resort or resorts of choice that involve some quite heavy sales tactics by the representatives. If you are serious about buying, this may be a good thing but never forget to do your own research. You should also get independent financial and legal advice before you proceed with anything. Remember to ask the company what their cancellation policy is as well as you may have a heavy charge if you cancel after walking out the door.
You may also use timeshare brokers to act for you. Brokers act as a go-between by matching sellers and buyers and sometimes dealing with the transfer of funds. Please note, there is no real need to pay any fees up front. If they say they have a property that is ready to go, then why would they need a deposit until paperwork is produced anyway? If you are asked for a deposit then I suggest you go elsewhere.
You can also contact resorts directly as this may be a little cheaper by cutting out the middle men. Try the independent websites that merely put buyers and sellers together either for new or rebuys.
You should also contact resorts if you are buying second-hand, check online sites such as Redweek.co.uk and even EBay. As usual, be very careful with such large sums of money over the Internet. You may be honest, but others may not be. Use Escrow or similar to help protect yourself. A good specialist legal professional can give you some guidance on dealing with payments.
When financing a timeshare your options include releasing equity from your permanent home, getting a specific timeshare loan or a standard bank loan. Don't entertain any finance deal offered by a timeshare company on face value, as these are often a bad deal. If you are told that the price is dependent on you making a decision then and there, it is wise to assume it's a bad deal! If you need finance, it is also worth considering whether you can afford a timeshare in the first place as your costs don't just end at the purchase and will include at least maintenance costs.
In summary, however you decide to buy your worldwide timeshare, do extensive research, use independent and specialist advice and check out all financial options. Being careful will ensure a smooth purchase and many happy vacations in the future!
Simply, you can either buy from new or invest in a resale timeshare property.
Many people find when buying a timeshare, they do so from new. This is often following a timeshare presentation. This is frequently followed by a visit to the resort or resorts of choice that involve some quite heavy sales tactics by the representatives. If you are serious about buying, this may be a good thing but never forget to do your own research. You should also get independent financial and legal advice before you proceed with anything. Remember to ask the company what their cancellation policy is as well as you may have a heavy charge if you cancel after walking out the door.
You may also use timeshare brokers to act for you. Brokers act as a go-between by matching sellers and buyers and sometimes dealing with the transfer of funds. Please note, there is no real need to pay any fees up front. If they say they have a property that is ready to go, then why would they need a deposit until paperwork is produced anyway? If you are asked for a deposit then I suggest you go elsewhere.
You can also contact resorts directly as this may be a little cheaper by cutting out the middle men. Try the independent websites that merely put buyers and sellers together either for new or rebuys.
You should also contact resorts if you are buying second-hand, check online sites such as Redweek.co.uk and even EBay. As usual, be very careful with such large sums of money over the Internet. You may be honest, but others may not be. Use Escrow or similar to help protect yourself. A good specialist legal professional can give you some guidance on dealing with payments.
When financing a timeshare your options include releasing equity from your permanent home, getting a specific timeshare loan or a standard bank loan. Don't entertain any finance deal offered by a timeshare company on face value, as these are often a bad deal. If you are told that the price is dependent on you making a decision then and there, it is wise to assume it's a bad deal! If you need finance, it is also worth considering whether you can afford a timeshare in the first place as your costs don't just end at the purchase and will include at least maintenance costs.
In summary, however you decide to buy your worldwide timeshare, do extensive research, use independent and specialist advice and check out all financial options. Being careful will ensure a smooth purchase and many happy vacations in the future!
About the Author:
Learn more about owning a worldwide timeshare. Stop by Miles Vitnar's site where you can find out all about timeshare financing and how it can help you.
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