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View Full Version : How are Timeshare Sales executed ?



Smacken
06-28-2008, 01:41 PM
Does anyone have a quick process explaination of
buying someones timeshare ?

I have spoken with a current owner and have
Name, Address, phone #'s, week details etc. But still a bit nervous.
Should I be ?

Wondering about title's and deeds and such.

Fell in love with paradise a few weeks ago and
really want to have a little bit of it for a week a year.

Thanks in advance.

Steve

qlaval
06-28-2008, 06:59 PM
Go on http://www.tugbbs.com/forums/ to learn about Timesharing, this place is a must...:)

cindyo
06-28-2008, 07:53 PM
Maybe if you tell us what location you are thinking of therer might be some owners out there that can give you very specific info....
We own at the Renniassance which has their own set of rules and timeshare stuff. My suggestion is post the place and members will "find You" so to speak.

dogwriter
06-29-2008, 02:30 PM
We just purchased at Casa Del Mar and the paperwork is in progress. Purchased from owner, face to face, needed to get deed signed and notarized from seller and buyer and sent to CDM. They are sending new user's agreement, deed and application. We sign and return. They countersign and send official deed. Process is long, but we are listed as owners already and have banked this year to double-up next summer.:)
Walt

danadog56
06-29-2008, 09:39 PM
just listed a title share company on another question,,,,http://timesharetitle.com
You can either pay a research fee and they make sure all documents are in order or just use them as a middleman to pass money and title back and forth....very reliable...

Smacken
07-04-2008, 01:24 AM
Thanks DD,
I completed an on-line contact form with them early on 4-2-08.
Haven't had any response from them at all.
Would have expected at least an electronic acknowledgement
of having received the form and info.
Even an automatically generated one. Hmmmm
I'll let you all know.

Hope I don't miss my chance in paradise.
Feel bad for the seller. He must feel like I'm stringing him along.

S

skompa
07-05-2008, 09:12 PM
I have recently sold a few timeshares to try generate some income to pay for my son's medical expenses. (didnt make a dent into our over million dollar bills, but i can now afford to send them a hundred a week so they dont report me to the collection agency.)

There are different procedures for different places. I have used First American Title Insurance Agency. They do these everyday. They are very helpful. They hold the money in escrow until it settles and then send you a nice check. The settlement fees are only a few hundred bucks.

https://www.vacationfirst.firstam.com/

They are recommended by redweek.com too.

aruba here I come
11-09-2009, 12:19 PM
I have been going over the thought to buy some time share in aruba:plane:, Just looking for some info that might be helpful. Have been doing some searching but...:doh:

1) Where would you purchase/not purchase time share?

2) Do you perfer flex/floating/or a set week? and Why?

3) Can they be financed? What is the going rate for financing? how long do they finance for?

4) If you do have time share, if you dont use it, hard to rent? or do you just bank it?

5) any fees involved in transfer from one owner to another?

6) I see that some are 99yrs (what I would perefer) and 20 years, does that depend on the place or other?


anything eles you can think of that might be helpful would be great...
thanks in advance!:D

cindyo
11-09-2009, 12:29 PM
I have been going over the thought to buy some time share in aruba:plane:, Just looking for some info that might be helpful. Have been doing some searching but...:doh:

1) Where would you purchase/not purchase time share? We own at the Rennaisaance

2) Do you perfer flex/floating/or a set week? and Why? Set week, we know tha airlines, its school vacation for us. We get to travel with the same people and know lots of other travelers at our resort that way.

3) Can they be financed? What is the going rate for financing? how long do they finance for? We paid cash

4) If you do have time share, if you dont use it, hard to rent? or do you just bank it? This site offers lots of options as to renting out. NO, not hard to rent if you get the "right week". you can also join rental places that will do it for you, RCR and intervale. Redweek.com also handles rentals. You state the price.

5) any fees involved in transfer from one owner to another? Fee's involving transfering of weeks for high to high season, and change of week. Varies by location I believe.

6) I see that some are 99yrs (what I would perefer) and 20 years, does that depend on the place or other? Depends on the place...deeded vs not, etc. I don't know the answer to this one..


anything eles you can think of that might be helpful would be great...
thanks in advance!:D
Check on maint. fees, that varies by location and by what "needs" to get done to the place...ie: new furniture, new ac, etc...impt to know.
Additonal acessments, one time charges, meetings of owners and updates from association, etc...
I am sure others will chime in because I am certainly not an expert.


My answers are in RED...cindy

Bill
11-09-2009, 12:35 PM
3) Can they be financed? What is the going rate for financing? how long do they finance for?

We paid half then financed the remainder at 0%, better in my pocket. I forget the percentage they charge if you pay less than half.

macalh
11-11-2009, 09:51 AM
It is very hard to finance a timeshare, unless you buy it from the resort directly. If you do, you'll pay almost twice as much as buying on the resale market.

Renaissance is the only resort downtown. If you like that area, that is your only choice. You need to figure out where you want to be? Eagle Beach (low rise section - quiet and peaceful) Palm Beach (high rise section - walk to everything) or Divi Phoenix, at the end of Palm Beach but quiet.

As for fixed or floating weeks, they both have their pluses. Again, you need to know if you'll be able to commit to the same week every year.

I have many timeshare units in Aruba. If you have any other questions you can email me directly at macalh@aol.com.

dogwriter
11-11-2009, 02:28 PM
We studied this issue for years before deciding on Casa del Mar last year.
Our criteria was for a two-bedroom oceanfront with a deed and at a great price. We got all that and so we bought.

Where? Do you want low-rise, high-rise, downtown or away from the beach?

Flex? Sounds great but popular weeks may not be available.. Seems over-selling exists sometimes. Fixed weeks are guaranteed and in case of emergency, you can often switch through the resort.

Finance? . Since most timeshares do NOT appreciate, banks make a sour face when you try to apply. (Look for bargains.)

Rent? Aruba is one of the most requested locations so rental should be fairly easy. You can often let the resort rent the unit and split the profit with them.

Transfer Fees? If you buy from the resort there are usually no fees. Always, when you buy privately. We got the seller to pay the fee, but that is unusual.

Deeds? If you want to pass it down to your kids, a deed is great. 99 years is great. 25 years can be great. Whatever works for you.

Be aware that all resorts have annual fees. All, will eventually have a "special assessment." We are paying $600.00 0ver three years in addition to the regular fees. Also, you will pay room and energy taxes at checkout.

Happy shopping!
Walt

trnst7
03-25-2010, 09:50 PM
Ok, so every year I come to Aruba, we rent a unit at the Surf Club from an owner that I find through the numerous websites that offer them. I have paid between $800-1500 for a studio or 1 bedroom unit for a week. My gf asked why we dont just buy a timeshare?? My response was that, what we pay, is about the same as the maintenance fee that an owner pays, but w/out the mortgage. Is this the case? I mean, why would I buy, if I know that there are hundreds of rental opportunities out there for every week of every year. What are the advantages?

Also, some people that I have spoken to and have rented from, seem to have multiple weeks that they get somehow and are able to "bank" these weeks and rent them out or use them. Can anyone enlighten me on how this system works?

I know if I asked the "sales person" at the MSC i could get an answer but who knows how close to the truth it would be. Thanks in advance.

TRNST7

damnyankeeuk
03-26-2010, 03:27 AM
I'd be very interested to hear the answers as well...The Timeshare industry in Europe has a VERY bad rep.....especially in Spain, and is in seriuos decline. What is different about the Aruba deals?

hpep
03-26-2010, 07:04 AM
I guess it would depend what you ar looking for. If renting works for you then it would be wise to continue to rent. I know the Marriott surf Club timeshares are running over 20,000 to own for a 2 bedroom. I would not recommend spending that much when you can rent for under $1000/week especially seeing the maintenace fees are aoubt $1200 a year and do increase each year. I know the Ocean Club has had a hefty assessment fee on top of maintance fees for refurbishment. Having said that there are multiple timeshares for sale on the resale market given the economy. We own a 2 bedroom timeshare in Orlando and use that to trade into Aruba. Given that it is a Marriott we usually get what we want every year. We did buy on the resale market for cheap however the maintenance fees have risen by about $100 every year. It has worked for us b/c we have 3 children and need a 2 bedroom. Having to rent 2 rooms in Aruba is costly. ANd the convenience of having a kitchen to make meals has saved us quite a bit of money. Also having a washer and dryer in the unit has been of great benefit. Just to note it costs $89 year to join II and it has increased to $159 to deposit and trade your unit. So add that to your maintenance fees and see it it would benefit you to own.

Bonebal
09-05-2010, 11:55 AM
Have always received great info on this website in the past and thank you.
I want to buy a week at one of the Marriott timeshares.
How do I find a resale listing on line?
Also, I am looking to rent for a week late Feb.2011 or first week in March,can anyone help?

Arubalisa
09-05-2010, 02:22 PM
Buy a Timeshare? Interval? Someone educate me please. (http://www.aruba.com/forum/f23/buy-timeshare-interval-someone-educate-me-please-44480/?highlight=buy+timeshare)

http://www.aruba.com/forum/f7/regulars-aruba-43510/

some time share questions (http://www.aruba.com/forum/f23/some-time-share-questions-42168/?highlight=buy+timeshare)


Also, I am looking to rent for a week late Feb.2011 or first week in March,can anyone help? Please post this separately at http://www.aruba.com/forum/f23/ with the number of bedrooms and locations and dates.

danadog56
09-05-2010, 10:21 PM
I have 3 timeshares...the first one I bought from the TS itself...Divi Village...very expensive...then I learned, I went one line and checked out several resale companies...bought the 2nd from holiday resale company, not expensive, but got a decent middle man price out of me...price for it was 1000 dollars...the 3rd one I paid 500 for and no brokerage fee, from GMAC international....much easier to deal with than the 2nd one.
If you r planning on buying, do it 2nd hand, don't pay full price for them. I think alot of people are not clear about what they are buying and what they will have to continue paying for them and then once they find out they try to sell them only to find they are not worth what the company they bought them from tells them they are worth.....then they resell them for half or less of what they paid for them,,,,,,,,greal deal for you,,,,and me...although if I want to stay married I probably should not buy another one....

Bonebal
09-06-2010, 07:27 AM
thank you

Shelly
09-06-2010, 08:09 AM
I agree with everything danadog56 said. We bought our ts from someone who had 4, and looking to unload 2 of them. We bought it for $1500, and we have traded into Aruba every year since then. Good luck bonebal

jeffnev
09-17-2010, 04:07 PM
Have always received great info on this website in the past and thank you.
I want to buy a week at one of the Marriott timeshares.
How do I find a resale listing on line?
Also, I am looking to rent for a week late Feb.2011 or first week in March,can anyone help?

I believe Marriott will share listings from current Ocean Club and Surf Club owners looking to sell directly - no Marriott or 3rd party fees that way.

jaw
09-17-2010, 04:33 PM
You can try to buy on Ebay. Also, good information available on Timeshare Users Group website. Portion of that site is free, or you can join for $10 per year. That site is very informative.

Marriott is trying to transition to a point system and there is a lot of discussion on how this will affect exchanges. If you are buying in Aruba to use, then you don't have to worry about exchanges.

vince
10-26-2010, 03:00 AM
I didn't know eBay sell timeshares too. But I heard more negative things about timeshares compared to positive sides of it.