Guide to Buying Timeshare

How to Choose and Buy a Timeshare Resale Property

1. Evaluate How You Travel - Does your family vacation for one week at a time, or for three and four-day intervals? Do you vacation every year? How often are you likely to return to the same location? Start the process of buying timeshare by answering these questions. If your family takes shorter vacations, you might be better purchasing a points-based ownership, than a fixed week. If you only travel every two years, a biennial odd or even-year timeshare would be more cost effective than an annual ownership. Once you've evaluated your needs, you can move on to choosing a location.

2. Buy Timeshare Where You Plan to Travel - Timeshares represent the best value when you purchase at a location you expect to return to at least once every 5 vacations. High-pressure developer sales presentations often imply the location of ownership doesn't matter - leaving owners disappointed when they attempt to exchange. Remember, exchange privileges are just that: privileges, not guarantees. If you buy timeshare where you like to travel, you'll still enjoy vacation on years where exchanges are unavailable.

3. Decide on the Quality of Accommodations You Want - Generally, most timeshare accommodations will far exceed those of a typical hotel, however timeshares themselves have a rating system denoting their level of luxury and amenities. Do you want a simple, clean unit, with limited amenities and value pricing? Choose a resort without an RCI or Interval International award. Do you expect the highest level of service, amenities, and furnishings? Choose an RCI Gold Crown, or Interval International Premier rated property. Visit www.rci.com or www.intervalworld.com to review resort ratings, and choose a timeshare resale that fits your budget and expectations.

4. Visit the Timeshare You Want to Buy - If you have not done so already on a timeshare tour presentation, visit the resort you'd like to purchase. Examine the condition of the grounds and facilities, talk to the staff of the resort, note the condition of units, and inspect the surrounding real estate. Although timeshare should not be considered investment property, the overall conditions at the resort will have a bearing on future resale value. Many of the sellers advertising their timeshares for sale with Bay Tree Solutions are willing to rent you a week to 'try-before-you-buy,' and some will even consider applying the timeshare rental cost to the sale price. (Make an inquiry to contact the owner directly.)

5. Decide What You're Willing to Pay - There are no accurate appraisals available for timeshare properties: Ultimately, the price of any timeshare is what a willing buyer will pay, and what a willing seller will accept. If you have previously toured the resort, you may have some idea of what units are selling for, and you can make your offer accordingly. If you've not, or if the resort is no longer selling timeshares, you should base your offer on the value of usage the timeshare provides you: Take the nightly rate you'd spend on a comparable hotel, multiply by 7 days, then by the number of years you expect to continue vacationing. Deduct the maintenance fees from this total, and you'll have the actual value the timeshare represents to you. (Note: This scenario does not take into account potential inflation over time. The real value of the timeshare would likely be much higher.)

6. Make an Offer - While viewing the Profile of the timeshare you want to buy, simply click "Make an Inquiry!" Use our form to submit the details of your offer to the owner. Indicate the amount of your offer, and any conditions you may have for the sale. Typically it's the timeshare buyer's responsibility to pay closing costs. Make sure to indicate if you need a referral for financing. We will immediately forward your offer to the owner, who will make the ultimate decision on its acceptance.

7. Arrange the Closing - To complete the process of buying timeshare, you'll need to arrange the closing. Many buyers have a title company they prefer to use; if you do not, we will gladly refer you to a title company experienced in closing on timeshare resales. Whichever title company you choose will hold your funds in escrow, while verifying the specifics of the ownership and maintenance fees with the resort, and transferring the timeshare's deed/trust/lease into your name.

8. Enjoy Years of Happy Vacations - Relax in the knowledge that, by buying timeshare, you've made an investment in your family's happiness. You'll enjoy many wonderful vacations, with better accommodations and more value than a hotel... and remember, should your needs change, you can return to BayTreeSolutions.com, and use our service to sell your timeshare fast!

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