The thought of owning a vacation home may sound appealing, but the year-round responsibility — and expense — that come with it may not. Buying a timeshare or vacation plan may be an alternative. Two basic vacation ownership options are available: The value of these options is in their use as vacation destinations, not as investments.

Because so many timeshares and vacation interval plans are available, the resale value of yours is likely to be a good deal lower than what you paid.

Both a timeshare and a vacation interval plan require you to pay an initial purchase price and periodic maintenance fees. The initial purchase price may be paid all at once or over time; periodic maintenance fees are likely to increase every year.

In a timeshare, you either own your vacation unit for the rest of your life, for the number of years spelled out in your purchase contract, or until you sell it.

Buy, Sell or Rent Disney Vacation Club Points - The Timeshare Store, Inc.

Your interest is legally considered real property. You buy the right to use a specific unit at a specific time every year, and you may rent, sell, exchange, or bequeath your specific timeshare unit.

You and the other timeshare owners collectively own the resort property. Regardless of how you bought the timeshare, you also are responsible for paying an annual maintenance fee; property taxes may be extra. Owners share in the use and upkeep of the units and of the common grounds of the resort property. Timeshare owners elect officers and control the expenses, the upkeep of the resort property, and the selection of the resort management company.

In this option, a developer owns the resort, which is made up of condominiums or units. You purchase the right to use an interval at the resort for a specific number of years — typically between 10 and 50 years. The interest you own is legally considered personal property.

The specific unit you use at the resort may not be the same each year. In addition to the price for the right to use an interval, you pay an annual maintenance fee that is likely to increase each year.

In calculating the total cost of a timeshare or vacation plan, include mortgage payments and expenses, like travel costs, annual maintenance fees and taxes, closing costs, broker commissions, and finance charges. Maintenance fees can rise at rates that equal or exceed inflation, so ask whether your plan has a fee cap. You must pay fees and taxes, regardless of whether you use the unit. To help evaluate the purchase, compare these costs with the cost of renting similar accommodations with similar amenities in the same location for the same time period.

If you find that buying a timeshare or vacation plan makes sense, comparison shopping is your next step. Be wary of offers to buy timeshares or vacation plans in foreign countries. If you sign a contract outside the U.

An exchange allows a timeshare or vacation plan owner to trade units with another owner who has an equivalent unit at an affiliated resort within the system.

A resort developer has a relationship with an exchange company, which administers the service for owners at the resort. Owners become members of the exchange system when they buy their timeshare or vacation plan.

When a member takes a week from the inventory, the exchange company charges a fee.

Buy, Sell or Rent Disney Vacation Club Points - The Timeshare Store, Inc.

In a points-based exchange system, the interval is automatically put into the inventory system for a specified period when the member joins. Point values are assigned to units based on length of stay, location, unit size, and seasonality. Members who have enough points to secure the vacation accommodations they want can reserve them on a space-available basis. Whether the exchange system works satisfactorily for owners is another issue to look into before buying.

Some may even say that they have buyers ready to purchase your timeshare, or promise to sell your timeshare within a specific time. If you want to sell your deeded timeshare, and a company approaches you offering to resell your timeshare, go into skeptic mode:. The appraiser should be licensed in the state where the service is located.

Sell Buy Rent Timeshare Resales

Check with the state to see if the license is current. Before you sign a contract with a reseller, get the details of the terms and conditions of the contract. It should include the services the reseller will perform; the fees, commissions, and other costs you must pay and when; whether you can rent or sell the timeshare on your own at the same time the reseller is trying to sell your unit; the length or term of the contract to sell your timeshare; and who is responsible for documenting and closing the sale.

Negotiate changes or find another reseller. Selling a timeshare is a lot like selling any other piece of real estate. But you also should check with the resort to determine restrictions, limits, or fees that could affect your ability to resell or transfer ownership. Then, make sure that your paperwork is in order. To learn more about vacation ownership, contact the American Resort Development Association. It represents the vacation ownership and resort development industries.

ARDA has nearly 1, members, ranging from privately-held companies to major corporations, in the U. American Resort Development Association 15th Street N. The FTC works to prevent fraudulent, deceptive and unfair business practices in the marketplace. Federal Trade Commission Consumer Information consumer. Timeshares and Vacation Plans. Share This Page Facebook Twitter Linked-In. How to File a Complaint. Rental Listing Scams Travel Tips. The Basics of Buying a Timeshare Before You Buy a Timeshare Timeshare Exchange Systems Selling a Timeshare Through a Reseller.

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