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Here2Help,LLC.

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Timeshare Buyer FAQ


What is a Timeshare?

A timeshare is a form of vacation property ownership in which the owner has a deeded or right to use agreement with a resort for a designated period of time. Timeshares have become a great alternative to the high cost of owning a vacation home.

What is the difference between fixed, floating and flex weeks?

Fixed Weeks will usually be identified by a number. For example, the first week of January is Week 1, and the last week of December is Week 52. Most fixed weeks begin on Friday, Saturday or Sunday. When you have a fixed week you can only stay at the resort during your assigned week.

Floating Weeks require you to contact the resort to designate your desired week. You can make a reservation for any time during the calendar year based on a resort's availability (some weeks are always excluded for upper level memberships).

Flex Weeks require you to make a reservation to an assigned season. Flex time may be labeled by season (winter flex, summer flex, etc.) or by color (red, white, blue, etc). The terminology varies between the different vacation resort companies.

What are Points?

Points are units of measurement used to establish the value of seasons, sizes of suites, and resort locations. Primarily multi-destination resorts such as Wyndham, Bluegreen and Monarch use points. Multi-destination point programs offer the owner a variety of resorts to choose from as well as flexible use options.

What is an Exchange Company?

An exchange company gives you the option to stay somewhere other than your home resort. You can exchange your week for one at a comparable resort. There are several timeshare exchange companies, but two of the largest are Resort Condominiums International (RCI) and Interval International (II). RCI and II are affiliated with over 5,000 resorts around the globe. You can become a member of your home resort exchange company, or use the services of any independent resort exchange companies that best meet your specific travel needs.

What is a Banked Week?

When dealing with an exchange company, the owner has the option to reserve or deposit unused weeks to be used at a later time. The owner typically has 2 years to use the week in the exchange company's network of resorts. However, for a fee the banked time can be extended up to one year.

What is the difference between a Five-Star resort and a Gold Crown resort?

A Five-Star resort is the most desirable rating for a resort in the Interval International (II) system. A Gold Crown resort is the most desirable rating for a resort in the Resort Condominiums International (RCI) system.

What is the difference between Red, White and Blue Seasons?

Each resort will have different seasons, and this has a significant impact on the demand of any timeshare property. Most resorts use 3 principal colors to determine the demand of the season. Red is peak or high season, white is mid season and Blue is off peak or low season. Since demand affects price and trading power, seasonal fluctuation of demand is an important factor to consider.

What is a Maintenance fee?

A maintenance fee is a mandatory fee that the resort charges for the upkeep of the property. In most cases this fee also covers taxes, utilities, insurance, and any other maintenance expenses. These fees are generally levied on a monthly, annually or biennially basis.

What does RTU mean?

RTU stands for Right to Use. In locations where deeded ownership of vacation properties is not permitted by law (primarily outside the United States) the owner will be given a contract very similar to a lease to define a claim to the property. RTU contracts usually range from 20 to 99 years.

How is pricing determined for timeshare resort properties and timeshare resales?

Pricing of timeshare resort and timeshare resale resort weeks varies depending on many factors including: time of year, location, resort amenities, size of the unit, and of course, market demand.

The resort charges a lot more than the resale market. Why is that?

Much of timeshare resort developer costs are sales and marketing related. When you purchase directly from the resort, unfortunately you are paying to absorb all of the administrative and marketing costs associated with the sale of the property. When buying on the resale market, you only pay for the market value of the property.

What is the difference between Biannual and Biennial?

Biannual allows the owner to receive two weeks per year. Biennial allows the owner to receive one week every two years.

Is financing on the resale market available?

Yes, financing options are available with timeshare property. We recommend Tammac Financial for assistance in that field.

 

 

 


 

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