Timeshare Resale Buyer FAQs
If you’re looking for answers on how to buy a timeshare resale, or have questions about the timeshare resale industry in general, then we are here to help! We have compiled a collection of questions most frequently asked by potential buyers to assist you along the way. If you have any further questions, please contact one of our timeshare resale specialists at 844-202-7608 or [email protected].
What is a timeshare?
A timeshare is a type of shared ownership to a specific resort property for one week out of the year. You are essentially prepaying for your annual vacation accommodations, and timeshare resorts typically offer much more spacious and luxurious rooms than a traditional hotel. Additional benefits are also given to timeshare owners.
Why buy a timeshare resale?
With a timeshare resale, you are buying a membership from a current owner, rather than directly from the resort. Because of this, you can find timeshare properties on the resale market for up to 70% off the retail price, since there are no additional developer fees being tagged on to the price tag. You will only pay the fair market value price of the unit, and will receive the exact same ownership.
What is the difference between fixed, floating, and flex weeks?
Owning a fixed week timeshare gives you the right to use a timeshare unit for one specific “fixed” week once a year. These designated weeks are identified by the timeshare calendar.
A floating week is more flexible than a fixed week. You can use your floating week at any point during the year, as long as the resort has availability. In order to take the best advantage of your floating week, it is recommended that you reserve your timeshare week as far in advance as possible.
Flex weeks are very similar to floating weeks, with the exception that you are restricted to using your week during a certain designated “season,” rather than at any point throughout the year.
What are points?
Over the past years, the points system has become a much more popular form of ownership. With a points membership, owners prepay for a certain allotment of points to use every year on vacations. The more points you get, the more flexible and wider array of timeshare options you have to choose from. Points can be used all at once, scattered throughout multiple vacations, or banked for the next year.
Can points also be bought on the resale market?
Yes, points memberships can be purchased on the resale market just like any other timeshare type.
Do all owner benefits transfer with a timeshare resale?
Typically, all or most membership benefits transfer easily on the resale market. However, each timeshare resort brand has their own resale restrictions in effect, so it is important to do some more research on your desired timeshare in order to know exactly what you will be getting before you purchase.
Will I have to pay maintenance fees?
Yes. Whether you buy a timeshare off the resale market or from the resort developer, you will be responsible for paying maintenance fees on your unit.
What is RTU?
RTU stands for Right To Use, also referred to as a leased timeshare. These types of contracts are used most frequently for Mexico timeshares, and enable you to use a specific week at a timeshare property for a set amount of time (years contracts from 20 to 99 years). Since there is a time restriction on these RTU timeshares, be aware of how many years are left on a contract when looking at timeshare resales, to make sure you are paying for what you want.