How to Choose and Buy a Timeshare Resale
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 buying process 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 where to own.
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. Developer sales presentations sometimes suggest the location of ownership doesn't matter - while this may be true for points-based clubs, typical fixed and floating week timeshares must be exchanged through an external program. For those type of ownerships, which can be very desirable, we suggest you buy timeshare where you like to travel, that way you'll still enjoy vacation on years where exchanges are unavailable. For more flexibility, consider a points-based or 'club' ownership.
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 properties for sale at Bay Tree Solutions are willing to rent you a week to 'try-before-you-buy,' and some will even consider applying the rental amount to the sale price. (Make an inquiry to contact the owner directly.)
5. Decide What You're Willing to Pay & Get Pre-Approved - There are no accurate appraisals available for timeshare property: 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. Once you know your budget, visit our timeshare financing page to get pre-approved for a timeshare loan at a reasonable rate. (You can even request additional funds for closing costs; giving you a true zero-down buying experience.)
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. If you haven't been pre-approved, make sure to indicate if you need 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... Should your needs change, or if you are unsatisfied with your timeshare purchase for any reason, our BuyerProtection+ program means you can return to BayTreeSolutions.com at any time and use our service to sell your timeshare without a fee!
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