Newbies Guide For Inputs

I recently purchased more weeks than I'll be able to use, and if I choose to rent them myself rather than through the developer, I wanted to put a packet together for them about the resort, etc. I also wanted to give them a single page, front and back, primer on purchasing for the first-timer. I'm no old-timer nor expert at this, so I wanted to get inputs on it from experts. It's a condensed version of what I've learned from here and my experiences. I don't want to start a flame war or irritate anyone, but I also think I may have overlooked something major and/or be giving bad advice. It is longish, but DOES fit on a page front and back (formatting is better in Word - sorry about that. I'm nervous about posting it here, and hope I'm not violating any rules, but here goes:
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If you’re considering purchasing a timeshare for the first time, here’s a list of generalized suggestions that I hope you find helpful:

1) Consider just renting. Timeshare ownership is often a perpetual (pass it along to your children) commitment to paying maintenance fees. If you rent first at a resort, and then you find you love it and are sure you want to come back almost every year, move onto #2.
2) DO NOT purchase from the developer EVER. They will say all sorts of things to get you to do so. “You won’t get X benefit purchasing resale”, “We’ll sell your old timeshare”, “Your timeshare will appreciate”. They say what they need to say to make a sale. Most timeshares have almost no resale value or appreciate. See the references below for “how to buy”.
3) DO purchase close to home at a resort you want to visit every year. This is your least expensive option by far. Then you can rent the unit out on the years you don’t want to use it and rent other timeshares when you want to visit other places.
4) If you’re inexperienced, I suggest that you avoid RCI (I have no experience with Interval International, but the advice is the same). If you’ll stick with #1 and #2 above, things will be simplest for you. RCI offers a huge range of possibilities, but at a cost.
5) BE WARY OF POINTS. The points programs do offer more flexibility, but generally at a cost over weeks programs. You often have to pay exchange fees, club dues, etc. Mostly, the points system (like the odds at Vegas) favor the house, or in this case, the program owner.
6) Do LOTS of research. Spend time online, particularly on www.tugbbs.com and redweek.com. Read up on your resort of interest and the latest timeshare news and scams.
7) These are just suggestions. They are guidelines and exceptions abound. If you really want to globetrot, or even sample sites across the US, then RCI and/or II are the way to go and points might make a lot of sense for you. It all depends upon your goals for timeshare ownership. It’s possible that some great resort experiences are only available from the developer, but I doubt it and I will likely never buy from the developer and I suggest the same for you.
8) DO NOT EVER purchase under ANY pressure tactic whatsoever, nor feel guilty taking your gift for attending the presentation. I like to attend presentations sometimes, but if pressured, ask for your gift immediately. If you’ve given them the time they asked for, they owe it to you.
9) Be especially careful purchasing overseas. Do NOT assume US laws apply there regarding fraud, etc. They do not. If you adhere to 2) and 3), this shouldn’t be an issue.

How to buy:

1) Price/Value
a. Do your homework. Check the sites that I list below. If you can’t find any history, you should be able to get one by paying (currently $15/year) to join TUG (Redweek may have a similar program for about the same price, but I’m not a member there so I don’t know for sure) and look at the resort’s reviews and price history. Ebay should have some history, as well.
b. You should assume the timeshare that you are looking for will be free, or very nearly free if you just take your time looking. Worst case you’ll pay a small fraction (usually 20% or less) of what the developer will charge you.
c. Negotiate. Even if someone has a higher asking price, don’t be bashful about offering to pick up their timeshare for the cost of the transfer fees alone. They may be insulted and angry about the price they paid the developer and feel their unit is worth more that the market says it is worth. They may also be thrilled to get rid of the perpetual maintenance fees.
2) Sources of timeshares
a. Friends and family – sometimes they are embarrassed to admit that they own timeshares, but sometimes they will have them and would love to get out of the responsibility of paying annual maintenance fees.
b. Online
i. Craigslist (hint: use a Google search in the format “YOUR_RESORT_PROPERTY_HERE” timeshare site:craigslist.org)
ii. ebay (check the “sold” units on the “completed items” to find out what people actually pay)
iii. the “Bargain Deals” list at www.tugbbs.com
iv. https://haveatimeshare.com/
v. The Bargain Basement in the TUG marketplace http://tug2.com/timesharemarketplace/
3) Times to buy:
a. Bills for most timeshares are delivered in October or November. This is a time when those that aren’t using their timeshares or just are tired of maintenance fees are thinking about getting rid of them.
b. Most folks use their timeshare or rent it for the summer. Right after that they are sometimes thinking “it’s time to move on”. The same is true for winter resorts. So late summer and late winter are also peak times.
c. ANY time is a good time to buy if you find what you’re looking for, but 1) and 2) above seem to be human nature.
4) Processing
a. There are two schools of thought on this – “do it yourself”, and “hire an attorney”, and then there is a hybrid of the two.
b. There’s an interesting article at http://www.tug2.net/advice/Transfer.htm written by an attorney, I think, detailing potential pitfalls.
c. I’ve done the hybrid and the DIY approach, but never the full-up lawyer option. I’ve never had any troubles, but do what you feel most comfortable with.
d. There are some great inexpensive options for handling paperwork. I’ve used LT Transfers ( http://LTtransfers.com )with good success and they are well-regarded by timeshare owners. I’ve also had an attorney charge only $150 for a deed and that was very reasonable.
5) Urgency
a. There is none. Sure, if you see a great deal you may have to move fast to get it, but you should have done lots of homework before then, and likely have been on the lookout for the good deal for some time. Of course, your time is valuable, so you might want to pay a bit more to not have to spend time looking – nothing wrong with that, for sure.

Scams:
If you’re a timeshare owner, you’re considered to be a “sucker mark” by scammers. Perhaps because they assume you supposedly got taken in by the developer to pay way more than market value. Or perhaps because you clearly have disposable income. Whatever the reason you should expect to be targeted and need to become aware of the many scams out there. I won’t detail them, but you should spend some time doing research on this subject BEFORE becoming a timeshare owner.

That’s it! A bit confusing, I suppose, but hopefully it’s been worth your time to read this.

Item 3

Least not lease


I come away like the guy that asked "what time is it?" And was told how to make a clock. All I want to do is rent a vacation condo

ronparise said:

Item 3

Least not lease


I come away like the guy that asked "what time is it?" And was told how to make a clock. All I want to to is rent a vacation condo

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"Least" fixed. Thanks. Thanks, too, for taking the time to read it. You meant "...to do..." and not "...to to..." didn't you?

It's not the "Timeshare 101 - "What is a timeshare?", so it doesn't cover that base, and it may be a bit too much of a fire hose to drink from? I could just direct them to the web site, but not everyone is super internet savvy. If they are staying at the timeshare and might decide to attend the presentation it seems it might be useful? They can just ignore the whole sheet, of course, if they are just renting and not interested at timeshares at all. I'm sure not pushing them to purchase, or I hope I'm not, by giving them this.

Any other comments about changes?

happybucklander said:

Any other comments about changes?

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Not too many changes necessary but what you wrote in your original post has been discussed countless times for years here on TUG. What you said is really nothing new.

As a Wyndham points owner I have to take issue with your "beware of points." I like the flexibility I have with points and an extensive collection of well maintained resorts around the country.

With Wyndham, there is no fee for internal exchanges, so I can try different resorts without paying an RCI or II exchange fee.

I'm sure owners of other points systems may feel that their systems have positive attributes as well.

LannyPC said:

Not too many changes necessary but what you wrote in your original post has been discussed countless times for years here on TUG. What you said is really nothing new.

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Thanks for the compliment! That's exactly what I was trying to achieve, just a distillation of good advice from others that fits onto one page front and back. I haven't seen the specific Craigslist search format elsewhere, but perhaps it's here and I just haven't see it - SO much here to see!!

I know your intentions are good, but based on many, many rentals, I can assure you that most renters don't want to read a paragraph, much less read two pages. It's just the nature of the beast.

I can summarize what you should give them in one sentence:

Whatever you do, do NOT go to a presentation at the resort.

LannyPC said:

Not too many changes necessary but what you wrote in your original post has been discussed countless times for years here on TUG. What you said is really nothing new.

Click to expand...

puppymommo said:

As a Wyndham points owner I have to take issue with your "beware of points." I like the flexibility I have with points and an extensive collection of well maintained resorts around the country.

With Wyndham, there is no fee for internal exchanges, so I can try different resorts without paying an RCI or II exchange fee.

I'm sure owners of other points systems may feel that their systems have positive attributes as well.

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Although you have put a lot of thought into what you wrote you have to realize that what's good for one person may not be good for the next and that makes the whole exercise pretty worthless for those that don't fit your mold.

The advice against points is one area and advising to buy close to your home is another. That may be good for you but totally wrong for others.

I also agree that a prospective renter will have no interest in your take on timeshares in general. I rent and I know that all I care about is the price, the resort, and is the renter legit.

I own a few timeshares, rent a timeshare or two and own at least 3 points systems along with some fixed weeks.

There are "NO FIXED rules" or "BEST ONLY" timeshare .. just like there is no "BEST VACATION" or "Best school" or "Best Car".

TUG participation encourages discussions on "WHAT FITS YOU now".
*DVC for retired grandparents with smaller grandchildren might work until those grandkids visit Universal (and its forms of entertainment).
*Spending 8 weeks in South Florida works if you can drive down and can move between resorts & units each week. But not if you become less mobile or your finances change.
*Hawaii is great unless flights are beyond your budget or the "island charm" becomes "island fever" or your MFs become crushing high.

I call it "discussions" occur here as a way to learn what fits YOU and your family ... NOT a check list or rule book. Or as paraphrased from that movie, "Last Holiday", this is a "Forum of Opportunities".

DeniseM said:

I know your intentions are good, but based on many, many rentals, I can assure you that most renters don't want to read a paragraph, much less read two pages. It's just the nature of the beast.

I can summarize what you should give them in one sentence:

Whatever you do, do NOT go to a presentation at the resort.

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I've had helpful presentations and awful ones - the helpful ones were where I was already interested, however. But thanks for the rental experience. I don't figure it will be useful to most, but perhaps a few might have interest in ownership.

puppymommo said:

As a Wyndham points owner I have to take issue with your "beware of points." I like the flexibility I have with points and an extensive collection of well maintained resorts around the country.

With Wyndham, there is no fee for internal exchanges, so I can try different resorts without paying an RCI or II exchange fee.

I'm sure owners of other points systems may feel that their systems have positive attributes as well.

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I basically say to avoid points and RCI/II, then I say "7) These are just suggestions. They are guidelines and exceptions abound. If you really want to globetrot, or even sample sites across the US, then RCI and/or II are the way to go and points might make a lot of sense for you. It all depends upon your goals for timeshare ownership. ..." YMMV, in other words. Perhaps what I should add is if you want a points ownership start out with one, and avoid the conversion cost. Also, I've seen several points owners complain of the additional fees associated, and I thought that included at least one Wyndham points owner, but perhaps not.

vacationhopeful said:

I own a few timeshares, rent a timeshare or two and own at least 3 points systems along with some fixed weeks.

There are "NO FIXED rules" or "BEST ONLY" timeshare .. just like there is no "BEST VACATION" or "Best school" or "Best Car".

TUG participation encourages discussions on "WHAT FITS YOU now".
*DVC for retired grandparents with smaller grandchildren might work until those grandkids visit Universal (and its forms of entertainment).
*Spending 8 weeks in South Florida works if you can drive down and can move between resorts & units each week. But not if you become less mobile or your finances change.
*Hawaii is great unless flights are beyond your budget or the "island charm" becomes "island fever" or your MFs become crushing high.

I call it "discussions" occur here as a way to learn what fits YOU and your family ... NOT a check list or rule book. Or as paraphrased from that movie, "Last Holiday", this is a "Forum of Opportunities".

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I think I say that - "7) These are just suggestions. They are guidelines and exceptions abound. If you really want to globetrot, or even sample sites across the US, then RCI and/or II are the way to go and points might make a lot of sense for you. It all depends upon your goals for timeshare ownership. ..."

IMHO the "Best" exercise is the one you will actually do, and the "Best" timeshare is the one you use and enjoy, not wish you could get rid of within a year or so of purchase, like so many you see advertised that are "pick up my debt payments [of developer price that's $10k over market value]"

Thanks for the inputs. I think we may be headed for the weeds at this point. The consensus is that renters won't be interested and that it's a bit purile in intent and content, and needs to be more clear as to NOT being authoritative or a "one size fits all" solution, and perhaps less negative on points or other personal options. Thanks for all the comments. I'll consider the topic closed at this point, and go incorporate the changes suggested and wait a few years and see how it goes in the rental world.

happybucklander said:

"Least" fixed. Thanks. Thanks, too, for taking the time to read it. You meant "...to do..." and not "...to to..." didn't you?

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exactly right..

its fixed now.