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What's a timeshare?

sanisidrena

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Hi everybody. I'm new to this and i don't know how this works. I know somebody that has a condo in Bonnet Creek Resort. This is part of the Fairlfield Resorts- wyndham Resorts. She bought it for 25k, now only owes 16k and wants to sel it to me for 25k plus 5k that are for her. I don't know what a timeshare is and how this works. All I know is the place looks really nice and it is in Orlando.

Pls help me guys!
 

Patri

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Why would you pay more than she did?
 

timeos2

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No deal

Hi everybody. I'm new to this and i don't know how this works. I know somebody that has a condo in Bonnet Creek Resort. This is part of the Fairlfield Resorts- wyndham Resorts. She bought it for 25k, now only owes 16k and wants to sel it to me for 25k plus 5k that are for her. I don't know what a timeshare is and how this works. All I know is the place looks really nice and it is in Orlando.

Pls help me guys!

If you are serious then show her a few websites that have Wyndham Fairshare Points - those are the keys to every Wyndham timeshare including Bonnet Creek - that sell $.03 or less on the retail dollar. That $25,000 purchase price is worth - at best, and only until BC starts to see more resale offers - $10,000. If she wants that she had better sell fast! Thats right, it isn't worth what she still owes forget a $5000 premium.

Again if this is a serious inquiry this is a no deal situation. Read up on what timeshare is, what a great deal Wyndham can be AT RESALE prices and what a ripoff it is at retail. Even the beautiful BC is no exception.
 

brucecz

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Hi everybody. I'm new to this and i don't know how this works. I know somebody that has a condo in Bonnet Creek Resort. This is part of the Fairlfield Resorts- wyndham Resorts. She bought it for 25k, now only owes 16k and wants to sel it to me for 25k plus 5k that are for her. I don't know what a timeshare is and how this works. All I know is the place looks really nice and it is in Orlando.

Pls help me guys!

TravelFSO provided to with a very informative link. How many yearly or every other year Points go with their ownership?

If you want to lose :( at least $15,000 (If it is a contract for only 154,000 yearly Points or less) or more based on the limited :eek: information you gave us that did not include the amount of points in her contract, then buy her ownership.

But if you have to ask what a timeshare :confused: is then IMHO you should not buy one until you know a fair amount more about them. If you put 10 hours of study on this and other sites like this one you will be paying yourself $1,000. in savings and not buy your friends IMHO BAD DEAL.

But if you take some time to learn about timeshares then you may learn on how to spot a timeshare ownership with usage that would get you great vacations at low or moderate costs.

Good luck to you.

Bruce :D
 

NTHC

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Not a good deal!

Listen and learn and then buy what you really want.

Cindy

I am editing to say that your friend is probably not trying to harm you. Just relaying information given at the time of sale. Perhaps, you could give him/her this site and let them educate themselves on their own.
 
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kar518

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FF point chart?

Can anyone help me (a newbie) with information regarding bonnett creek? I see ads for resales but I have no idea how many points I would need. I am looking for a 2 bedroom once a year during peak season (not Christmas or Easter week but maybe President week and summer months??).
I have heard they are similar to DVC now that FF took over and its a floating point system now? Is this true? And if so, is there a point chart that I can look over?

Also, does anyone know anything about their transportation to the MK, AK, Epcot and DTD? Is it as good as disney transportation??

I am just trying to compare this to DVC..
Thanks to anyone that can help me!
 

KenK

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Last edited:

Kona Lovers

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1. Run away from the deal

2. Follow the advice to read Timeshare 101.

3. If you conclude that timeshare ownership is for you, buy resale.

Marty
 

Patri

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I'm still trying to figure out if the OP's id spelled backwards means anything.
 

bruwery

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Depending on how well you know this acquaintance, it may be easier to politely tell him/her "Thanks, but I don't believe this is right for me at this time".

The true value will become evident when they attempt to sell it, and you've avoided the ol' shoot the messenger syndrome.

Onward and upward,

Mark
 

m61376

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Giving everyone the benefit of the doubt here- as Cindy posted, your friend most likely is not trying to rip you off and is under the illusion that timeshares are like other real estate and appreciate in value. If you spend some time here you will quickly realize that approximately half of the purchase price from the developer pays for all their marketing - including their sales incentives, discounted trips, etc. The buyers actually foot the bill. So the actual real estate is worth only about half of the purchase price, and in many cases substantially less.

Depending on the property and developer, the resale value may be as low as 10%. Even the most desirable properties generally can be purchased resale for a third off developer prices. Most timeshares, if bought from the developer, do not appreciate, with a few exceptions; the most marked exceptions are high end properties (like Marriotts, DVC, etc.) and esp. when bought at the very beginning of pre-construction pricing.

Most likely, your friend is asking what he/she thinks it is worth. Most people on this Board, as savvy as they are, will freely admit that their first purchase(s) were direct and that, in most cases, they would lose $$'s selling.
 
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