I'm new to timeshares, and I sat in my 2nd presentation this year, and decided to buy this one. I still can cancel it, as I have 5 days remorse period.
I've done some research on this site, but am still unclear on exactly how my timeshare works. It is a QM Resorts timeshare (qmresorts.com), but the way it was explained to me, and reading the timeshare 101 on here, I think it fits more into the Vacation Club with a deeded membership.
QM Resorts has 5 locations, and I purchased their 2 week program. From my understanding, I did not purchase a specific location, but rather a part of a pool of all of their locations. What I was told is - to do an exchange for a week, or stay in one of the QM resorts, I will need to call an 800 #, who can assist me with where I want to stay, and they will take care of it. They showed me a chart where 90% of the people's 1st choice in time/location is approved. I do not have to mess around with finding someone to trade with me, or anything like that (which is what intrigued me into buying this).
Now, the part that confuses me and contradicts this is - they deal with II to make bookings. From my understanding, II uses a tiering system, so that if the QM is not as high of a tier as the place I want to stay, I will most likely not get it. Does this mean that when I call the 800 # and try to book something that's higher level than the QM resorts, I will not get it? Looking at the II site, 2 of the locations show Select status, whereas the 2 others at Lake Tahoe do not show a status at all.
They also talked about having their own in-house network which they refer to first, but I do not see that anywhere on their web site.
I paid $5000 for the timeshare, and it's $820 in maint fees/year, which are paid for the remainder of this year (along with the closing fees).
The questions I have are:
-Does anyone have experience with QM resorts?
-Is this like a traditional timeshare where I have to find others to switch with, or is it truly just call and they do the work?
-Does this get treated differently than the II tiers, or does II always use tiers no matter what, and I just bought into a Select-level II timeshare?
-If I did, is 5000, with 820 in fees too much for that level?
I understand I can remorse this and buy from a reseller, but if this is unlike other timeshares, and I do not have to do any of the work, then I would prefer this over a traditional timeshare that I can potentially get a little cheaper, yet have to do all the legwork for.
Ultimately, I want to use a timeshare for doing exchanges. Not for going to the same location every year. I do not, however, want to be in run down resorts and basically pay ~184 night for 2 weeks (distributed 5k over 5 years, added maintenance costs and other fees, divided by 12 nights).
Appreciate any help on this!
I've done some research on this site, but am still unclear on exactly how my timeshare works. It is a QM Resorts timeshare (qmresorts.com), but the way it was explained to me, and reading the timeshare 101 on here, I think it fits more into the Vacation Club with a deeded membership.
QM Resorts has 5 locations, and I purchased their 2 week program. From my understanding, I did not purchase a specific location, but rather a part of a pool of all of their locations. What I was told is - to do an exchange for a week, or stay in one of the QM resorts, I will need to call an 800 #, who can assist me with where I want to stay, and they will take care of it. They showed me a chart where 90% of the people's 1st choice in time/location is approved. I do not have to mess around with finding someone to trade with me, or anything like that (which is what intrigued me into buying this).
Now, the part that confuses me and contradicts this is - they deal with II to make bookings. From my understanding, II uses a tiering system, so that if the QM is not as high of a tier as the place I want to stay, I will most likely not get it. Does this mean that when I call the 800 # and try to book something that's higher level than the QM resorts, I will not get it? Looking at the II site, 2 of the locations show Select status, whereas the 2 others at Lake Tahoe do not show a status at all.
They also talked about having their own in-house network which they refer to first, but I do not see that anywhere on their web site.
I paid $5000 for the timeshare, and it's $820 in maint fees/year, which are paid for the remainder of this year (along with the closing fees).
The questions I have are:
-Does anyone have experience with QM resorts?
-Is this like a traditional timeshare where I have to find others to switch with, or is it truly just call and they do the work?
-Does this get treated differently than the II tiers, or does II always use tiers no matter what, and I just bought into a Select-level II timeshare?
-If I did, is 5000, with 820 in fees too much for that level?
I understand I can remorse this and buy from a reseller, but if this is unlike other timeshares, and I do not have to do any of the work, then I would prefer this over a traditional timeshare that I can potentially get a little cheaper, yet have to do all the legwork for.
Ultimately, I want to use a timeshare for doing exchanges. Not for going to the same location every year. I do not, however, want to be in run down resorts and basically pay ~184 night for 2 weeks (distributed 5k over 5 years, added maintenance costs and other fees, divided by 12 nights).
Appreciate any help on this!