Timeshare Resorts, Family Vacation Rentals & More!
| Frequent Asked Questions: |
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Vacation
ownership is the fastest growing segment of the travel industry, experiencing a
16% a year increase since 1993. |
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Over 5,000,000 families
worldwide enjoy a lifetime of travel benefits. |
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There are over 5,000
timeshare resorts in 110 Countries. |
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41.2% of those who have
owned for 8 years have purchased additional vacation properties within that
time. |
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500,000 new owners
purchasing worldwide in 1999 (worldwide gross 6.7 billion) |
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Points based and club
programs provide flexible use for accommodations, destinations and seasons |
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What
is a Timeshare? |
Timesharing started in Europe many years
ago and the concept was simply an arrangement whereby a number of people joined
together to buy and run a holiday resort for their benefit. The idea worked
well and spread throughout the world. Presently, there are several million
timeshare owners.
Vacation or timeshare ownership is a simple concept. You avoid the yearly
expense of maintaining and furnishing a totally owned luxury vacation home. You
pay for only the time you wish to use. You may return to your home resort every
year on trade weeks to other destinations worldwide. |
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Can
I Invest In Timeshares? |
| Yes and no. Yes, if you
and your family love to travel or are always traveling, yes you will benefit
from it.
No. Timesharing is not an investment product and surely
is not intended as a way of making money as such. It is a financial commitment
to your leisure enjoyment and peace of mind. |
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If
I buy or resell, do I have to worry about a previous lien? |
| All Liens, maintenance and financing must
be paid off or property cannot be transferred with money owed. |
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If
I can't use my week one year, do I automatically lose it? |
| No, you can space bank it with any
exchange company and save it up to two years. This will give you an extra
vacation for the following year to use as a two-week vacation or two separate
vacations. |
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If
I own a fixed week, am I limited vacationing that particular week? |
No, you can do an internal exchange into
your own resort for your desired week. Pretty soon you will be able to exchange
that week through us. (Condotrader.com)
Fixed week means: The same week each ad every year at your timesharing resorts.
If you buy week 13 at your home resort, you are guaranteed week 13 every year. |
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What
does the Season Color Code mean? |
The color code is used for rating:
1. Red is considered the most in demand.
2. White and yellow are less traveled
3. Blue and green are considered off-season. |
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Accrued
Weeks |
| Timesharing weeks that have accumulated
from the prior year and are available for use in the current calendar year.
Also, (see exchange or trade) you may always exchange into another resort
worldwide. |
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Bonus
Time |
| Use of your timeshare resort in addition
to your regular allocated time on a space available basis. |
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Closing
Costs |
| Costs associated with the timeshare
closing process, usually including deed preparation or transfer of equity for
right-to-use properties, recording costs, escrow fee and administrative fees. |
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Club
Membership |
| Year-round usage of vacation resort
facilities with purchase on a space available basis. |
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Deed
(Fee Simple) |
| Year-round usage of vacation resort
facilities with purchase on a space available basis. |
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Developer's
Price |
| Estimated developer's current
or market price. Full retail price of timeshares. |
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Exchange |
| The process of trading
timeshares at one resort for timeshares at another resort or trading a specific
week at the home resort for another week at the same resort. |
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Exchange
Company |
| A company that allows
timeshare owners to trade their timeshare for a week at another timeshare
resort. |
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Fee
Simple |
| The timeshare owner holds a
deed in their name and the ownership of the timeshare can be willed over to
your children, a charity or friend. |
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Fixed
Week |
| The same week each and every
year at your timesharing resort. |
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Floating
Week |
| This lets you choose the week
of your choice, based on availability. |
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Lockout
Unit |
| A unit which has the
capability of being divided to create two separate but complete units. If an
owner buys a lockout unit, he/she can divide the unit and either stay in one
half of the unit and rent the other half or rent both. |
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Maintenance
Fee |
| Maintenance fees are
established and collected to maintain the timeshare resort, pay insurance,
utilities, taxes and etc. These fees vary from resort and with the type and
size of the timeshare unit purchased. |
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Odd
or Even Year Usage |
| Timeshare ownership usage
every other year. Some odd-numbered, some even. |
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Points |
| Redeem for daily stamps, weeks
and getaways. Resorts offer this type of program to owners who allow the owners
to choose and control over when and where they vacation or for how long or
short they stay. Instead of staying for a week, owners can stay for 3 days, 4
days or stay just for the weekend getaway. |
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Right
to use |
| No deed. (It's just like
leasing a car for x amount of years). After the lease is over you do not own
any property. Occupancy rights for a specified number of years, with no
ownership interest in the property. |
This page was created to educate and to answer any of our
customers' questions. Condotrader.com is here to help you and provide all of
the knowledge you need about timeshare/vacation ownership. If you feel we did
not answer any of your questions please feel free to e-mail us. We will contact
you as soon as possible. |