|   |

Author:
Larry Hayden

There are several key factors you must consider in order to avoid overpaying for timeshare resales. In this article you'll learn the steps necessary for you to learn how to minimize your costs - yet still buy a timeshare that has powerful exchange value through RCI and Interval Int'l.
1. Understand Resort Ratings.
If you want to get the most timeshare for the money do NOT insist that the resort be rated Gold Crown or 5-Star.
Contrary to popular opinion, a resort rating of Gold Crown or 5-Star has little to do with exchange power. Why pay more than you need? Non rated resorts in high demand areas will trade just fine into Gold Crown and 5-Star resorts.
There is a myth out there that you have to own Gold Crown or 5-Star to exchange for same. This is not true. In fact ownership in rated resorts can actually LIMIT your exchange!
2. Buy in a High Demand Area.
By far the single most important factor in determining trade power is location, location, location!
Remember that past demand for a particular resort is the key factor built into the exchange company software which determines what you will be offered in exchange.
Examples of high demand areas are Hawaii, California Coastal, Palm Springs Winter, Florida Coastal and Orlando, the Caribbean, Cancun, Cabo San Lucas, Myrtle Beach, Hilton Head Island, ski areas, - in short, any area that is short of timeshare space relative to a high number of people wanting to vacation in that area.
3. Buy Prime Season
If you buy prime season, you won't be restricted as to what time of the year you can request to exchange - you can request any time of year for your destination resort.
4. Buy in a Resort That Has a Reasonable Maintenance Fee.
Since maintenance fees go on forever, don't buy in a resort with an extra high maintenance fee. (Unless perhaps you can buy truly below bargain-basement price.)
5. Buy as Inexpensively as Possible.
Remember that your goal is to minimize your cost; It is easy to lose focus and start assigning importance to features that have nothing to do with how well the timeshare will exchange.
You may not even like the timeshare, but who cares?
If it is located in a hotly-demanded area and you buy inexpensively, it will serve well to trade you into the finest resorts. When you save thousands of dollars by buying it, you can trade for may decades before the exchange fees would equal what you saved by buying right in the first place!
6. Buy Through a Licensed Real Estate Broker.
It can hardly be imagined the number of problems and challenges that come up in performing what would seem to be a very simple transfer of ownership.
A licensed Broker has a lot to lose if dealing fraudulently with the public, unfortunately the same cannot be said if you deal with individual sellers or non-licensed companies, so why do it? Be sure all funds are held in a Trust Account until closing.
7. Receive Title Insurance, If it Is Available.
Title Insurance is available on most deeded timeshare purchases. It is your assurance that you are receiving clear title with no liens or judgements attached to the property.
8. Verify the Details of Your First Year's Use.
Many misunderstandings in a timeshare purchase center around as to when the buyer can first use the timeshare, whether the week is banked, and many other details. Whatever your understanding is, have it verified in writing with the exchange company, the resort management company, and the seller.
9. After the Sale Closes, Verify That the Change of Ownership Gets Done on the Resort Computer.
This is a crucial step, because it is common for the resort to either take a long time, or forget entirely to make the ownership change on the computer.
A separate concept not addressed in this article, involves buying where the intention is to primarily use the timeshare in a very select upscale luxury system of resorts, which warrants paying far higher prices. These and other issues are covered in the Timeshare Resales blog. You'll also learn what the Gold Crown rating means and how it affects your buying logic.
About the Author
Larry is a Timeshare Industry Leader and has been a licensed realtor since 1969. He is the original No Upfront Fee broker, and has been quoted in prestigious publications on and offline including the Washington Post. Read more about how to buy (and sell) smarter with Timeshares at http://www.alltimeshare.com/ .

|   |    Article Keywords: Timeshares

A Quick Note From The Publisher... If you like the article above, you may be interested in the following article which is also related to Timeshares... Staying In Timeshare Resorts Can Save You A Boatload Of Money Timeshare Resorts For couples or partners that love to travel a lot, nothing compares to investing in a timeshare resort. It is a lot more cost effective than paying for expensive hotel room accommodation. All around the world you can find unbelievable timeshare properties which can all be accessed using diverse options. You will be able to find different timeshare resorts that require people who are interested to buy memberships in groups. This then allows them to have access to a particular time each year to use the property. The timeshare property can be a complete apartment, house, condo, duplex, ocean side villa or resort suite. You can get just about any type of timeshare property. Apart from renting, timeshare resort properties can also be owned and used in exchange with others when you are not going to use it for that particular time. Lots of timeshare resort options abound for any type of traveler. This is because people are different, especially regarding how they enjoy their leisure time. That is why there are many types of timeshare resort options to select from. For example, you can get condominiums that are on the beach; you can get villas that are secluded by tropical foliage; you can get upscale suites that are overlooking lovely looking golf course; or even a wonderful looking home that is just next to an amazing private lagoon, complete with private boat dock and even a swimming beach. Wow – nothing compares more to paradise than such timeshares, right? And if you think such timeshare resorts would cost a fortune, you are dead wrong. You can enjoy a two to four week stay in such timeshare for far less than it would cost staying shorter time in a hotel. Apart from advantage of cost, you also enjoy more facilities than a hotel, such as...